Mitel Set to File for Bankruptcy, Reports – CX Today
Mitel Set to File for Bankruptcy, Reports CX Today Read the original article here
Turkish airline Atlasglobal’s bankruptcy finalized as court ends legal battle
Turkish airline Atlasglobal’s bankruptcy finalized as court ends legal battle July 24, 2024 12:24 PM GMT+03:00 Atlasglobal, a prominent Turkish airline, declared bankruptcy in June 2021, officially confirmed by the Supreme Court. While this development marks the end of a significant chapter in Türkiye’s aviation industry, the process has been marked by numerous legal developments…
Corporate Exit Regime: India’s Bankruptcy Reforms Need One Final Push
Global lessons show that an efficient corporate exit regime can recycle money, talent and investor confidence. Corporate exit regime: Companies are born, they grow—and, sometimes, they must bow out. Founders rarely plan for failure, yet a clean, predictable exit is as vital to capitalism as easy incorporation. When insolvency drags on, investment freezes, workers are…
Why SC quashed JSW’s Rs 19,700 cr insolvency resolution plan for Bhushan Power & Steel
Rejecting the company’s request not to overturn the National Company Appellate Tribunal’s (NCLAT) order since it had complied with the resolution plan, Justices Trivedi and Sharma remarked: “A situation of fait accompli cannot be permitted to be created in the court to frustrate the proceedings, more particularly when the corporate insolvency resolution (CIR) proceedings had…
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A Total Of 5,272 Youths Declared Bankrupt Since 2020 – Bernama
A Total Of 5,272 Youths Declared Bankrupt Since 2020 Bernama Read the original article here
Mint Explainer: The Supreme Court’s Bhushan Power ruling that has stunned India’s insolvency ecosystem
On the receiving end of the ruling was JSW Steel Ltd. The company, among India’s largest steelmakers, acquired BPSL through a winning ₹19,000 crore bid in 2021, injected capital, integrated operations, and gained control of its assets, but now finds its plans quashed. A Supreme Court bench led by Justices Bela Trivedi and Satish Sharma effectively…
Sixty textile companies may go bankrupt amid import regulation controversy
The Ministry of Manpower noted that 60 textile companies may soon go bankrupt after being severely hit by financial problems since 2023 and due to the issuance of import regulations. Immanuel Ebenezer, Deputy Minister of Manpower, accused the issuance of the Minister of Trade Regulation (Permendag) No. 8/2024 as the main cause of the collapse…
Bankrupt landlord received £25,000 Covid loan despite pub closing six months before pandemic – AOL.com
Bankrupt landlord received £25,000 Covid loan despite pub closing six months before pandemic AOL.com Read the original article here