Daily 5 report for Oct. 16: Multibillion-dollar scandal emerges at Trico, Fram parent company Automotive News Read the original article here
The Orissa High Court has held that Directors can’t escape liability for cheque dishonour under Section 138 of the Negotiable Instruments Act, 1881, merely because the company was declared insolvent and a Resolution Professional was appointed under the Insolvency and Bankruptcy Code, 2016. The Court was considering an Application seeking issuance of summons to the…
On Tuesday, the club was notified by the court and must settle the debt with the Swiss fund AIS Investment Fund within five days to avoid ruin. Now then, what does it mean to go bankrupt? The club emphasizes that for this to be declared, there must be a cessation of payments, that is, a…
On Tuesday, the club was notified by the courts and must settle its debt with the Swiss fund AIS Investment Fund within five days to avoid ruin. Now then, what does it mean to go bankrupt? The club emphasizes that for this to be declared, there must be a cessation of payments, that is, a…
U.S. seeks independent bankruptcy probe of Trico, Fram parent Automotive News Read the original article here
Since the beginning of August, the Ambitious Air Mobility Group (AAMG), based in the Netherlands and with connections to Spain, Dubai and Japan, has been publicly promoting its desire to take over and revive the Bavarian company Lilium. However, this attempt has now apparently failed: with the sale of Lilium’s intellectual property in the form…
The Orissa High Court has recently held that directors of a company cannot be absolved of their liability for the offence of cheque dishonour under Section 138 of the Negotiable Instruments Act, 1881 (‘the NI Act’) merely because the company was declared insolvent and a Resolution Professional was appointed under the Insolvency and Bankruptcy Code,…
Gelonghui, October 16th ─ Xinsai Co., Ltd. (600540.SH) announced that recently, Xinsai Trade received the ‘Civil Ruling’ [(2025) Xin 0106 Po 1 No. 1] from the Toutunhe District People’s Court, with the main content as follows: This court holds that the assets of Xinjiang Xinsai Trade Co., Ltd. are insufficient to repay its due debts,…
Phoebus, Christos Clerides & Associates LLC (Clerides Legal) More Phoebus, Christos Clerides & Associates LLC is a leading Cyprus-based law firm founded in 1950 by Phoebus Clerides, former Minister of Justice and Member of Parliament. His son, Dr. Christos Clerides—graduate of King’s College London and former MP,…
New York Child Victims Act blamed for ‘insolvency’ of Bermuda’s Northeast Insurance Company OffshoreAlert Read the original article here