Banks have taken the initiative to implement personal insolvency against defaulting promoters buoyed by the Supreme Courts endorsement of the law in May. The latest data released by the Insolvency and Bankruptcy Board of India (IBBI) show that 56 new cases were filed in the first quarter ended June, almost half of the total 128…
NEW DELHI: The pandemic and a shortage of members in the National Company Law Tribunal (NCLT) has slowed insolvency resolution by over 45% with cases taking nearly 593 days during the June quarter, latest data showed.As of March-end, it took 408 days from the insolvency commencement date to the approval of the resolution. A thrust…
Jane Thornton (54) and Norman Thornton (65), from Telford, were both directors of the construction company Norjan (Properties) Limited, which went into liquidation in July 2020 with liabilities over 411,000. The Liquidator discovered that Norjan had informed its major client to direct payments into a new bank account from January 2020. This account belonged to…
Jet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator due to the insolvency proceedings against the company in the Netherlands, has been sold, and the proceedings will mainly be utilised to close the process. Jet Airways is facing insolvency proceedings in the Netherlands…
BELGRADE (Serbia), September 6 (SeeNews) – Serbian company Konvar has acquired the assets of bankrupt pharmaceutical firm Jugoremedija from Czech Republic-based APS Capital Group’s subsidiary Project One for an undisclosed sum, data from the country’s commercial register showed on Monday. The ownership change at Jugoremedija was entered into the register on August 30, according to…
Mallinckrodt looks like it could join Purdue Pharma in reaching a settlement in its bankruptcy proceedings related to opioid litigation, after years of legal wrangling. The Ireland-headquartered pharma company filed for bankruptcy last year, after proposing a $1.6 billion payout to settle lawsuits claiming that its marketing of opioid painkillers helped to fuel an epidemic…
Jet Airways has announced that its wide-body Boeing 777 aircraft under the custody of the Dutch administrator has been sold. In a regulatory filing on Saturday, the airline mentioned that the insolvency process against it the Netherlands now stands concluded after the sale. The Boeing 777 aircraft was sold to IAGCAS 777, LLC for $9…
Corporate money has a powerful and malign influence on so many aspects of American life. But even by that low standard, events this past week in a New York bankruptcy court are shocking. The legal system has effectively allowed one of Americas richest families to buy its way out of accountability for what a White…
Jet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator due to the insolvency proceedings against the company in the Netherlands, has been sold, and the proceedings will mainly be utilised to close the process. Jet Airways is facing insolvency proceedings in the Netherlands…
Corporate money has a powerful and malign influence on so many aspects of American life. But even by that low standard, events this week in a New York bankruptcy court are shocking. The legal system has effectively allowed one of the countrys richest families to buy its way out of accountability for what a White…