Care provider plunges into liquidation – Care Home Professional
Care provider plunges into liquidation Care Home Professional Read the original article here
Toll debt hits six figures for some as lawmakers push penalty relief
BALTIMORE — Lawmakers in Annapolis are pushing a bill to help Maryland drivers buried in thousands of dollars of toll debt. The legislation would allow the Maryland Transportation Authority to waive some fees and penalties even after the debt is sent to Central Collections. According to the MDTA, 34,228 accounts currently owe over $10,000. For…
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Legal Consequences of Tariffs in Insolvency Process
Under the Trump administration, the U.S. has adopted sweeping tariffs on nearly every trading partner, with a promise of more on a range of strategic sectors including industrial metals and critical minerals, pharmaceuticals, semiconductors, and automobiles. These actions have provoked countermeasures from China and others. While these developments are rightly seen as geopolitical, trade actions—and…
Videocon Industries Limited Reports Q1FY25 Financial Results Under Corporate Insolvency Resolution Process – scanx.trade
Videocon Industries Limited Reports Q1FY25 Financial Results Under Corporate Insolvency Resolution Process scanx.trade Read the original article here
India seeks CIIRP to let boards run companies during bankruptcy
ARCs to gather 51% creditor support The new system moves away from creditors calling all the shots and lets company management stay in control, as long as they play by the rules with creditors. The goal? Speed things up: resolving cases in 150 days, with a possible 45-day extension, instead of 330. Asset reconstruction companies…
Tsubaki Nakashima Books Extraordinary Loss After Liquidating Singapore Holding Unit – TipRanks
Tsubaki Nakashima Books Extraordinary Loss After Liquidating Singapore Holding Unit TipRanks Read the original article here
IBC is a threat, but MSME creditors still get short-changed: Study
A comprehensive new study has revealed that the Insolvency and Bankruptcy Code (IBC) functions less as a formal resolution mechanism for Micro, Small, and Medium Enterprises (MSMEs) and more as a high-pressure settlement tool, where most cases are resolved before they even enter the courtroom. The report, titled “MSMEs in the IBC” and released by the Management…
Defaulting company promoters to be given new lease of life? All eyes on a big new IBC proposal
India’s insolvency framework could soon see a significant shift, with the proposed amendments to the Insolvency and Bankruptcy Code (IBC) introducing a mechanism that allows certain defaulting promoters to retain control of their companies during the resolution process, The Times of India reported on April 7. The system, according to the report (by Mayur Shetty),…