Iron ore mining company Nathan River Resources (NRR) has gone into voluntary administration, owing more than $300 million in debt, unpaid wages and royalties. The company owns the Roper Bar mine, 600 kilometres south-east of Darwin in the Northern Territory. Work at the site stopped in April when the the company stood down its staff.…
The Chandigarh Bench of the National Company Law Tribunal (NCLT) has issued notice to Gridlogic Games Private Limited on an insolvency application filed by PhonePe Limited over alleged unpaid dues of ₹3.93 crore for promotional services rendered on its platform. The order was passed by Judicial Member K. Biswal and Technical Member K.K. Singh. While…
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EXCLUSIVE: Elysian Film Group Distribution Limited, the distribution arm of Danny Perkins‘ UK film company, is being liquidated. Elysian Film Group Distribution, which launched in 2020 with backing from CAA, is now the subject of a formal insolvency process. Perkins’ production company, Elysian Film Group, will continue trading. FRP Advisory, a financial advisory firm, has…
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For years, the standard playbook for African tech startups seeking international venture capital was simple: establish a holding company in a European jurisdiction like the Netherlands, Delaware, or the UK, channel investment through it, and run operations via local subsidiaries in markets like Lagos, Nairobi, or Johannesburg. However, a public bankruptcy filing in Amsterdam reveals…
The National Company Law Tribunal at Bengaluru has issued notice to Flipkart Internet Private Limited on a plea filed by Applabs Media Private Limited seeking initiation of insolvency proceedings over an alleged operational debt of ₹1.69 crore. A coram of Judicial Member Mahendra Khandelwal and Technical Member Radhakrishna Sreepada passed the order. According to the…