Court rules TAP SGPS insolvent

In just under a month after a request from TAP SA to an insolvency court to declare Siavilo (formerly TAP SGPS) bankrupt, a judge has accepted the request and declared the shell company insolvent. The insolvency request was delivered at the Lisbon Commercial Court on July 10 with TAP asking for the case to be…

Ex-Bhushan Power promoters to Supreme Court

In its May 2 judgment, a Bench of Justices Bela M Trivedi and Satish Chandra Sharma had held that the CoC erred in approving JSW Steel’s resolution plan for BPSL. The Court declared the plan illegal and ordered BPSL’s liquidation using its inherent powers under Article 142 of the Constitution of India. JSW Steel, which…