IBC Does Not Require Prior CIRP Against Corporate Debtor To Initiate Guarantor Insolvency: NCLAT Delhi

The New Delhi National Company Law Appellate Tribunal (NCLAT) on 14 July held that financial creditors can directly initiate insolvency proceedings against personal guarantors without any pending Corporate Insolvency Resolution Process (CIRP) or liquidation proceedings against the corporate debtor. Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha allowed appeals filed by…

Elite Bathrooms Enters Voluntary Liquidation in Scotland

UK: Edinburgh-based Elite Bathrooms Ltd, a bedroom and bathroom fitting specialist, has entered voluntary liquidation, with Christopher David Horne of Robson Scott Associates appointed as liquidator on July 8, followed by the formal winding-up process on July 13. The company, which had traded for nearly two decades and was registered in North Meggetland, Edinburgh, specialized…

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