The Madras High Court recently ruled that provident fund dues are excluded from the liquidation estate of a company under Section 36(4)(a)(iii) of the Insolvency and Bankruptcy Code, 2016, and thus cannot be denied to claimants on grounds of delay. The instant case arose from the liquidation proceedings of K.N. Interior Designs and Engineering Pvt.…
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The slippery slope of financial distress Polity.org.za Read the original article here
Former England international John Barnes has been declared bankrupt following the accumulation of £1.5million in debts by his media company. The 61-year-old former Liverpool star’s financial troubles stem from John Barnes Media Limited, which has since been liquidated. HM Revenue and Customs filed the bankruptcy petition in early August after the company’s debts exceeded £1.5million.…
REVEALED: Latest business liquidations in Ipswich The Courier Mail Read the original article here
Key points In Re CEFC Shanghai International Group Limited (HCMP 2295/2019) (“Decision“), the Hong Kong court has for the first time granted recognition and assistance to bankruptcy administrators appointed for a company in insolvency proceedings in mainland China (“Mainland”). The Decision will have a significant impact on insolvency cases spanning the Mainland and Hong Kong…
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Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. An update from JBF Industries Limited ( (IN:JBFIND) ) is now available. JBF Industries Limited is undergoing a Corporate Insolvency Resolution Process (CIRP), and a Resolution Plan…
New Delhi, Sep 29 (PTI) Appellate Tribunal NCLAT has set aside an appeal by Future Consumer Ltd (FCL) seeking to initiate insolvency against Aussee Oats Ltd. A two-member NCLAT bench has upheld the orders of the Mumbai bench of the National Company Law Tribunal (NCLT), which had rejected the claims of FCL, part of the…