Undisclosed Related Party MoU Cannot Justify Continued Occupation of Corporate Debtor’s Hotel Property During CIRP: NCLAT [Read Order]

Bankruptcy

The National Company Law Appellate Tribunal (NCLAT), New Delhi, has upheld the eviction of the promoter family from a five-star hotel owned by the corporate debtor and held that an undisclosed related-party Memorandum of Understanding (MoU) and an arbitral award could not justify continued occupation of the company’s property during the Corporate Insolvency Resolution Process…

Ziegler Belgium collapses after 118 years; rivals move in

Bankruptcy

The bankruptcy was filed at the Brussels Commercial Court on Monday, 1 June, according to Belgian news agency Belga. The collapse affects several Ziegler entities in Belgium, including Ziegler SA, Intertrans, Dornach and Universal Express. Belga reported that around 400 employees are affected, although Belgian and aviation trade press reports have also referred to a…

Agency behind Iamsterdam sign declared bankrupt

Bankruptcy

June 2, 2026 Photo: Depositphotos.com See more DutchNews articles in your Google search results See more DutchNews articles in your Google search results Add as a favourite source on Google Add DutchNews as a favourite source on Google The Amsterdam advertising agency that created the Iamsterdam letters and the “worst hotel in the world” campaign…