Byju’s insolvency: Suspended directors challenge NCLT ruling reinstating lenders, cite prejudice

Suspended directors of the bankrupt edtech firm Byju’s have approached the National Company Law Appellate Tribunal (NCLAT), challenging a Bengaluru insolvency court’s decision to reinstate its lenders as financial creditors while failing to rule on its ₹158 crore settlement with the Board of Control for Cricket in India (BCCI). The petition, filed by suspended director…

Why the company account is not your personal piggy bank

As financial year-end looms, pressuring business owners to ensure their financial records are up-to-date and compliant, PJ Veldhuizen of Gillan & Veldhuizen Inc warns them to avoid this seemingly harmless hazard. Image: supplied A common pitfall for many business owners is running personal expenses through the company and incorrectly claiming deductions. This practice not only…

Germany’s Landwärme declares insolvency | Latest Market News

German biomethane supplier Landwärme has today declared insolvency under the country’s self-administration procedure and has initiated restructuring measures “to overcome the consequences of the ongoing decline in prices of German greenhouse gas (GHG) emission reduction quota”. Self-administration proceedings are a proven legal framework in German restructuring law analogous to the US’ Chapter 11 bankruptcy proceedings.…