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My Community winding up due to liabilities

SINGAPORE – Heritage company My Community Limited has entered provisional liquidation after its executive director declared it cannot continue its business due to liabilities, based on notices published in the Government Gazette on July 16. The notices showed that the company’s executive director and founder Kwek Li Yong had on July 3 applied to have…

Curaçao Chronicle | SOAW and Ombudsman Seek Long-Term Solutions to Poverty, Debt and Water Disconnections

Local, Politics, | By Correspondent July 21, 2026   WILLEMSTAD – Poverty reduction, debt assistance and preventing water disconnections were among the key issues discussed during a meeting between Minister of Social Development, Labor and Welfare Charetti America-Francisca and the Curaçao Ombudsman. According to SOAW, both parties found that they share the same…

Meter shortages: eThekwini Municipality forced to suspend electricity debt relief programme

The eThekwini Municipality’s Energy Management 80/20 credit control debt relief programme implementation was suspended due to a shortage of electricity meters.  According to the municipality’s Audit Risk Committee (ARC), this was one of the significant matters of concern requiring urgent resolution. Professor Imtiaz Vally, chairperson of ARC, presented the report for the third quarter that ended on…

Forensic Audit Report Cannot Defeat Corporate Debtor Ownership Rights Over Fixed Deposits During CIRP: NCLT [Read Order]

The NCLT Ahmedabad Bench has held that allegations contained in a forensic audit report cannot extinguish a corporate debtor ownership rights over fixed deposits maintained in its name during the CIRP. The Bench stated that a forensic audit report, by itself, cannot divest a corporate debtor of ownership over monies standing in its bank accounts…

Interest on ICDs Cannot be Excluded from Financial Debt Once Corporate Debtor acknowledges Liability: NCLAT [Read Order]

The National Company Law Appellate Tribunal (NCLAT) has held that the interest component on Inter-Corporate Deposits (ICDs) cannot be excluded from the computation of financial debt under the Insolvency and Bankruptcy Code, 2016 (IBC), where the Corporate Debtor has acknowledged its liability. The Appellate Tribunal allowed the appeal filed by Wild Dreams Trading Company Pvt.…