Supreme Court upholds Piramal’s resolution plan for DHFL

In a landmark judgment, the Supreme Court of India has upheld the resolution plan submitted by Piramal Capital and Housing Finance Limited (formerly Dewan Housing Finance Corporation Limited, or DHFL) for the insolvency resolution of DHFL, setting aside the National Company Law Appellate Tribunal’s (NCLAT) order that had partially modified the plan. The apex court’s…

Bax Music files for bankruptcy

Dutch musical instrument retailer Bax Music has been declared bankrupt. According to De Telegraaf, Bax Music was officially declared bankrupt today by The Netherlands’ Zeeland-West-Brabant court. The ruling reportedly comes after years of financial strain, with the company owing money to multiple investors and creditors, including the Dutch Tax Authority. The company also suffered financially…

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To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a…

Threshold Limit For Initiating Insolvency Process Against Personal Guarantors Shall be same of Corporate Debtor

The IBC classifies individuals into three categories- personal guarantors to corporate debtors, partnership firms and proprietorship firms and other individuals to enable implementation of individual insolvency in a phased manner. The National Company Law Tribunal (NCLT) Chennai has held that the threshold limit for initiating the Personal Insolvency Resolution Process (PIRP) under Sections 94 or…

What Happens to Your Data When Companies Go Bankrupt?

Imagine learning that your genetic data, which you thought you had deleted months ago, has been transferred to a company you have never heard of. Despite your careful attempts to remove your DNA profile, family health history and raw genetic data from a genetic testing service, it resurfaces during bankruptcy proceedings as a valuable asset.…