Category Archives: Bankruptcy

Native Instruments acquired by inMusic, owner of Akai and Moog, three months after entering insolvency

Music technology and professional audio company inMusic has signed a definitive agreement to acquire Native Instruments, the Berlin-based music tech firm behind Kontakt, Traktor, iZotope, Plugin Alliance, and Brainworx. The deal, announced on Friday (May 8), comes roughly three months after Native Instruments entered preliminary insolvency proceedings in Germany. The transaction is expected to close in the coming weeks, inMusic and Native…

Court halts Wootzano liquidation initiated by Innovate UK

DealsManufacturing Newcastle robotics firm Wootzano has resumed trading after the Court of Session in Edinburgh halted liquidation proceedings. It followed the confirmation of approximately £237 million in contracted distribution agreements in a report submitted to the court. The court granted a sist – a Scottish legal mechanism that pauses the liquidation process and allows a…

Reliance Telecom: CBI Investigates Reliance Communications Director, Seizes Forensic Audit Report and Tax Records, ETLegalWorld

The Reliance Communications Limited on Sunday said officials of the Central Bureau of Investigation carried out a search and seizure operation at the residence of Grace Thomas, a non-executive and non-independent director of the company, on May 9. In a regulatory filing, RCom said the search was conducted in connection with her earlier role as…

‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount up | Somalia

As US troops withdrew from Somalia in the spring of 1994, a teenaged Muse Omar Jama began working as an exchange trader in Mogadishu’s Bakara market. More than three decades later, he still does the same job, but wonders for how much longer. Jama, 49, sits in a plastic chair in the one-room office he…

Arbitration Clause In MoU Does Not Oust Insolvency Jurisdiction Under IBC: NCLT Mumbai

Arbitration clauses in Memoranda Of Understanding (MOU) do not bar insolvency proceedings when debt and default are established, the National Company Law Tribunal’s Mumbai bench has held while admitting PS IT Infrastructure & Services Ltd into insolvency. “The presence of an arbitration clause in an MoU does not oust the jurisdiction of the Adjudicating Authority…

Bombay HC: NCLT Has Jurisdiction Over Internal Company Mismanagement Disputes – BW Legal World

Bombay HC: NCLT Has Jurisdiction Over Internal Company Mismanagement Disputes  BW Legal World Read the original article here

QVC shareholders fight bankruptcy plan they say favors creditors – Crain's Chicago Business

QVC shareholders fight bankruptcy plan they say favors creditors  Crain’s Chicago Business Read the original article here

Why Ryanair’s CEO Is Warning That European Airlines Could Go Bankrupt This Summer

Airline CEOs are often outspoken in times of economic uncertainty, especially when it affects the aviation industry. The CEO of Ryanair, Michael O’Leary, United Airlines’ Scott Kirby, and Delta Air Lines’ Ed Bastian are some of the most frequent contributors to aviation headlines. Ryanair’s O’Leary is the latest to sound off amid ongoing regional tensions…

Ex-Hoixe Cake Shop owner dies after falling from Kwun Tong industrial building while chasing suspected burglar

A 70-year-old former bakery owner died on Sunday after falling from an industrial building in Kwun Tong while reportedly searching for a suspected burglar, police said. The victim was identified as Siu Wai-kin, former owner of the now-defunct Hoixe Cake Shop chain. He operated a bakery workshop at South China Factory Building on Wai Yip…

CBI Conducts Search and Seizure Operation at Residence of Reliance Communications Director – scanx.trade

CBI Conducts Search and Seizure Operation at Residence of Reliance Communications Director  scanx.trade Read the original article here