Sara Lee goes into voluntary administration in Australia with FTI Consulting appointed as voluntary administrators

Liquidation

After 50 years of manufacturing frozen cheesecakes, pies, crumbles and ice cream in Australia, Sara Lee Holdings has gone into voluntary administration. Key points: Vaughan Strawbridge, Kathryn Evans and Joseph Hansell of FTI Consulting have been appointed as voluntary administrators The administrators are seeking to restructure or sell the business while its operations continue  Sara Lee was…

Access Denied

Bankruptcy

Access Denied You don’t have permission to access “http://www.business-standard.com/industry/news/ai-business-cycles-stressed-assets-ibc-ms-sahoo-126062100366_1.html” on this server. Reference #18.8f58d617.1782032984.271e4bdd https://errors.edgesuite.net/18.8f58d617.1782032984.271e4bdd Read the original article here

Insolvency Plea Admitted against Kraft Paper Manufacturer: NCLT Finds Debt and Default Proven u/s 9 IBC [Read Order]

Liquidation

The National Company Law Tribunal (NCLT), Bengaluru Bench, has admitted an insolvency petition filed by the applicant under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The tribunal found that the debt and default were clearly established, noting that the corporate debtor failed to pay operational dues exceeding ₹ 1.96 crore despite statutory demand notices and acknowledged liability, thereby warranting initiation of…

Financial Distress No Shield: NCLT Admits Sec. 9 Plea, Initiates CIRP and Moratorium Against Corporate Debtor [Read Order]

Liquidation

In a recent ruling, the National Company Law Tribunal (NCLT), Bengaluru Bench, has admitted an insolvency petition filed by the petitioner under Section 9 of the Insolvency and Bankruptcy Code, 2016, after finding that the corporate debtor’s plea of financial distress could not absolve it from repayment obligations. The operational creditor sought initiation of the Corporate Insolvency…

Woori Financial steps up productive finance with $6.5 bil. boost

Debt Help

Woori Financial Group Chairman Yim Jong-yong, right, speaks during a meeting at the group’s headquarters in Seoul, Friday. Courtesy of Woori Financial Group Woori Financial Group will expand its productive and inclusive finance programs by a combined 10 trillion won ($6.5 billion), stepping up support for strategic industries while broadening assistance for vulnerable borrowers, the…