Dan Air Insolvency: Romanian Airline Keeps Flying – MiGFlug
Dan Air Insolvency: Romanian Airline Keeps Flying MiGFlug Read the original article here
Sonnen files for insolvency in Germany two months after Shell offloading – Energy-Storage.News
Sonnen files for insolvency in Germany two months after Shell offloading Energy-Storage.News Read the original article here
Income Tax Reassessment Barred After Insolvency Plan Approval Despite Fresh ED Inputs: Bombay High Court
The Bombay High Court has quashed fresh income tax reassessment proceedings holding that the department could not proceed against the company for a period preceding approval of its insolvency resolution plan, even on the basis of new information received from the Enforcement Directorate. The Bench of Justice B. P. Colabawalla and Justice Farhan P. Dubash…
REVEALED: Liquidator appointments for businesses in the Greater Dandenong council area for October 23 – Herald Sun
REVEALED: Liquidator appointments for businesses in the Greater Dandenong council area for October 23 Herald Sun Read the original article here
Supreme Court Rules Debt Default, Not Company Profits, Decides IBC Admission · Business Upturn
The Supreme Court has held that a company’s profitability cannot shield it from insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) once a financial debt and default exceeding the statutory threshold are established, with the apex court upholding the National Company Law Tribunal’s orders admitting insolvency applications against GSTAAD Hotels and Neo Capricorn Plaza.…
Supreme Court Rules Debt Default, Not Company Profits, Decides IBC Admission · Business Upturn
The Supreme Court has held that a company’s profitability cannot shield it from insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) once a financial debt and default exceeding the statutory threshold are established, with the apex court upholding the National Company Law Tribunal’s orders admitting insolvency applications against GSTAAD Hotels and Neo Capricorn Plaza.…
University of Nairobi Sinks in Debt Burden, Declared Technically Insolvent Over
The Office of the Auditor-General flagged the University of Nairobi as technically insolvent, with a negative working capital of KSh 8.62 billion The university’s accumulated deficit reached KSh 8.8 billion, while unremitted statutory deductions alone amounted to KSh 10.57 billion Vice-Chancellor Ayub Gitau appeared before the National Assembly Education Committee to defend the institution’s financial…
Germany’s sonnen GmbH Faces Insolvency As US Business Expands
Less than two months after the investment firm TIVEN’s family office took ownership, sonnen GmbH has reportedly filed for insolvency. The decision will affect nearly 400 employees at the German residential energy storage system (ESS) manufacturer and supplier. Meanwhile, sonnen USA has announced plans to expand. German business daily said the company has confirmed the…
University of Nairobi Declared Technically Insolvent Over Sh20 Billion Debt · Kenya Insights
The University of Nairobi (UoN), one of Kenya’s oldest and most prestigious institutions of higher learning, has been declared technically insolvent by the Office of the Auditor-General, exposing a deepening financial crisis that threatens its ability to meet mounting obligations to staff, suppliers and statutory agencies. The damning financial position emerged as university officials appeared…
Auditor-General declares the University of Nairobi technically insolvent amid Ksh20B debt – People Daily
Auditor-General declares the University of Nairobi technically insolvent amid Ksh20B debt People Daily Read the original article here