Scottish bus firm in liquidation over HMRC tax bill

Gillens Coaches Limited is now in the process of liquidation. Companies House listed a change of address from its registered base at Sandyford Place to the care of Glasgow-based Opus Restructuring. The petition was presented to Glasgow Sheriff Court by the Advocate General for Scotland for HMRC to order that Gillens Coaches Limited “be wound up…

Luxury Platform Balaan Declared Bankrupt 11 Months After Filing for Rehabilitation

Luxury platform company Balaan declares bankruptcy 11 months after filing for court receivership Balaan, a luxury online platform that had been struggling with a liquidity crisis, has finally gone bankrupt, 11 months after filing for corporate rehabilitation. According to legal sources on the 25th, the 15th Rehabilitation Division of the Seoul Bankruptcy Court (Presiding Judge…

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NCLT Approves ₹52.43 Cr Scheme, Exits CIRP

Birla Cotsyn (India) Limited’s financial commitment from acquirers reaches ₹52.43 Crore; admitted secured creditor claims stand at ₹656.78 Crore. Reader Takeaway: Higher recovery via NCLT approval; legal overhangs and implementation risks remain. What just happened (today’s filing) Birla Cotsyn (India) Limited is set for a revival after the National Company Law Tribunal (NCLT), Mumbai Bench,…