The Joint Committee of Parliament on the Corporate Laws (Amendment) Bill, 2026 has recommended that dedicated IBC benches at the National Company Law Tribunal (NCLT) for insolvency cases be constituted as a binding statutory obligation rather than left to administrative discretion, and has doubled the monetary threshold for summary liquidation to Rs 2 crore. In…
According to the court decision, Mr Johnston and Mr Monks directed four separate transfers in 2022 totalling $2.88 million, held by Pieman Resources after the sale of its interest in the Beaconsfield gold mine, to two entities on which they served as directors. Read the original article here
Good Natured Products Industrial Canada LP and five related operating companies filed notices of intention to make a proposal on June 22, 2026, followed by their Brampton real estate holding company on July 10, as the sustainable-packaging group sought protection to complete a going-concern sale to Jones Healthcare Group. Justice Steele extended the stay through…
Final Bell Holdings International Ltd., a Vancouver-based cannabis services and hardware company, made a voluntary assignment in bankruptcy on July 28, 2026. Its statement of affairs lists approximately $46.6 million in liabilities against assets with an estimated realizable value of $3, leaving a deficiency of approximately $46.6 million. Almost the entire debt is attributed to…
1001281812 Ontario Inc., operating as TNP Panel Company, and related companies TRS Components Ltd., Plant 22 Ltd. and 976711 Ontario Inc., operating as Terra Nova Truss (collectively, the “TRS Companies”), were placed into receivership on July 31, 2026. Celina Capital Corporation brought the receivership application in respect of TNP, while Bank of Montreal brought the…
A construction company has failed to convince the court that it was solvent after it was issued a winding-up application over $100k in subcontracting work allegedly unpaid for. After performing work for a construction company for a shortfall of over $100,000, one subcontracting company has had its winding-up application adjourned, with the court offering the…
A UK travel company specialising in ski holidays has entered voluntary liquidation, with all package holidays booked through the firm cancelled. Ski Yodl Ltd, which traded as Yodl, was incorporated in March 2018 and offered ski holiday packages to destinations including the French Alps. According to its LinkedIn profile, Ski Yodl described itself as “a…
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by the consortium of Inox Neo Energies Limited and Authum Investment & Infrastructure Limited for Wind World (India) Limited (WWIL), paving the way for the acquisition of the company under the corporate insolvency resolution process (CIRP) under the Insolvency…
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The National Company Law Tribunal (NCLT) at Amaravati has held that once a corporate debtor is admitted into the Corporate Insolvency Resolution Process (CIRP), its suspended management has no authority to operate the company’s bank accounts or transfer its funds. A coram of Judicial Member Kishore Vemulapalli and Technical Member Umesh Kumar Shukla observed that…