Daniel Grollo declared bankrupt – realestatesource

Daniel Grollo. Former Grocon chief executive Daniel Grollo has been declared bankrupt, marking the latest chapter in the fallout from the collapse of the construction empire once responsible for some of Australia’s most prominent towers. The third-generation builder and property executive owes more than $10 million to creditors. The bankruptcy comes almost six years after…

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Pending Avoidance Proceedings Cannot Override CoC’s Commercial Wisdom to Liquidate Corporate Debtor: NCLT [Read Order]

The Mumbai Bench of the National Company Law Tribunal (NCLT) has held that the pendency of avoidance transaction proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot obstruct the liquidation of a corporate debtor once the Committee of Creditors (CoC) has in its commercial wisdom resolved to liquidate the company under Section 33(2) of…