23andMe, the popular genetic testing service with DNA samples collected from millions of Americans, announced it is voluntarily filing for Chapter 11 bankruptcy. News of the pending bankruptcy came mere weeks after 23andMe’s board rejected an acquisition proposal from the company’s co-founder and CEO Anne Wojcicki. Instead, it will look to restructure its debt and…
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The Supreme Court has criticised the National Company Law Appellate Tribunal (NCLAT) for disregarding a binding precedent set by the apex court to the effect that once a resolution plan is approved by the National Company Law Tribunal, claims not included within it cannot be revived later. The bench held that NCLAT had wrongly disregarded…
Bankrupt genetic testing firm 23andMe Holding Co. won permission from a judge to try to sell information about customers’ medical and ancestry-related data, a trove that is considered the most valuable asset in the insolvency case — and has become a source of privacy and safety concerns amid the company’s collapse. Shares in the company…
Canada Jetlines has entered the first stage of a restructuring process under Canada’s Bankruptcy and Insolvency Act (BIA), less than a week after ceasing operations due to a lack of financing. A notice of intention under the BIA permits Canada Jetlines to pursue a restructuring of its affairs and has the effect of imposing an…
City officials are hoping the bankruptcy process would give the city more control over payment of a $22 million judgment it now owes to City Heights Holdings, LLC. CLE ELUM, Wash. — The Cle Elum City Council approved a resolution at a Tuesday night meeting that allows the city to file for bankruptcy in the…
Number of people in Ashfield declared financially insolvent rose in the last year Mansfield and Ashfield Chad Read the original article here
Number of people in Ashfield declared financially insolvent rose in the last year Mansfield and Ashfield Chad Read the original article here
What is a phoenix company? A phoenix company is a business acquired from a formal insolvency process, often by existing directors. This process must adhere to strict guidelines to protect creditor interests. Phoenixism can have a bad reputation, particularly where the new entity is under the same ownership and control as the previous entity. Nevertheless,…
Ola Electric responded by strongly disputing the claims and also contended that it would take all necessary legal steps to protect its interests. The company mentioned it was already in the process of renegotiating contracts with its vehicle registration agencies including Rosmerta. This renegotiation was cited as the reason for a temporary dip in vehicle…