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New Delhi: The National Company Law Appellate Tribunal (NCLAT) has directed that insolvency proceedings against Future Lifestyle Fashions be concluded within three months, while dismissing an appeal filed by an operational creditor. A two-member bench comprising Yogesh Khanna and Ajai Das Mehrotra said, “However, we request the Resolution Professional, the NCLT to conclude the proceedings…
The Aberdeen-based Doric Pub Company Limited operated the Kittybrewster Bar and the Brig O’Dee Bar in the city. The company agreed to a resolution “that the company cannot by reason of its liabilities, continue its business, and that it is appropriate to wind up the company and accordingly, that the company be wound up voluntarily”,…
Cameroon’s state debt-recovery agency is expanding its reach beyond national borders. The Société de recouvrement des créances (SRC), recently mandated to administer frozen, seized and tax-related assets as part of broader anti-money laundering efforts, is turning to Interpol to strengthen the recovery of assets held overseas. For SRC Director General Marie Rose Messi, cross-border capacity…
The Insolvency and Bankruptcy Code, originally designed to unseat promoters of companies defaulting on loans, is now opening a window for some of them to stay on and attempt a revival under creditor oversight.The original framework was unambiguous. Section 29A of the Insolvency and Bankruptcy Code barred wilful defaulters and delinquent promoters from bidding for…
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, has been recently passed by Parliament to strengthen India’s insolvency framework. The parent law, the Insolvency and Bankruptcy Code, was enacted in 2016 to create a time-bound mechanism to deal with companies that default on their loans by reviving them through resolution or liquidating them if resolution…
Applebee’s Restaurant Closures: See the List of Doomed Locations After a Major Franchisee Went Bankrupt inc.com Read the original article here
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Got story updates? Submit your updates here. › As insolvency filings surge in Germany, access to detailed data becomes essential for businesses to assess financial risks and respond to market disruptions.Oakland Park Today Germany Insolvencies reports that insolvency filings have surged by more than 300% in five years, cutting across sectors and increasing risk exposure…