Chapter 11 is expensive and not always the right tool, particularly for a restructuring of a company with a broken balance sheet, as compared to a business with a broken business model. We have seen a significant uptick in out-of-court activity and clients frequently ask us about foreclosure options. In this post, we highlight a…
A plant-based food retailer has filed for bankruptcy protection. The company — which sells its products through Amazon and Walmart, among other places – filed earlier this month, although the reason for the bankruptcy was not specified. TheStreet reports how Atlantic Natural Foods LLC (ANF) moved forward with this bankruptcy protection in the U.S. Bankruptcy…
Updated Apr 22, 2025 07:15 IST BSE-listed plastic water tank company set for liquidation; trading already suspended (Pic: Shutterstock/ ET NOW) A BSE-listed plastic water tank company is set for liquidation . The National Company Law Appellate Tribunal ( NCLAT ) has upheld an order passed by NCLT liquidation. According to a PTI report, a…
The Resolution Professional of Morarjee Textiles Limited has filed the Resolution Plan, as approved by the Committee of Creditors (COC), with the National Company Law Tribunal, Mumbai in accordance with the provisions of Insolvency Bankruptcy Code, 2016 on for its consideration and subsequent approval. The COC of Morarjee Textiles Limited has approved the Resolution Plan…
Greensill-Owned Bank Declared Insolvent, Causing Losses for Small German Towns WSJ Read the original article here
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Shivinder Mohan Singh, former promoter of Fortis Healthcare and Religare Enterprises, has filed for personal insolvency before the National Company Law Tribunal (NCLT) in Delhi, reported Bar and Bench. The matter was briefly heard on April 21 and is scheduled to resume in May. Singh has invoked Section 94 of the Insolvency and Bankruptcy Code…
Dentsu logo (file image) The bankruptcy court in Mumbai has recently dismissed an insolvency petition filed against Dentsu Communication India, citing a lack of evidence of operational debt and raising concerns over allegedly ‘fraudulent transactions’ involving the company’s former employees and third-party vendors. The Mumbai bench of the National Company Law Tribunal (NCLT) passed this…
The insolvency appellate tribunal NCLAT has upheld an NCLT order directing liquidation of debt-ridden Sintex Plastics Technology. A two-member bench of the National Company Law Appellate Tribunal (NCLAT) also rejected the submission of an unsuccessful bidder that NCLT passed an order for liquidation even though its lone CoC member had abstained from voting. RBL Bank…
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