Liquidation liabilities under new Company Law | China

Bankruptcy

Article 232 of China’s new Company Law expressly specifies directors as liquidation group members, while article 238 stipulates their mandatory liquidation duties and associated liabilities. These substantive amendments to the obligations of liquidators have altered the application of liability standards and exemption criteria. This article explores these legal developments through representative case studies, offering preliminary…

Investa’s Melbourne build to rent project could restart by June after builder Roberts Co’s insolvency

Bankruptcy

Construction on Investa’s stalled $450 million build-to-rent development in Melbourne could resume by June if a new builder can be appointed to replace failed contractor Roberts Co, which went into administration last month, sources close to the fund manager said. The decision by Rich List businessman Andrew Roberts to call administrators into his Victorian company…

Liberty Liege declared bankrupt, several buyers show interest

Bankruptcy

Liberty Steel’s Liège facility in Belgium has been declared bankrupt and already attracted attention from multiple potential buyers, sources familiar with the situation tell Kallanish. These include NLMK and ArcelorMittal, according to sources, while Tosyali, rumoured to be among the interested parties for Liberty’s Dudelange unit in Luxembourg, may also be in the running. Neither Liberty,…

NCLAT allows LDA, others to become parties in Ansal group’s insolvency case | Lucknow News

Bankruptcy

Lucknow: The troubles for Ansal Group deepened as the National Company Law Appellate Tribunal (NCLAT) allowed all concerned authorities, including the Lucknow Development Authority (LDA), to become parties in the ongoing insolvency case. The move, following strong advocacy by LDA, is expected to reinforce the interests of homebuyers affected by the real estate giant’s alleged…