The tribunal noted that even in cases where the corporate debtor is not facing insolvency or liquidation proceedings before the NCLT, an application under section 95 may be made against the personal guarantor The National Company Law Appellate Tribunal ( NCLAT ) bench in New Delhi has ruled that, even in cases where the National…
CreditorWatch chief economist Ivan Colhoun said businesses were facing the same cost pressures as consumers, including higher electricity, insurance and rental costs. “Together with some greater caution in discretionary spending and softness in interest-rate-sensitive sectors of the economy, this unsurprisingly has led to higher voluntary business closures and some rise in insolvencies,” he said. Loading…
The owner of the beauty brand Avon in the UK, Europe and Latin America has filed for bankruptcy as it tries to off-load more than $1bn of debt, including millions of dollars in liabilities linked to lawsuits alleging that talc in its products caused cancer. Avon Products Inc (API), a subsidiary of Brazil’s Natura which…
1. SWAMIH Fund Enables Completion of 50,000 Stalled Homes Date: January 25, 2025 The SWAMIH Investment Fund I has emerged as a transformative initiative in India’s real estate sector, delivering over 50,000 homes to buyers by providing last-mile funding to stalled housing projects. This government-backed fund aims to revive delayed projects and boost buyer confidence…
Boris Becker has been declared bankrupt over a debt outstanding since October 2015. Lawyers for the three-times Wimbledon winner pleaded with a bankruptcy court registrar in London on Wednesday for “a last chance” to pay a long-standing debt. However, registrar Christine Derrett, who recalled watching him play, said it was “with regret” she had concluded…
Tupperware Goes Bankrupt: How The Colourful Tiffin Box Maker Lost Its Vibe I Explained The Times of India Read the original article here
Three years ago, when Bob and Sandy Curtis moved into an upscale continuing care retirement community in Port Washington, New York, he thought they had found the best possible elder care solution. In exchange for a steep entrance fee — about $840,000, funded by the sale of the Long Island house they had owned for…
Royal Helium (TSXV: RHC) (OTCQB: RHCCF) has announced the cancellation of its previously announced private placement offering of debenture units from December 2, 2024. On January 20, 2025, the company filed a notice of intention under the Bankruptcy and Insolvency Act (BIA) after failing to secure an out-of-court restructuring solution.…
There has been a record jump in the number of UK businesses in critical financial distress, according to insolvency specialists. Businesses in the most distress include those in hospitality, leisure and retail, but the construction industry is also facing challenges. Insolvency experts Begbies Traynor said a company can be considered to be in critical financial…
The number of people going financially insolvent in England and Wales last year was 14% higher than in 2023, driven by debt relief orders (DROs) jumping to a record high, according to the Insolvency Service. Some 117,947 personal insolvencies were registered in 2024, 14% higher than the 103,434 recorded in 2023. Within the total, there…