Anil Ambani’s Reliance Infra says NCLAT suspends NCLT order admitting co into insolvency; shares edge up over 10%

In a major relief to Reliance Infrastructure, the National Company Law Appellate Tribunal (NCLAT) on Wednesday suspended the National Company Law Tribunal’s (NCLT) order that had admitted the company into the Corporate Insolvency Resolution Process (CIRP). Shares of the Anil Ambani-owned company skyrocketed, trading at Rs 378.35 apiece on the BSE up 10.64 per cent…

Madras HC Dismisses Writ petition [Read Order]

The Madras High Court in its recent judgment has dismissed the writ petition holding that a challenge against order passed by Liquidator is appealable under the Insolvency and Bankruptcy Code, 2016. The petitioners filed the writ petition challenging the communication issued by the second respondent in response to their letter dated 22.12.2020, wherein it was…

Napoli declared bankrupt – TNT Sports

“We cannot announce the contents of the decision until the parties have been informed,” Naples bankruptcy court president Vito Frallicciardi told reporters. But ANSA cited court sources saying they had ruled Napoli bankrupt and that officials had already been nominated to handle relations with creditors. Napoli were Italian champions in 1987 and 1990 when they…

New details emerge as BCN3D Files for Voluntary Bankruptcy, Supernova Addresses Rumors

3D printer manufacturer BCN3D has filed for voluntary bankruptcy, according to official court documents seen by 3D Printing Industry. First reported last week by Spanish digital outlet Crónica Global, the Spanish OEM has reportedly entered proceedings after failing to negotiate a restructuring of its outstanding debts with creditor banks last year.  Barcelona’s Commercial Court No.…