The National Company Law Appellate Tribunal (NCLAT) has set aside the penalty imposed against lenders of debt-ridden Mudra Denim, saying there was no laxity on their part for delay in insolvency process. The Mumbai bench of the National Company Law Tribunal had, on November 11 last year, while deciding creditors’ plea seeking extension of deadline…
As we enter 2025, we bring you a list of companies against whom the corporate insolvency resolution process started. The top pick for us is Sunblink Real Estate, which has been dragged to the insolvency court by Piramal Capital & Housing Finance Ltd for defaulting on a loan of Rs 846 crore. Case 1: Piramal…
R3’s analysis of Creditsafe data revealed a minor drop from 211 in November to 203 in December. This figure includes administrator and liquidator appointments and creditors’ meetings. However, this number is significantly lower than October’s 293, the highest figure since March 2022. The South East’s insolvency-related activities are the sixth highest in the UK, behind…
Mui Kai-ming, brother of late singer Anita Mui declared bankrupt after losing compensation case Dimsum Daily Read the original article here
Taking all forms of insolvency – including bankruptcy – into account, a total of 24,251 people were declared insolvent in the third quarter of the year in England and Wales. This was a 6% increase on the previous three months, and 19.3% higher than the same quarter last year. The Insolvency Service said this was…
Blue Cycle, a groundbreaking plastic recycling company based in Heerenveen, Netherlands, has declared bankruptcy. Established in late 2022, the company made headlines as the first in the nation to convert plastic waste into oil, offering an innovative solution to the growing plastic waste crisis. However, despite its technological success, Blue Cycle succumbed to mounting…
Company declared insolvent after liquidation The Press Read the original article here
Previously, we shared the latest statistics from the Malaysia Department of Insolvency (MdI), which revealed that a whopping 31,387 individuals in our country have been declared bankrupt since 2020, a majority of which (49.11%) were due to personal loans. Now, MdI director-general Datuk M Bakri Abd Majid revealed that among those who are insolvent are…
Audrey and Eddie Buckham worked hard and saved all their lives. They were still both working in 2020, Audrey as an administrator for the NHS and Eddie as a dispatch driver, when Eddie started to lose weight. He underwent medical investigation and for months doctors couldn’t establish what was wrong. Then, in October 2020, Eddie…
German air taxi manufacturer Volocopter on Monday said it had filed for bankruptcy at the Karlsruhe District Court, days after one of its close competitors was saved from collapse. However, the company said it was still seeking investors and planned to press ahead with its plan to enter the commercial air taxi market. Why is…