Shares of Coffee Day Enterprises Ltd (CDEL) surged to their 20 percent upper circuit limit of ₹25.65 in intra-day trading on Monday, March 3, after the National Company Law Appellate Tribunal (NCLAT) dismissed insolvency proceedings against the company. The case, filed by IDBI Trusteeship Services over an alleged ₹228 crore default, was set aside by…
The Luxembourg plant is preparing for a new owner, awaiting the resumption of production The bankrupt Liberty Steel Dudelange steel plant in Luxembourg has found a potential buyer, Kallanish reports, citing informed sources. The asset manager has informed the trade unions that an agreement has been reached with the new owner, which, according to preliminary…
The latest study conducted by Coface Romania revealed that 7,274 new insolvency proceedings were opened in 2024, compared to 6,650 in 2023, marking a 9.38% increase. Among companies with a turnover above EUR 5 million, there was a 75% rise in insolvencies last year. Denied payment instruments have increased both in value (+30%) and number…
Lottie London and its partner company Brand Agency collapsed into administration in January, with the future of the Charlotte Knight-founded make-up brand remaining unclear. The company filed for insolvency on 9 January, with Geoffrey Paul Rowley and Anthony John Wright from FRP Advisory being appointed as administrators on 15 January. Lottie…
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Black Panel Press publisher Andrew Benteau says the future of his company is at stake after Diamond Comic Distributors declared bankruptcy last month. (Elizabeth Whitten/CBC) Despite a record year for one St. John’s comic book publisher, its owner says the company’s future is in peril after the world’s largest English comic book distributor declared bankruptcy. Andrew Benteau specializes in European…
Byju’s founder and CEO, Byju Raveendran, reiterated his claims of collusion in the company’s insolvency proceedings, stating that new evidence submitted to court proves that EY India acted on behalf of GLAS Trust in what he calls a “massive fraud.” In an exclusive interview with TOI, Raveendran said the whistleblower documents circulating online contain the…
Its highly leveraged strategy could lead to severe financial stress if Bitcoin prices experience a prolonged, deep decline. TLDR: Let me first say the conclusion: It is theoretically possible, but the actual probability is very small The leverage ratio is not high, the debt term is long, and there is no obvious debt repayment pressure…
Byju’s founder, Byju Raveendran, alleged misconduct in the firm’s insolvency proceedings through a public appeal on LinkedIn. He later deleted the post a few hours after publishing it. Raveendran expressed his determination to prevent the company froiuof anything.”He further alleged the existence of “conclusive evidence of criminal collusion” between EY India, GLAS Trust, and the…
The National Company Law Tribunal (NCLT) has declared Ansal API bankrupt, putting thousands of homebuyers and investors in a crisis. The tribunal has also appointed an Interim Resolution Professional (IRP) to handle the company’s projects, raising concerns about whether investors will ever get their money back. What Went Wrong? Ansal API had undertaken major real…