The National Company Law Tribunal (NCLT) has overturned its own July 2023 decision to initiate insolvency proceedings against Logix Infrastructure. The tribunal found that the insolvency application was filed with “fraudulent and mala fide intentions” by the financial creditor, Experts Realty Professionals. This rare move highlights ongoing concerns about the misuse of insolvency laws in…
Lilium Suspends Business Ops, Faces Potential Second Insolvency | Aviation Week Network https://aviationweek.com/themes/custom/particle/dist/app-drupal/assets/awn-logo.svg Skip to main content … Read the original article here
Foresea Limited targeted businesses with hospitality tickets for the British Grand Prix The company is connected to three similar scam businesses shut down following Insolvency Service investigations. Foresea Ltd was wound-up at the High Court in Manchester on 12 February 2025. A company which offered businesses British Grand Prix hospitality packages they never actually had…
Foresea Limited targeted businesses with hospitality tickets for the British Grand Prix The company is connected to three similar scam businesses shut down following Insolvency Service investigations. Foresea Ltd was wound-up at the High Court in Manchester on 12 February 2025. A company which offered businesses British Grand Prix hospitality packages they never actually had…
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Shardul Amarchand Mangaldas Advises Pankaj Dhanuka, Resolution Professional And Subsequently The Liqtuidator Of Maadurga Thermal Power Company BW Legal World Read the original article here
The largest fish market in the southern hemisphere is reportedly close to financial collapse. The Sydney Fish Market (SFM) is confronting an $8m loss for 2023-24, according to The Sydney Morning Herald, and the company has allegedly brought in insolvency experts. The financial breakdown comes as the legendary auction site and retail zone prepares to…
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Insolvency: Company administration Commons Library Read the original article here
Retail chains in the Netherlands have increasingly found ways to continue operating after declaring bankruptcy, often in a slimmed-down form, De Telegraaf reports. These companies frequently leave suppliers, landlords, and employees with little to no compensation. While some question the fairness of this process, courts often view it as the “least bad outcome” when a…