Liquidators have been appointed to Sea Glass Limited following a successful petition from HMRC for the Port Seton-based company to be wound up. James Alexander Dewar of Edinburgh-based Interpath was appointed liquidator by Edinburgh Sheriff Court. A winding-up petition from HMRC is a legal demand to the court to close down a company that is…
The Supreme Court of India has dismissed an appeal filed by Dhanlaxmi Bank Limited, affirming that the Insolvency and Bankruptcy Code (IBC) should not be utilized as a coercive mechanism for debt recovery in cases involving intertwined contractual obligations. The Court upheld an order by the National Company Law Appellate Tribunal (NCLAT) which had set…
An Iconic Fruit Company Went Bankrupt. Now, It’s Chopping Down 420,000 Trees inc.com Read the original article here
Prime Focus has moved the National Company Law Appellate Tribunal (NCLAT) seeking urgent relief after the National Company Law Tribunal (NCLT), Mumbai Bench, orally pronounced admission of an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Reliance Alpha Services Private Limited. In a regulatory filing to BSE and NSE…
Household Debt Hit $18.8 Trillion, But Surprisingly Higher Paychecks Aren’t Helping 24/7 Wall St. Read the original article here
Prime Focus Ltd, part of the media & entertainment industry, on Thursday informed exchanges that the National Company Law Tribunal (NCLT), Mumbai Bench, admitted a petition filed by Reliance Alpha Services Pvt Ltd, alleging debt of around Rs 353.79 crore. “Pursuant to Regulation 30 read with Schedule III, Part A of the SEBI (Listing Obligations…
Spanish seamless tube supplier Tubos Reunidos (TR) has filed for voluntary administration, Kallanish notes. The company says in a note to the Spanish National Securities Market Commission (CNMV) that it has failed to secure either new financing or strategic partnerships aimed at boosting the group’s business. “The board has taken note of the fact that,…
Poland Backs Joint EU Debt to Help Finance Defense Spending Bloomberg.com Read the original article here
The National Company Law Tribunal (NCLT), Mumbai Bench, has admitted a petition against Prime Focus Limited under Section 7 of the Insolvency and Bankruptcy Code over an alleged financial debt of ₹353.79 crore, according to a company filing. The petition was filed by Reliance Alpha Services Private Limited, which has claimed the debt, including interest,…
For decades, real estate finance has lived in Excel. That era is ending. What was once a reliable tool has become a liability in an age of fluctuating interest rates, complex swap components and rapid-fire portfolio growth. New tools have emerged to give managers the support they need to keep pace with today’s complex debt…