Icra urges a separate framework for small-ticket insolvency cases to ease NCLT burden & expedite larger resolutions. Delays persist in CIRP despite IBC amendments. Mumbai, Jun 3 (PTI) Rating agency Icra on Wednesday pitched for a separate framework for small-ticket insolvency cases before they reach the National Company Law Tribunal (NCLT), saying such a mechanism…
WISCONSIN RAPIDS, Wis. (WSAW) – A trucking company in Wisconsin Rapids is notifying employees that they should expect mass layoffs, though a date on when that would happen was unknown. Sparhawk Trucking and Sparhawk Truck and Trailer, Inc. filed a Worker Adjustment and Retaining Notification or WARN with the Wisconsin Department of Workforce Development. The…
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The company which sold tickets to a popular county Leitrim music festival has confirmed has ceased trading as it plans to enter liquidation. Earlier today, Simon Power, the Managing Director of Drumcoura City which hosts Cowboys and Heroes told Shannonside FM that ‘a substantial amount of money’ by Tickets.ie. 2026’s festival took place last week…
SBI Back In Reliance Infratel CoC As Supreme Court Sets Aside NCLAT Order Excluding Consortium Lenders Case Title : STATE BANK OF INDIA AND ORS. Versus DOHA BANK Q.P.S.C. AND ANR Case Number : C.A. No. 8527/2022 The Supreme Court of India has allowed the appeal filed by the State Bank of India against an…
The string of airline bankruptcies that began following the U.S. strike on Iran and subsequent spike in jet prices is not over yet. The most prominent collapse occurred at the start of May when well-known low-cost airline Spirit Airlines canceled all of its flights and shut down for good. This was despite much industry hope for a…
Woods explained that he had inherited a company with no prior investigation, insufficient property to fund inquiries, and a lack of books and records. He told the court that August’s non-compliance with information requests forced him to seek ASIC’s help, and that several key documents surfaced only when he reviewed August’s own affidavits. The judge accepted…
The National Company Law Tribunal (NCLT) Kolkata Bench has admitted a Section 7 insolvency application filed by State Bank of India (SBI) against Martina Bio Genics Private Limited and held that pending winding-up proceedings cannot override the objective of corporate revival under the Insolvency and Bankruptcy Code, 2016 (IBC). SBI submitted that Martina Bio Genics…
The National Company Law Tribunal (NCLT) Bengaluru Bench has admitted an insolvency application and held that proceedings initiated by a secured creditor under the Securitisation and Reconstruction of Financial Assets and Enforcement ofSecurity Interest Act, 2002 (SARFAESI) does not operate as a bar to the initiation of corporate insolvency resolution process (CIRP) under the Insolvency…
A family-run building company based in Swindon has appointed liquidators after a decade in business. Twelve Design & Build Limited, based at 12 Sheep Street, Highworth, specialises in the construction of domestic buildings, covering everything from extensions and renovations to loft and barn conversions across Swindon and surrounding areas. But according to The Gazette official…