BSE, NSE issue guidelines for companies undergoing insolvency proceedings – Mint

In a bid to address information asymmetry among investors, stock exchanges, BSE and NSE, on Friday came out with a framework for dealing with companies undergoing corporate insolvency resolution process. In the recent past, the exchanges have come across instances where the approved resolution plan provides for delisting of the company or write off/cancellation/extinguishment of…

Explained: Why did NCLAT dismiss insolvency proceedings against OYO subsidiary? – The Indian Express

Insolvency proceedings against OYO Hotels and Homes Pvt Ltd (OHHPL) have been dismissed by the National Company Law Appellate Tribunal (NCLAT) despite multiple hoteliers claiming unpaid debts by the company. Why was OYO undergoing insolvency proceedings? OYO was undergoing insolvency proceedings over a Rs 16-lakh claim made by a Gurgaon-based hotelier against the company. Newsletter…

Laval police investigate after homebuyers lose million when real estate developer goes bankrupt – CTV News Montreal

LAVAL, QUE. — After speaking to some 20 families who lost millions in deposits when local real estate developer Bel-Habitat went bankrupt last week, Laval Mayor Marc Demers is promising support. “Given the magnitude of the situation, we have asked the general management to look at the tools we have available to help you,” he…

Sackler family moves closer to OxyContin settlement as key states drop opposition – The Washington Post

The resolution calls for an additional $50 million from the family and acceleration of some milestone payments, according to the mediation document. In all, the contribution from the Sacklers will be about $4.5 billion over nine years. Purdue Pharma, which has not actively marketed OxyContin for two years, will be wound down or sold by…

Jaypee insolvency: IRP files Suraksha groups resolution plan with NCLT – Business Standard

Jaypee Infratech’s Interim Resolution Professional (IRP) Anuj Jain has filed Suraksha group’s bid, which was recently approved by financial creditors, with the National Company Law Tribunal. In a regulatory filing on Thursday, the company informed that the IRP on July 7 filed “the resolution plan of Suraksha Realty Ltd along with Lakshdeep Investments and Finance…