UK residential battery supplier GivEnergy enters administration proceedings – ESS News
UK residential battery supplier GivEnergy enters administration proceedings ESS News Read the original article here
Supreme Court Limits Co-op Bids in Insolvency Cases
The Supreme Court has issued a significant clarification on the eligibility of co-operative societies wishing to act as resolution applicants under the Insolvency and Bankruptcy Code (IBC). The ruling, delivered on Thursday, confirms that these societies can bid, but only if they strictly follow the investment rules set out in the Multi-State Co-operative Societies Act…
Can a co-operative society act as resolution applicant under IBC? Supreme Court answers
A Bench of Justices JB Pardiwala and KV Viswanathan clarified that while co-operative societies are not barred from participating in the corporate insolvency resolution process (CIRP) as resolution applicants, their eligibility is conditional upon compliance with statutory restrictions governing investment of funds. “Section 64(d) of the 2002 Act permits an MSCS to invest or deposit…
IO Biotech founder after bankruptcy: ”Our work is far from wasted”
Since its founding in 2015 and up until its recent bankruptcy, investors have poured well over DKK 2bn (USD 313m) into the biotech company IO Biotech, but even though the company has now collapsed, that money has not been wasted, according to founder and CEO Mai-Britt Zocca. Read the original article here
CJEU confirms position on cross-border insolvency clawback claims
Dr Attila Bangha-Szabo, insolvency law expert at Pinsent Masons, was commenting following a recent decision by the CJEU that has drawn a line under a long-standing debate over cross-border clawback rights in Germany. The dispute centres around an Austrian engineering company that was a shareholder in a German limited liability company (GmbH) based in…
Bankrupt robot manufacturer Agrointelli sold in parts
The intellectual property and software of Agrointelli, which was declared bankrupt in February, have been sold. The trustee has not disclosed the identity of the buyer. Photo: Mark Pasveer The bankrupt robot manufacturer Agrointelli, best known for the Robotti field robot, has not been sold as a whole but in parts. Danish media report this.…
SITI Networks reports Rs 435.69 million loss amid insolvency process – Indian Television Dot Com
MUMBAI: Big waves, small ripples at least for now. When Prasar Bharati launched its OTT platform WAVES at the 55th International Film Festival of India in November 2024, it pitched a bold vision: a homegrown rival to global and domestic streaming giants, blending video, audio, gaming and commerce into a single digital ecosystem. Five months…
Just in time for Paris-Roubaix, UCI bans Gravaa on-the-fly tyre pressure adjustment system… three months after company declared bankrupt – Cycling News | Bike Reviews
Just in time for Paris-Roubaix, UCI bans Gravaa on-the-fly tyre pressure adjustment system… three months after company declared bankrupt – Cycling News | Bike Reviews | road.cc Skip to content Read the original article here
India’s Pre-Pack Insolvency: Speed vs. Risk in Debt Resolution
The Seamless Link This streamlined approach, intended to bolster efficiency in corporate debt resolution, represents a significant evolution from the protracted insolvency proceedings that previously plagued India’s economic landscape. By prioritizing speed and early intervention, the pre-pack mechanism seeks to address immediate financial distress before it escalates into full-blown liquidation, thereby preserving business continuity and…
Top Spanish hyperloop developer Zeleros files for bankruptcy
Zeleros, one of Europe’s most prominent hyperloop developers, has entered voluntary insolvency proceedings, becoming the latest company in the once-hyped sector to fall by the wayside. However, Spanish technology group Amper is now moving to acquire its core assets, with plans to redeploy the technology in defence, security and energy-storage applications. Late in March, a…