The Supreme Court has ruled that attachment and confiscation proceedings initiated under the Prohibition of Benami Property Transactions Act, 1988 (Benami Act) cannot be challenged before the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT) under the Insolvency and Bankruptcy Code, 2016 (IBC). The bench of Justice Pamidighantam Sri Narasimha…
The Supreme Court on Tuesday (February 24) held that a defunct Scheme of Arrangement under the Companies Act cannot stall the Corporate Insolvency Resolution Process proceedings under the Insolvency & Bankruptcy Code, 2016. A bench of Justices Sanjay Kumar and K Vinod Chandran set aside the NCLAT’s decision, which had kept in abeyance the CIRP…
Following the liquidation of South African domestic airline SA Express in 2022, the liquidators are two steps away from fully winding up the company, awaiting the sale of its name and brand identity—valued at R150,000. The South Gauteng High Court delivered a final liquidation order for SA Express in September 2022, more than two years…
The Belgian subsidiary of the French fashion brand IKKS was declared bankrupt at the beginning of February by the French-speaking Commercial Court of Brussels. The bankruptcy affects around ten of its own stores and puts dozens of jobs at risk, reports business newspaper L’Echo. IKKS is a French premium fashion brand active in several European…
ADW Capital Management Sends Letter to Compass Diversified’s Board Calling for an Immediate Strategic Review Process and Orderly Liquidation of the Company The Manila Times Read the original article here
Some MoF Inc companies have been dormant for more than five years with no management or commercial activities, said deputy finance minister Liew Chin Tong. (Facebook pic) KUALA LUMPUR: Some companies owned by the Ministry of Finance Incorporated (MoF Inc) that have been dormant for years cannot be dissolved yet due to outstanding debts and…
Strongly Believes that Structural Discount to Net Asset Value Due to Underperformance and Misalignment of External Manager and Common Shareholders Cannot be Repaired ADW Capital Analysis Supports Potential Valuation of $26.00 Per Share Via Liquidation MIAMI BEACH, Fla., Feb. 24, 2026 (GLOBE NEWSWIRE) — ADW Capital Management, LLC, which beneficially owns approximately 7.65% of the…
French game publisher and accessory maker Nacon has today announced that at the tail end of last week, the company filed for insolvency after hitting serious financial trouble. Looking at the team’s press release on matters, it’s been revealed that majority shareholder Bigben Interactive has effectively failed to make a loan repayment, which now means…
With commodity prices, especially gold and platinum-group metals, delivering an unexpected revenue tailwind in South Africa, Finance Minister Enoch Godongwana steps into Parliament on Wednesday, February 25, armed with the strongest set of fiscal numbers in years. Markets are pricing in a credible consolidation plan that could finally stabilise public debt and open the door…
Bitdeer (BTDR) Dumps Bitcoin Treasury After Eight-Week Drawdown, Holds Zero BTC Bitcoin Magazine Read the original article here