The Belgian subsidiary of the French fashion brand IKKS was declared bankrupt at the beginning of February by the French-speaking Commercial Court of Brussels. The bankruptcy affects around ten of its own stores and puts dozens of jobs at risk, reports business newspaper L’Echo. IKKS is a French premium fashion brand active in several European…
The Supreme Court has ruled that attachment and confiscation proceedings initiated under the Prohibition of Benami Property Transactions Act, 1988 (Benami Act) cannot be challenged before the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT) under the Insolvency and Bankruptcy Code, 2016 (IBC). The bench of Justice Pamidighantam Sri Narasimha…
The Belgian subsidiary of the French fashion brand IKKS was declared bankrupt at the beginning of February by the French-speaking Commercial Court of Brussels. The bankruptcy affects around ten of its own stores and puts dozens of jobs at risk, reports business newspaper L’Echo. IKKS is a French premium fashion brand active in several European…
French game publisher and accessory maker Nacon has today announced that at the tail end of last week, the company filed for insolvency after hitting serious financial trouble. Looking at the team’s press release on matters, it’s been revealed that majority shareholder Bigben Interactive has effectively failed to make a loan repayment, which now means…
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24 By Lizzy Chirkpi The Federal High Court of Nigeria in Lagos has stepped into the affairs of AMNI International Petroleum Development Company Limited, placing the oil firm under court-supervised administration following a fresh debt claim by one of its creditors. In a ruling delivered on Monday, Nicholas Aneke granted the request of CCM Vessel…
The National Company Law Appellate Tribunal(NCLAT) allowed the insolvency proceedings initiated by UCO Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016, as the NCLT was in error in rejecting the petitions on the ground of being time-barred without taking into account the balance sheet acknowledgments and COVID19 limitation relief. The UCO Bank…
NCLAT Allows Withdrawal of Insolvency Case Against Realty Firm Mahagun Realty Plus Magazine Read the original article here
The National Company Law Appellate Tribunal (NCLAT) rejected the appeals on the ground that the liquidator of the corporate debtor had the absolute authority to evict the subsidiaries occupying the properties of the corporate debtor and claim arrears of rent and license fees under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The corporate…
REVEALED: Latest business liquidations in Yarra Herald Sun Read the original article here