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Printweek – Coldenhove bankrupt, hopes of rescue

Historic specialist papermaker Coldenhove has been declared bankrupt, but there are hopes of a rescue or continuation of the business. Coldenhove dates back to 1661 when the firm was originally founded in Eerbeek, in the Netherlands.  Its focus today from its modern mill is on high-value specialist papers, including products used for dye sublimation, pigment…

Financial Creditor Cannot be Forced to Wait for Consortium OTS When Debt and Default Stand Admitted: NCLT Admits CIRP [Read Order]

The National Company Law Tribunal (NCLT) Mumbai Bench has admitted a Corporate Insolvency Resolution Process (CIRP) plea filed by Bank of India against Distribution Logistics Infrastructure Private Limited holding that a financial creditor cannot be compelled to await conclusion of consortium led One Time Settlement (OTS) negotiations once debt and default stand established. The Financial…