Mustard Seed declares bankruptcy, announces closure after asking members to help pay off debts – CBC.ca

TheMustard Seed has declared bankruptcy and announced it is closing its doors. In an email to members sent Monday and obtained by CBC, the boardsaysits unsecured debts exceedits assetsby “well over $300,000.” “On declaration of bankruptcy the volunteer board had to resign,” the email said. “All the staff have lost their jobs. This is an…

NCLT Admits SBI’s Personal Insolvency Application Against Venugopal Dhoot – BloombergQuint

Sep 13 2021, 7:18 PMSep 13 2021, 7:59 PMSeptember 13 2021, 7:18 PMSeptember 13 2021, 7:59 PM The Mumbai bench of National Company Law Tribunal has admitted a personal insolvency petition against Venugopal Dhoot, erstwhile promoter and personal guarantor of Videocon Industries Ltd., filed by its financial creditor State Bank of India.While the oral order…

What directors need to think about as protections to prevent insolvency wind down – Nicola Ross – The Scotsman

Specifically, the suspension of the provisions around wrongful trading will be over and creditors can once again seek to put companies who owe them money into liquidation. The end of protections has already been delayed numerous times. The UK Government is undoubtedly concerned that ending the protections all at once will lead to a real…