Bankruptcy Archives - Page 25 of 1891

Force Majeure doesn’t absolve Corporate Debtor from contractual obligations; NCLT directs initiation of CIRP against Corporate Debtor

BankruptcyBy Editor March 20, 2025

National Company Law Tribunal, Chennai: In an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, a Division Bench of Sanjiv Jain (Judicial Member) and Venkataraman Subramaniam (Technical Member), admitted the Section 7 IBC application and initiated the…

Greater Noida West: 600 homebuyers set to receive possession under NCLT’s reverse insolvency process

BankruptcyBy Editor March 20, 2025

As many as 600 homebuyers of RG Luxury Homes, who have been waiting to get possession of their housing units in Greater Noida West since the last six years, will soon receive delivery of their apartments as the Greater Noida Authority has handed over the occupancy certificate (OC) for three more towers to the builder,…

High Court dismisses tycoon Peter Kwee’s claim over properties in bankrupt daughter’s name

BankruptcyBy Editor March 20, 2025

SINGAPORE – The High Court on March 20 dismissed a claim by motoring tycoon Peter Kwee that he is the true owner of five properties that are registered in the sole name of his daughter Karen. In a written judgment, Justice Philip Jeyaretnam accepted that Mr Kwee funded the purchase of the properties and that…

13 Firefighters Declared Bankrupt Taken Disciplinary Action – BERNAMA

BankruptcyBy Editor March 20, 2025

13 Firefighters Declared Bankrupt Taken Disciplinary Action BERNAMA Read the original article here

Hassan Nawaz hit with 5.2m pounds tax penalty despite recent bankruptcy

BankruptcyBy Editor March 20, 2025

Pakistan Hassan Nawaz hit with 5.2m pounds tax penalty despite recent bankruptcy … Read the original article here

Kuti Miah has denied owing £15,000 in latest court papers

BankruptcyBy Editor March 20, 2025

Kuti Miah, the charismatic entrepreneur who ran Kuti’s Brasserie in the city for decades, is being pursued over an unpaid bill for refurbishing the Grade II listed restaurant building at The Royal Pier, which the business moved into in 2018. A recent county court case brought by painter and decorator Wayne Holbrook, of Design Dec, will…

UK includes Hasan Nawaz in ‘deliberate tax defaulters’ list – Pakistan

BankruptcyBy Editor March 20, 2025

LONDON: Almost a year after he was declared bankrupt by a UK court, Hasan Nawaz, the son of former prime minister Nawaz Sharif, was included on a list of “deliberate tax defaulters” by the UK government. The list, which was published on Tuesday, features the names of scores of individuals and companies that the HM…

BCCI And Byju’s Co-Founder Challenge NCLT’s Insolvency Decision

BankruptcyBy Editor March 20, 2025

The Board of Control for Cricket in India (BCCI) and Riju Ravindran, the co-founder of Byju’s, are embroiled in a legal battle over a National Company Law Tribunal (NCLT) order impacting the insolvency resolution of the popular edtech company. This dispute centers on a Rs 158-crore settlement deal that was reached between BCCI and Think…

After $70 mn in bank, e-commerce aggregator 10Club close to bankruptcy

BankruptcyBy Editor March 20, 2025

The Bengaluru-based startup’s lack of success in orientating its business model towards stronger target markets and failure to pivot to an alternate strategy in time led to the current state of affairs, four people with direct knowledge of the matter told Mint, seeking anonymity. Over the past six months, payments to multiple vendors have been…

KTM Says Everything Will Be Fine, But Should We Believe It?

BankruptcyBy Editor March 20, 2025

“KTM is saved!”, many outlets proclaimed a few short weeks ago when the Austrian insolvency courts stated that the company, its debtors, and its shareholders had come to an agreement on how to move forward after basically declaring bankruptcy last year. They were saved! Production is set to resume. And the company’s beleaguered CEO, the…

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