French startup Ÿnsect shot into the spotlight when “Iron Man” star Robert Downey Jr. touted its merits on the “Late Show” during Super Bowl weekend 2021. Now, nearly four years later, the insect farming company has been placed into judicial liquidation — essentially bankruptcy — for insolvency. The company’s demise is hardly a surprise, as…
The insolvency appellate tribunal NCLAT has ruled that the Committee of Creditors (CoC) cannot modify an approved resolution plan to reallocate funds meant for dissenting financial creditors, reaffirming limits on the exercise of commercial wisdom after a plan has been cleared, PTI reported.Dismissing an appeal filed by Bank of Baroda in the insolvency proceedings of…
A tiny island was once hailed as one of the richest in the world before it went bankrupt. Nauru, an island nation in the Pacific Ocean is home to a mere 12,000 people, with a stunning coastline and beautiful beaches. But the couple of hundreds visitors who go there each year may not be aware…
The High Court ruling opens the way for creditor actions and insolvency proceedings, which may include being wound up [SINGAPORE] An application for a moratorium by a group of eight companies, including Autobahn Rent A Car, was dismissed by the High Court on Friday (Dec 26). The group had sought a six-month moratorium and a…
6 jean companies most likely to go bankrupt in 2026 MSN Read the original article here
The Supreme Court recently appointed a three-member committee headed by a former Chief Justice of the J&K High Court to oversee the insolvency process of real estate giant M/s Supertech Realtors.The bench of CJI Surya Kant and Justice Bagchi appointed the 3-member committee consisting of Justice MM Kumar, former Chief Justice of J&K High Court;…
The National Company Law Tribunal (NCLT) at Mumbai recently refused to grant any refund to the Jalan-Kalrock consortium in relation to the over Rs 370 crores infused by it during the insolvency proceedings of Jet Airways Ltd. In an order dated December 15, a coram of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat…
Access Denied You don’t have permission to access “http://www.financialexpress.com/business/news/govt-notifies-new-rules-to-curb-ineligible-promoters-re-entry-in-distressed-firms/4088410/” on this server. Reference #18.a052017.1766677962.1307412d https://errors.edgesuite.net/18.a052017.1766677962.1307412d Read the original article here
The National Company Law Appellate Tribunal (NCLAT) has set aside the initiation of Corporate Insolvency Resolution Process (CIRP) against OFB Tech Private Limited, citing the existence of a pre-existing dispute between the parties and records available with the National E-Governance Services Limited (NeSL). In its order, the appellate tribunal overturned the decision of the National…
In recent years, several noteworthy judgments have been rendered by the Indian Courts and Tribunals in matters pertaining to the Insolvency and Bankruptcy Code, 2016 (IBC). This article covers ten such significant decisions rendered in the year 2025. 1. Independent Sugar Corpn. Ltd. vs. Hindustan National Gas & Industries Ltd. (Resolution Professional) [(2025) 5 SCC…