The Supreme Court on Monday held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016, operates only against the corporate debtor. It ruled that courts or adjudicating authorities cannot enlarge its scope to cover directors, promoters, subsidiary companies, personal guarantors or any other persons unless the statute expressly provides so. The…
A 2 Zest Ltd, which traded as AtoZest, was placed into a creditors’ voluntary liquidation following professional advice, it said. The company, which ran from Mortimer Trading Centre in Hereford and had its registered office in Monkhide, near Ledbury, had catered for Formula one teams to dinners for more than 300 guests at Hereford Cathedral,…
Metal 3D printing firm 3DEO has filed for insolvency with all of its intellectual property assets up for sale. 3DEO was a parts production business that developed and applied a proprietary metal additive manufacturing process. The patented Intelligent Layering process paired binder jetting with layer-by-layer CNC milling to produce parts, with 3DEO focusing primarily on…
A common misconception about debt forgiveness could cost borrowers valuable time and money. PM Images/Getty Images Household budgets have been under increasing amounts of pressure recently as sticky inflation, elevated borrowing costs and record levels of consumer debt squeeze many people’s budgets to their limits. That, in turn, is putting many borrowers at risk of…
Varta files for self-administered insolvency, including storage business ESS News Read the original article here
ANJL prepares a formal opinion to challenge a study linking sports betting to household debt iGaming Brazil Read the original article here
The Supreme Court on Monday (July 27) observed that an operation of a moratorium under the Insolvency & Bankruptcy Code, 2016, against a residential project development company would not be a ground to reject the consumer complaints against its promoters/directors. “In the present case, Respondent No.1 alone is the corporate debtor against whom the CIRP…