‘Delays arising from statutory compliance not force majeure’; NCLT admits insolvency proceeding against Raheja Developers

National Company Law Tribunal, New Delhi: In a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 alleging delays in possession in “Raheja Shilas Low Rise” despite payments by a group of 43 homebuyers, a Division…

Curaçao-licensed BC Game rejects bankruptcy ruling

Curaçao-licensed crypto gambling operator BC Game has rejected a November court ruling that declared it bankrupt and has assured its sponsorship partners Leicester City Football Club and esports teams Cloud9 and GuardiaN that it “has no issues with liquidity”. The case against BC Game, heard by Curaçao’s Court of First Instance, relates to bankruptcy petitions filed…