Michelle Lim, granddaughter of disgraced Singapore oil tycoon Lim Oon Kuin (O.K. Lim), has failed to convince the court that three insurance policies under her name, valued at SGD521,000 (US$409,000), should be excluded from her father’s bankruptcy estate. High Court Judicial Commissioner Mohamed Faizal has rejected Michelle Lim’s application for a declaration that the three…
Borosil Renewables has moved to exit its German solar glass business, with its step-down subsidiary GMB Glasmanufaktur Brandenburg GmbH filing for insolvency, as the company shifts focus to the fast-growing Indian solar glass market.In a regulatory filing, Borosil said GMB has applied for the commencement of insolvency proceedings before the Insolvency Court in Cottbus, Germany,…
Following a court application filed by Skillpro Malta Ltd (the ‘company’), on February 26, 2025, the Civil Court Commercial Section (‘court’) acceded to the company’s request to enter the preventative restructuring procedure as set out in the Pre-Insolvency Act (Chapter 631 of the Laws of Malta, and hereinafter referred to as the ‘Act’). This not…
It was an emphatic and often-memed commercial. Queen of the daytime talk show, Oprah Winfrey can’t hide her excitement. “I love bread!” she says, hands gesticulating in the air. “I lost 26 pounds and I have eaten bread every single day.“ She was, of course, advertising weight loss program Weight Watchers, now known as WW.…
Following a court application filed by Skillpro Malta Ltd (the ‘company’), on February 26, 2025, the Civil Court Commercial Section (‘court’) acceded to the company’s request to enter the preventative restructuring procedure as set out in the Pre-Insolvency Act (Chapter 631 of the Laws of Malta, and hereinafter referred to as the ‘Act’). This not…
The National Company Law Appellate Tribunal (NCLAT) has said that any attachment of property alleged to be “proceeds of crime” by the Directorate of Enforcement (ED) cannot be undone under the insolvency law. “The Insolvency and Bankruptcy Code (IBC) cannot override the Prevention of Money Laundering Act (PMLA)”, said the appellate tribunal’s 36-page-order in response…
The National Company Law Tribunal (NCLT), Mumbai Bench, has ordered the initiation of the Corporate Insolvency Resolution Process (CIRP) against Reliance Media Works Limited. The petition was filed by Netizen Engineering Private Limited (formerly Reliance Infocomm Engineering Private Limited) on November 20, 2024, under Section 7 of the Insolvency and Bankruptcy Code, 2016, citing a…
Quashing of insolvency order sought: NCLAT likely to decide on Ansal API homebuyers’ plea today | Hindustan Times Hindustan Times Read the original article here
New Delhi, Jul 6 (PTI) Insolvency & Bankruptcy Code cannot override the Prevention of Money Laundering Act (PMLA), said appellate tribunal NCLAT, adding assets of an debt-ridden firm once attached by the Directorate of Enforcement (ED) and confirmed by competent authority cannot be released for its resolution. Under section 14 of IBC, a moratorium is…
Warehouse Robotics Firm Attabotics Files for Bankruptcy Protection Calgary.Tech Read the original article here