New Delhi | Mumbai: Assessing officials continue to raise fresh tax demands on companies coming out of corporate insolvency, defying the ‘clean slate’ provision provided under the Insolvency and Bankruptcy Code (IBC) and multiple court rulings, throwing successful resolution applicants into legal limbo. Several such companies have faced tax demands over pre-acquisition liabilities, and have…
As of March 2025, the focus of the news release on bankruptcies will be on the changes compared to a year earlier and on the bankruptcy rate. This is the number of declared bankruptcies per 100 thousand businesses. The bankruptcy rate provides a clearer picture of the change in the number of bankruptcies in the…
In a landmark ruling delivered on 10 April 2025, the High Court of Justice adjudicated a notable case involving Dean McGuinness, the director and shareholder of Hitcham Homes Limited, and Goldentree Financial Services. This case, officially designated Dean McGuinness & Anor v Goldentree Financial Services Plc & Anor, stems from contentious financial dealings linked to…
Several businesses under the Sunterra banner, known in Alberta for its agriculture and high-end grocery operations, have taken steps toward creditor protection as three of its U.S. subsidiaries face legal and financial scrutiny. Late last month, Sunterra Quality Food Markets, Sunterra Food Corporation, Sunterra Farms, Trochu Meat Processors and Sunwold Farms all filed notices under…
But he will still appear on the WA Senate ballot paper, as electoral laws do not allow the commission to reject a fully completed nomination “regardless of whether any answer to a question of the qualification checklist is incorrect, false or inadequate”. Read the original article here
MC Hammer’s Rise and Fall: From $70 Million to Bankruptcy In the early 90s, MC Hammer was on top of the world. With chart-topping hits like “U Can’t Touch This” and “2 Legit 2 Quit”, Hammer amassed an estimated $70 million fortune at the height of his fame. But as quickly as the money poured…
Indian businessman Vijay Mallya. File. | Photo Credit: Reuters A consortium of Indian banks, led by State Bank of India, on Wednesday (April 9, 2025) won their court appeal in London to uphold a bankruptcy order against Vijay Mallya in a long-standing legal battle seeking repayment of a judgment debt owed by his now-defunct Kingfisher…
But he will still appear on the WA Senate ballot paper, as electoral laws do not allow the commission to reject a fully completed nomination “regardless of whether any answer to a question of the qualification checklist is incorrect, false or inadequate”. Read the original article here
But he will still appear on the WA Senate ballot paper, as electoral laws do not allow the commission to reject a fully completed nomination “regardless of whether any answer to a question of the qualification checklist is incorrect, false or inadequate”. Read the original article here
London: Businessman Vijay Mallya suffered another legal setback on Wednesday as the London High Court dismissed his appeal against a bankruptcy order issued in July 2021. The case revolves around a staggering £1.28 billion debt owed by Mallya to a consortium of Indian banks, including the State Bank of India. … Read the original article…