The bankruptcy court in Mumbai approves IHL Lifesciences Pvt Ltd‘s acquisition of the listed firm Parental Drugs India Ltd. Before the tribunal’s approval, the Company’s Committee of Creditors (CoC) had approved IHL Lifesciences’ resolution plan for Parental Drugs India with 100% of the vote. “It (resolution plan) shall be binding on the corporate debtor (Parental…
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His pitch is to convince both the NSW and Queensland governments that their interests would be best served by keeping Star Entertainment afloat. He will be arguing that an administrator would be disinclined to fund the casinos to keep their doors open, and that if governments want to protect the 9000 jobs at stake, they…
Electric vehicle company Canoo files for bankruptcy KNWA Read the original article here
Using the same or similar name of a company that is in insolvent liquidation is prohibited by s 216 of the Insolvency Act 1986 (IA). A director who acts in breach of s216 by being a director of, or being involved in the promotion, formation or management of a company that is using a prohibited…
CLEO Energy Corp. (“CLEO” or the “Company”) has filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to section 50.4 (1) of the Bankruptcy and Insolvency Act (the “BIA”) and Alvarez & Marsal Canada Inc. (“A&M”) is acting as Proposal Trustee of CLEO for the NOI process. A sale and solicitation process…
Scottish corporate insolvencies down 2.3% YOY Accountancy Today Read the original article here
Companies and industries that are not moving towards zero-carbon emissions will be punished by investors and go bankrupt, the governor of the Bank of England has warned. Mark Carney also told the Guardian it was possible that the global transition needed to tackle the climate crisis could result in an abrupt financial collapse. He said…
Menzies business recovery partner Giuseppe Parla emphasised that many businesses may continue to face financial uncertainty in the New Year. Credit: Miha Creative/Shutterstock. The latest UK government statistics reveal a 5% year-on-year decline in registered company insolvencies across the UK, with 23,872 cases in 2024. According to data released by The Insolvency Service, there was…
The saga is fit for a comic book: meager beginnings, a rapid ascendance and toppling rivals to achieve sweeping power. Diamond Comic Distributors’ latest chapter, however, reads as a downfall. After decades as the country’s top comic book distributor, Diamond filed for Chapter 11 bankruptcy last week, intending to sell off some of the healthier…