The creators of art for Absolum have been declared bankrupt
Troubles continue in the French studios. This time, Supamonks — one of the teams involved in the beat ’em up roguelike Absolum — has come under fire.
Magnet to close 15 stores as part of CVA restructuring plan
Kitchen retailer Magnet is to close 15 stores as part of a major restructuring plan designed to reduce unsustainable property costs and protect the stronger parts of the business. The company has announced that the closures will be implemented through a proposed Company Voluntary Arrangement, commonly known as a CVA. Magnet said the CVA is…
IBC Not ‘Holy Ganges’ To Wash Corporate Debtor’s Criminality Under PMLA: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Tuesday held that the moratorium under the Insolvency and Bankruptcy Code (IBC) does not prevent the Enforcement Directorate (ED) from attaching assets alleged to be proceeds of crime under the Prevention of Money Laundering Act (PMLA). It observed that Parliament did not enact the IBC…
Without Pay Since May, 150 Workers at Halberstadt Canning Company Face Collapse Amid Allegations of – AD HOC NEWS
Without Pay Since May, 150 Workers at Halberstadt Canning Company Face Collapse Amid Allegations of AD HOC NEWS Read the original article here
Access Denied
Access Denied You don’t have permission to access “http://www.india.com/business/provident-fund-pf-gratuity-company-law-nclat-jet-airways-case-sbi-liquidation-estate-bankruptcy-code-finance-ministry-nirmala-sitharaman-sbi-reserve-bank-8462417/” on this server. Reference #18.96464868.1782898269.1188ca0e https://errors.edgesuite.net/18.96464868.1782898269.1188ca0e Read the original article here
IBC is not Holy Ganges to wash off criminality: NCLAT says ED action under PMLA not hit by moratorium
The NCLAT was hearing appeals filed by the liquidator of a company (corporate debtor) against a July 19, 2022 order of the NCLT Ahmedabad. The NCLT had dismissed the liquidator’s applications seeking relief against actions taken by the Enforcement Directorate (ED). The case arose from ED proceedings against the corporate debtor over allegations of bank…
Melbourne lender Oak Capital in liquidation, pausing High Court and Supreme Court cases
Save You have reached your maximum number of saved items. Remove items from your saved list to add more. AAA When an employee of non-bank lender Oak Capital was chased through the lobby of the Rialto in Melbourne’s CBD by a TV reporter 18 months ago and cornered in a women’s toilet cubicle, it was…
NCLAT Sets Aside Insolvency Against Vikram Solar, as Debt Below Rs 1-crore Threshold
New Delhi, June 30: Appellate tribunal NCLAT has set aside an NCLT order directing the initiation of insolvency proceedings against Vikram Solar, noting that the operational debt involved was below the minimum threshold of Rs 1 crore prescribed under the Insolvency and Bankruptcy Code (IBC). A two-member bench of the National Company Law Appellate Tribunal…
NCLAT Upholds Full Provident Fund & Gratuity Payments to Jet Airways Workmen Outside Liquidation Estate Under IBC
The National Company Law Appellate Tribunal (NCLAT), New Delhi Bench has held that provident fund and gratuity dues payable to workmen and employees do not form part of the liquidation estate under the Insolvency and Bankruptcy Code (IBC), even if no separate provident fund or gratuity fund has been maintained by the corporate debtor. The…
Flato Faces Receivership on Eight Properties; Fate of Owen Sound’s Greystone Village Development Unclear
Seven companies related to Flato Developments Inc. — the Markham builder behind Owen Sound’s approved 716-unit Greystone Village subdivision — have been placed in receivership over roughly $29 million in defaulted loans. The Owen Sound lands are not named in the court order. An Ontario court granted the receivership order June 23 on application by…