In a significant setback for the beleaguered edtech company BYJU’S, the Supreme Court (SC) has declined to stay the meeting of the Committee of Creditors (CoC) organized by the resolution professional handling the firm’s insolvency proceedings. This decision follows ongoing legal battles related to the company’s financial distress. Supreme Court Decision and Legal Proceedings The…
(Bloomberg) — Destiny Pharma Plc, a British biotech company chaired by City veteran Nigel Rudd, has appointed insolvency practitioners after failing to secure a rescue deal. Destiny Pharma, which earlier this month delisted from the London Stock Exchange’s Alternative Investment Market, had been unable to secure a licensing partner to fund clinical trials for its…
The object of the LAPL, being the generation of power, is on the same line as the main line of the company’s business. Image: Bloomberg 2 min read Last Updated : Aug 22 2024 | 11:03 PM IST Adani Power on Thursday said the NCLT Hyderabad bench has approved its plan to acquire Lanco…
Arrival, the electric vehicle startup that made significant commitments in the Charlotte region, is bankrupt after years of financial struggles. PREVIOUS: Electric delivery van microfactory to bring more than 250 jobs to Charlotte The company announced this week that it filed for bankruptcy on May 16 in Luxembourg, where Arrival is based. Arrival was declared…
More companies went bust in past year than during financial crisis More companies in England and Wales went bust in the last year than at the height of the financial crisis, the latest insolvency figures show. There were 25,551 insolvencies in the 12 months from August 2023 to July 2024, new data from the Insolvency…
Getty Images Local authorities are at risk of bankruptcy if funding from the Scottish government is not improved, council leaders have said. Cosla issued the warning in a briefing paper ahead of the Scottish budget on 19 December. The local government body said councils need nearly £14.4bn in the budget just to “stand still”. The…
New Delhi: The Supreme Court on Thursday refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against embattled ed-tech firm Byju’s. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra, however, said…
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Glenn Armstrong gave false and misleading information to obtain £273,000 from four individuals after a creditor applied to make him bankrupt in April 2018 Creditors lost hundreds of thousands of pounds because of transfers Armstrong made following the presentation of the bankruptcy petition The Bankruptcy Restrictions Order (BRO) places a number of restrictions on Armstrong…
The Polish infrastructure minister, Dariusz Klimczak, maintains that PKP Cargo will not go bankrupt. The company is “too important”, he says. The minister already sees improvements at the company. “I would like to reassure all those who are worried about the PKP Cargo company. The company has no right to go bankrupt and will not…