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UK students who paid thousands of pounds for summer and gap year placements on overseas conservation projects have lost everything after their eco tour operator shut down. GVI, which offered volunteer and internship placements on wildlife and marine projects across the world, was continuing to advertise trips until it went into liquidation and removed its…
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Monzo has introduced a debt consolidation loan service using ClearScore technology, making it the first UK bank to use ClearScore’s automated debt consolidation system. The service lets Monzo customers combine borrowing into a single loan, while ClearScore’s Clearer System settles existing debts directly with the relevant lenders. This removes the need for customers to contact…
Monzo has introduced a debt consolidation loan service using ClearScore technology, making it the first UK bank to use ClearScore’s automated debt consolidation system. The service lets Monzo customers combine borrowing into a single loan, while ClearScore’s Clearer System settles existing debts directly with the relevant lenders. This removes the need for customers to contact…
Market snapshot: BPL Limited has secured a massive legal victory as the National Company Law Tribunal (NCLT) Kochi bench dismissed a ₹1,323 crore insolvency plea filed by Morgan Securities and Credits Private Limited. The tribunal ruled that the Insolvency and Bankruptcy Code (IBC) cannot be misused as a parallel recovery tool for arbitral awards, especially…
Your browser does not support the audio element. The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, comprising Justice N. Seshasayee (Judicial Member) and Arun Baroka (Technical Member), has observed that the Insolvency and Bankruptcy Code, 2016 is intended to maximise value through a time-bound resolution process and cannot permit indefinite delays…
Koko Networks, once heralded as the crown jewel of Africa’s clean-cooking transition, has officially entered insolvency management, laying off over 700 employees and leaving approximately 1.5 million Kenyan households without their primary source of cooking fuel. The catastrophic collapse exposes the profound fragility of climate-tech ventures that rely exclusively on complex global carbon finance models.…
Morgan Securities filed the plea under Section 7 of the IBC. It sought initiation of corporate insolvency resolution process against BPL. It also sought appointment of an interim resolution professional and declaration of moratorium. The alleged default amount was ₹13,23,70,00,924. The date of default was stated to be June 14, 2007. The dispute arose from…