Jovian Mandagie declared bankrupt over RM5.28 million ‘friendly loan’ – MSN
Jovian Mandagie declared bankrupt over RM5.28 million ‘friendly loan’ MSN Read the original article here
Borosil Renewables German arm files for insolvency
New Delhi, Jul 7 (PTI) Borosil Renewables on Monday announced that its German subsidiary GMB Glasmanufaktur Brandenburg GmbH has filed for insolvency under German Insolvency Code (InsO) before the jurisdictional court at Cottbus. Borosil Renewables Ltd is listed on the BSE as well as the NSE. The decision follows a prolonged period of deteriorating market…
New York Bankruptcy Court Examines COMI for Purposes of Chapter 15 Recognition of Foreign Restructuring Proceedings Involving Multinational Companies – Jones Day
New York Bankruptcy Court Examines COMI for Purposes of Chapter 15 Recognition of Foreign Restructuring Proceedings Involving Multinational Companies Jones Day Read the original article here
Insolvency law cannot override PMLA, says NCLAT; upholds asset attachment by ED, ET LegalWorld
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 applied on those assets for…
Borosil Renewables Realigns Business as German Subsidiary Files for Insolvency – Europe
Borosil Renewables Limited has announced that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency under the German Insolvency Code (InsO) before the jurisdictional court at Cottbus. The decision follows a prolonged period of deteriorating market conditions in the European solar manufacturing ecosystem. and reflects the company’s intent to sharpen strategic focus on the…
Borosil Renewables Realigns Business as German Subsidiary Files for Insolvency – Europe
Borosil Renewables Limited has announced that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency under the German Insolvency Code (InsO) before the jurisdictional court at Cottbus. The decision follows a prolonged period of deteriorating market conditions in the European solar manufacturing ecosystem. and reflects the company’s intent to sharpen strategic focus on the…
Borosil Renewables Gains 4.3% after German subsidiary files for insolvency
CHENNAI: Shares of Borosil Renewables Ltd., jumped 4.30% to Rs 518.50 a unit on Monday (July 7) at 10.56 AM, following the announcement that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency in a German court. The move follows months of operational challenges. GMB had cooled down its furnaces in January 2025…
Mosaic may have traded insolvent for years, administrators say
The administrator of failed retailer Mosaic Brands has raised the possibility that the company was trading while insolvent as far back as five years ago. Mosaic, once one of the biggest ASX-listed clothing retailers, collapsed last year, with FTI Consulting appointed as administrators. The company operated clothing chains including Katies, Millers, Noni B and Rivers,…
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Insolvency law can’t override PMLA, ED asset attachment is valid
New Delhi: The National Company Law Appellate Tribunal (NCLAT) has ruled that the Insolvency and Bankruptcy Code (IBC) does not supersede the Prevention of Money Laundering Act (PMLA), stating that assets attached by the Enforcement Directorate (ED) and confirmed by the competent authority cannot be released for the purpose of insolvency resolution. The three-member bench…