The National Company Law Appellate Tribunal (NCLAT) in Delhi has held that a proposed scheme of compromise under the Companies Act and ongoing one-time settlement (OTS) negotiations cannot prevent the admission of insolvency proceedings once financial debt and default are established. A bench of Judicial Member Justice N. Seshasayee and Technical Members Arun Baroka and…
When a crypto platform goes dark and locks users out of their own accounts, the legal machinery rarely moves fast enough to matter. In the case of Knaken Cryptohandel BV, a Rotterdam-based cryptocurrency exchange, it moved — and what it found was a grim picture. A Dutch court has declared the company and its affiliated…
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MiCA Rules Trigger Dutch Crypto Exchange Collapse BeInCrypto Read the original article here
A Dutch court has declared the Knaken crypto exchange bankrupt after prosecutors claimed it failed to account for over $8 million in customer funds. Knaken was declared bankrupt on July 16th, having previously sponsored Ajax and Feyenoord. The Rotterdam court declared both Knaken Cryptohandel B.V. and its client-fund foundation bankrupt. The prosecutors determined that over…
Knaken Declared Bankrupt in Rotterdam Amid €7M Theft Probe CryptoDnes.bg Read the original article here
NCLAT upholds insolvency proceedings against KKSPU India New Delhi, The National Company Law Appellate Tribunal (NCLAT) has given a go-ahead to the ongoing insolvency proceedings against KKSPUN India, a manufacturer and supplier of precast concrete solutions and telecom products. The appellate tribunal NCLAT upheld the earlier order of the Delhi bench of NCLT, which had…
Expert report claims First Brands bankruptcy could yield $25 billion in recoveries Trucks, Parts, Service Read the original article here
Scarborough Group International has denied rumours of financial difficulties and confirmed that plans to transform the former Brunswick shopping centre into a multiplex cinema are progressing as planned. The company behind a major Scarborough town centre redevelopment project has said its scheme is progressing. Plans to turn Scarborough’s former Brunswick centre into a multiplex cinema…
Luxury goods insolvency case clarifies law on directors’ duties The Global Legal Post Read the original article here