In a recent decision of the Federal Court of Australia (Krejci (liquidator) v Panella, in the matter of Richmond Lifts Pty Ltd (in liq) [2025] FCA 151), Justice Cheeseman upheld orders appointing provisional liquidators and receivers to several solvent companies. The case is an important reminder that the Court is willing to intervene in a…
The genetic testing company 23andMe has filed for bankruptcy. Justin Sullivan/Getty Images hide caption toggle caption Justin Sullivan/Getty Images The genetic testing company 23andMe, best known for allowing people to trace their ancestry with an at-home kit, has been struggling financially for months. So when the California biotech firm announced in a statement this week…
NCLAT Dismisses IDBI Banks Plea For Insolvency Against Zee Entertainment NDTV Profit Read the original article here
NCLAT dismissed IDBI Bank’s insolvency plea against Zee Entertainment, ruling that the default occurred during the COVID-19 period was protected under Section 10A of the IBC The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) ruled that an insolvency application filed by IDBI Bank Limited against Zee Entertainment Enterprises Ltd. (ZEE) was…
Peres Projects, Influential Berlin Gallery, Declared Insolvent by German Court Artnet News Read the original article here
Business owners are becoming more conservative with borrowing after recent data highlighted challenges are persistent. Business failures are rising and forcing many to rethink processes, according to the Experian Commercial Risk Barometer. As of the last quarter of 2024, there was a 0.7 per cent increase in businesses operating in the Australian market. Businesses at…
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TOI correspondent from London: A consortium of Indian banks celebrated on Wednesday after the UK high court refused Indian tycoon Vijay Mallya permission to appeal his UK bankruptcy order and the amended bankruptcy petition.The State Bank of India-led consortium is trying to claw back a £1 billion debt from Kingfisher Airlines founder Vijay Mallya who…
The National Company Law Appellate Tribunal (NCLAT) observed that Section 60(1) expressly provides for the NCLT to function as the Adjudicating Authority for Personal Guarantors to Corporate Debtors, thereby aligning such cases procedurally with corporate insolvency proceedings under Part II, even though the substantive provisions are rooted in Part III. The Appellate Tribunal clarified that…
A consortium of Indian banks, led by State Bank of India, on Wednesday 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 Airlines. High Court judge Anthony Mann ruled in favour of the banks…