NCLT Initiates Insolvency against Labhanshi Multitrade Over Rs. 1.17 Crore Default [Read Order]

The Special Bench of the National Company Law Tribunal (NCLT) at Indore has admitted a Section 7 application under Insolvency and Bankruptcy Code (IBC), 2016 and initiated the Corporate Insolvency Resolution Process (CIRP) against Labhanshi Multitrade Private Limited, holding that the existence of a financial debt and default was undisputed. The application was filed by…

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German womenswear brand Les Lunes is insolvent

Sustainably-focused womenswear brand Les Lunes is insolvent. Les Lunes GmbH has filed for self-administration proceedings at the relevant district court in Charlottenburg, the Berlin-based company announced on Friday. The application has been accepted and the preliminary self-administration confirmed. Lawyer Torsten Martini from the law firm Görg has been appointed as the provisional trustee. The reason…