Mosaic Brands: Australian fashion giant allegedly couldn’t pay its debts for years, but continued trading

Administrators for Australia’s largest specialty fashion group, Mosaic Brands, have issued a preliminary finding that the company may have been operating while insolvent, four years before the company’s collapse. Mosaic Brands entered administration last year and owes a total of between $361 million to $392 million to creditors in Australia and overseas. Insolvency is when…

Financial Crisis Deepens, ET Auto

The tribunal also asked the IRP to file periodical progress reports on the CIRP. The National Company Law Tribunal (NCLT) has ordered the commencement of insolvency proceedings against Gensol Engineering Ltd and its group company Gensol EV Lease, following petitions filed by the Indian Renewable Energy Development Agency (IREDA), PTI reports. In its order issued…

Financial Crisis Deepens, ET Auto

The tribunal also asked the IRP to file periodical progress reports on the CIRP. The National Company Law Tribunal (NCLT) has ordered the commencement of insolvency proceedings against Gensol Engineering Ltd and its group company Gensol EV Lease, following petitions filed by the Indian Renewable Energy Development Agency (IREDA), PTI reports. In its order issued…

Gensol group faces insolvency over Ireda dues

BENGALURU: The National Company Law Tribunal (NCLT), Ahmedabad has admitted two separate insolvency petitions filed by Indian Renewable Energy Development Agency (Ireda) against Gensol Engineering (GEL) and its subsidiary Gensol EV Lease (GEVL), initiating corporate insolvency resolution processes (CIRP) against both companies.In the case of Gensol Engineering, the tribunal admitted Ireda’s petition for defaulted dues…