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The Supreme Court on Monday noted from a report of the Enforcement Directorate that debts worth Rs 2983 crores of certain companies of the Anil Dhirubhai Ambani Group (ADAG) were settled in insolvency proceedings for merely Rs 26 crores. All these acquisitions were facilitated by 8 Non-Banking Finance Companies through “Project Help”, the Court noted.A…
UK wholesaler servicing Morrisons and Co-op closes after entering liquidation News Shopper Read the original article here
| Kyabram Free Press Kyabram Free Press Read the original article here
According to analysis of insolvency data by accountancy group UHY Hacker Young, the rise was largely driven by a 33% increase in the number of pub businesses shuttering in Scotland where the number of failures was up from 40 to 53 last year. Join our new WhatsApp channel: The Morning Round-Up Get the biggest pub…
Allianz posts record 2025 profit but faces a flat 2026 outlook due to rising corporate insolvency risks flagged by its trade credit unit, despite a higher dividend. Investors in Allianz are grappling with a stark dichotomy: record-breaking profits on one hand and a deteriorating credit environment on the other. The insurance giant’s recent operational performance…
The National Company Law Tribunal (NCLT), New Delhi Bench, has permitted the withdrawal of corporate insolvency resolution proceedings (CIRP) initiated against ATS Heights Private Limited, the developer of the ATS Knightsbridge project, in exercise of its powers under Section 12A of the Insolvency and Bankruptcy Code (IBC). {{^htLoading}} {{/htLoading}} The tribunal, through its order dated…
Last Wednesday (11 February), the Federal Court of Australia allowed liquidator Peter Krejci to proceed with his winding-up application against Teddy Panella, Sam Cassaniti and Armstrong Scalisi Holdings, trading as Sydney accounting firm CAP Accounting. Krejci alleged that Cassaniti was behind a tax avoidance scheme that utilised various labour hire companies to divert funds that…
The furniture retail sector has suffered from economic distress in the last year with major home furnishing companies closing stores and filing for bankruptcy protection. Companies that have filed for bankruptcy include AFC Acquisition Corp., owner of Albuquerque-based furniture chain American Home Furniture & Mattress, which filed for Chapter 11 bankruptcy to reorganize its business, close certain…
A women’s clothing retailer has confirmed it will shut all of its remaining UK stores after entering voluntary liquidation, marking the end of a high street presence that has spanned decades. Select Fashion announced that its branch inside the Pentagon Shopping Centre in Chatham is among those set to close, after notices were placed in…