Metro Tyres drags Hero Electric to insolvency court

The New Delhi bench of the National Company Law Tribunal has admitted the insolvency petition filed by operational creditor Metro Tyres Limited against Hero Electric Vehicles Pvt. Ltd. The dispute Centers around an outstanding payment of Rs. 1.85 crore for cycle tyres and tubes supplied by Metro Tyres to Hero Electric. Hero Electric claims the…

CCA files in US for bankruptcy

By NEIL HARTNELL  Tribune Business Editor  [email protected] TWO Nassau resorts, and their Bahamian holding entities, are not caught by yesterday’s “last resort” bid from Baha Mar’s contractor to protect its US arm from Sarkis Izmirlian’s “crippling” $1.6bn damages win. CCA Construction Inc, the contractor’s New Jersey-based entity, confirmed it had sought Chapter 11 bankruptcy protection…