NCLAT ruling paves way for Hindustan National Glass insolvency resolution | Mint – Mint

Mumbai: The National Company Law Appellate Tribunal (NCLAT) on Wednesday upheld an insolvency tribunal order that had rejected Independent Sugar Corp. Ltds (INSCO) plea against a rival bidder in the resolution process of India’s oldest glass manufacturer Hindustan National Glass. The Kolkata bench of the NCLT will now consider bidder AGI Greenpacs resolution plan for…

UK to appoint commissioners to run 'bankrupt' Birmingham – Yahoo Eurosport UK

LONDON (Reuters) -British minister Michael Gove said on Tuesday the government had been forced to intervene in the day-to-day running of England’s second-largest city, Birmingham, which earlier this month effectively declared bankruptcy. Gove said he would appoint commissioners to take over the running of Birmingham City Council – the largest local authority in Europe –…

Wake Concepts, the third SA builder to collapse in months, leaves about 100 employees without jobs – ABC News

About 100 staff have been left without jobs with the collapse of an Adelaide construction company  the third South Australian builder to fall into liquidation in a matter of months.  Key points: Commercial construction firm Wake Concepts has been placed into liquidation About 100 employees have been given notice of termination It’s the third South Australian…

Parliament signals a comprehensive review of corporate insolvency … – Clayton Utz

The Parliamentary Joint Committee on Corporations and Financial Services released its Report into Corporate Insolvency in Australia, the first major review of Australia’s corporate insolvency regime since the Harmer Report in 1988. The Report made 28 recommendations in total which can be divided into recommendations that support a comprehensive and independent review encompassing both corporate…

UK to appoint commissioners to run 'bankrupt' Birmingham – Reuters

LONDON, Sept 19 (Reuters) – British minister Michael Gove said on Tuesday the government had been forced to intervene in the day-to-day running of England’s second-largest city, Birmingham, which earlier this month effectively declared bankruptcy. Gove said he would appoint commissioners to take over the running of Birmingham City Council – the largest local authority…