NCLAT stays insolvency proceedings against Container Corporation of India – Economic Times

The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings initiated against Container Corporation of India. On July 12, the New Delhi-based Principal bench of the National Company Law Tribunal (NCLT) had admitted the petition filed by Roadwings International, an operational creditor of the public sector enterprise, and ordered to initiate Corporate Insolvency…

Dutch E-Bike Maker VanMoof Declared Bankrupt – SGB Media

Dutch e-bike manufacturer VanMoof has been declared bankrupt in the Netherlands. The company had entered into a so-called suspension of payment proceeding with court-assigned administrators just last week to avoid bankruptcy proceedings while pursuing options to reduce debt, including a sale. The company has posted a support document outlining the current situation for both customers and suppliers/creditors.…

UK on track for most company insolvencies since 2009 – SaltWire N.L. powered by The Telegram

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS SaltWire’s Atlantic regional weather forecast for July 18, 2023 | SaltWire Watch on YouTube: “SaltWire’s Atlantic regional weather forecast for July 18, 2023 | SaltWire” LONDON (Reuters) – England and Wales are on track for the highest quarterly number of company insolvencies since early 2009, as businesses struggle to…

Business insolvencies jump by almost a third as British firms struggle against rising borrowing costs and cons – This is Money

Company insolvencies in England and Wales jumped by 27 per cent in the year to June amid rising borrowing rates and broader economic weakness. Some 2,163 companies were declared insolvent in June, which is up from 1,698 at the same time last year, fresh data from the Insolvency Service published by the Government on Tuesday…

Company windups rise again surpassing pre-pandemic levels but individual insolvencies fall – Sky News

The number of businesses being wound up has increased again as firms are hit by the withdrawal of COVID-era support, higher interest rates and dwindling consumer spending. The level of business insolvencies is higher than pre-pandemic times and when the state was supporting businesses throughout the COVID-19 years, figures from the Insolvency Service show. Registered…