Jaiprakash Associates Limited’s (JAL) lenders Tuesday informed the National Company Law Appellate Tribunal (NCLAT) that the Supreme Court and Reserve Bank had directed the initiation of the insolvency resolution process against the company. Further, the lenders argued that JAL had a debt and committed default, which warrants its resolution under the Insolvency and Bankruptcy Code,…
The former glamour model, who was declared bankrupt in 2019, has still not paid off her bankruptcies. In February, a judge at a specialist bankruptcy court ordered that the 46-year-old must pay 40 per cent of her monthly income from the adult entertainment website OnlyFans until February 2027. READ MORE: Katie Price breaks silence after bankruptcy arrest…
How does Katie Price make money amid her bankruptcy? Once estimated to be worth £40m, the former glamour model has been declared bankrupt for the second time earlier this year in March over an unpaid tax bill of £761,994.05. At the height of her fame, the mother-of-five was the queen of reality TV of sorts…
Company insolvencies jump; Royal Mail takeover would face security review; energy cap to fall in July – as it happened The Guardian Read the original article here
Company insolvencies up due to high interest rates, weak demand and rising costs The Mirror Read the original article here
The lenders of SKS Power Generation have received an upfront payment of Rs 1,950 crore from Sarda Energy and Mining, the successful bidder for the debt-ridden thermal power producer, the insolvency appellate tribunal NCLAT was informed on Tuesday. Moreover, allegations of “mala fide” intention or aligning towards any party while approving the resolution plan from…
Benny Landa’s dream of synthetic diamonds success is nearing its end, about eight years after it began. Lusix, which produces rough laboratory diamonds, has requested a stay of proceedings under Section 4 of the new Insolvency Law—a move designed to provide temporary protection from creditors while attempting to consolidate a debt arrangement and set the…
The number of companies that have gone insolvent over the past year has exceeded the number that failed during the global financial crisis in 2008. In the year to the end of July, 25,551 companies fell into insolvency, a figure 1.4 per cent higher than the 25,186 insolvencies recorded over the same period in 2008-09.…
The number of companies that became insolvent in July was 16% higher than during the same period last year, according to official data. In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023. The figures included 320 compulsory liquidations – when a company is forced to…
Company insolvencies up 16% on July last year as cost hikes continue to bite MSN Read the original article here