New Delhi: The National Company Law Tribunal (NCLT) has ordered initiating an insolvency proceeding against Supertech Realtors, which is developing a residential apartment, office, retail and luxury hotel at its Supernova project. A two-member Delhi bench of NCLT admitted the insolvency plea filed by the Bank of Maharashtra over a default of Rs 168.04 crore…
On May 31, Hirschmann Multimedia Holding B.V. filed for provisional suspension of payments, which has now been converted into bankruptcy. According to CEO Dick Kroon, the bankruptcy of Hirschmann Multimedia Holding B.V. and the adjacent Hirschmann Multimedia B.V. is due to the failure of a desired settlement payment arrangement with the tax authorities. While this…
By David Jones Published: 02:28 AEST, 15 June 2024 | Updated: 02:51 AEST, 15 June 2024 Dismayed by the news that one of Britains greatest ever Olympians had been declared bankrupt, I had been trying all week to contact Sir Bradley Wiggins and hear his side… Read the full article at: https://www.dailymail.co.uk/news/article-13530791/Bradley-Wiggins-homeless-cycling-gold-medals-Olympian.html
Vertical farming company Infarm has been declared bankrupt in the Netherlands, according to official documents. The news comes after the company closed operations across its key markets in the UK, France, Germany, the Netherlands and Denmark over the last year, completely exiting the European market. At the end of last year, Infarm laid off more…
The National Company Law Tribunal (NCLT) in Mumbai has admitted the Prudent ARCs application to initiate personal insolvency resolution proceedings against Mahesh R Shetty, promoter of the listed coaching firm MT Educare, formerly known as Mahesh Tutorials, for a Rs 16.64 crore default by the company. Shetty was a personal guarantor against these loans.The tribunal…
The National Company Law Tribunal (NCLT) has granted an extension of 60 days to the grounded air carrier Go First for completing the insolvencyprocess. This is the fourth extension for Go First to complete the Corporate Insolvency Resolution Process (CIRP), which is struggling to find a buyer.Earlier, the insolvency tribunal had granted an extension of…
2 min read Last Updated : Jun 12 2024 | 4:42 PM IST The National Company Law Tribunal (NCLT) has granted a 60-day extension to the Corporate Insolvency Resolution Process (CIRP) of the grounded airline Go First, emphasising that this would be the final extension, according to a report by MoneyControl on Wednesday. This marks…
NEW DELHI:The National Company Law Tribunal (NCLT) on Wednesday granted a final 60-day extension to the bankrupt Go First airline to complete its corporate insolvency resolution process (CIRP). This extension, which lasts until August 3, comes amid challenges and legal implications stemming from a Delhi high court ruling that deregistered all leased aircraft held by…
A recent court case has demonstrated to trustees the withdrawal and transfer of superannuation benefits prior to declaring bankruptcy will not protect those assets from creditors claims even if they remain within the retirement savings system, according to an SMSF technical specialist. Heffron head of education and content Lyn Formica noted this outcome had occurred…
A growing number of councils in England have declared bankruptcy since 2018, most recently Nottingham, Woking, Thurrock and Birmingham. With the situation in the devolved nations of the UK looking similarly precarious, the question of quite what has happened to local government finances in the UK is an urgent one. A council cannot, technically, go…