Supreme Court rejects Kwale Sugar bid to halt insolvency case – Capitalfm.co.ke
Supreme Court rejects Kwale Sugar bid to halt insolvency case Capitalfm.co.ke Read the original article here
SC orders status quo on Bhushan Power liquidation, allows JSW Steel to file review
The Supreme Court on Monday ordered a status quo on the liquidation proceedings of Bhushan Power and Steel Ltd (BPSL), granting relief to JSW Steel Ltd and allowing the company to file a review petition against the court’s 2 May verdict that quashed its ₹19,300 crore resolution plan. A bench comprising Justices B.V. Nagarathna and…
Supreme Court orders status quo on Bhushan Power & Steel liquidation
Notably, in December 2024, the ED decided not to pursue its appeal before the Supreme Court against JSW Steel’s takeover of Bhushan Power and Steel under the IBC. It also returned attached assets valued at ₹4,025 crore to JSW Steel so that it could take control of Bhushan Power pursuant to the insolvency resolution process under IBC. The restitution…
Private hospital operator Healthscope collapses into receivership
Healthscope’s lenders have appointed corporate restructuring firm McGrathNicol as receivers for the financially troubled hospital operator. The company is Australia’s second-largest private hospital operator and is owned by North American private equity group Brookfield, which bought it in 2019. Healthscope said, while the parent companies are in receivership, the operational business, which runs the hospitals,…
Park Hotel Management and Allen Law’s legal battle results in landmark High Court judgment for insolvency law
[SINGAPORE] Former Park Hotel Management (PHMPL) director Allen Law, who is being sued by liquidators of the company, has failed to reduce his potential liabilities by S$6.8 million after the High Court rejected his application to amend his defence and introduce a counterclaim. In a landmark judgment last year, Justice Goh Yihan dismissed Law’s application…
Jaiprakash Associates’ ₹936 Crore Cash Outflow Approved Amid Insolvency Proceedings, ET RealEstate
NEW DELHI: Lenders of Jaiprakash Associates have approved budgeted cash outflow of Rs 936.27 crore for the current quarter to ensure that the company remains as a going concern. Jaiprakash Associates, which is facing insolvency proceedings, also informed that the Enforcement Directorate initiated searches on May 23 and the company is cooperating with the agency.…
Three England Rugby Legends Declared Bankrupt in the Last Year – Page 2 of 3 – Ruck.co.uk
Three England Rugby Legends Declared Bankrupt in the Last Year – Page 2 of 3 Ruck.co.uk Read the original article here
Scary way Aussie went bankrupt after teacher insult
An Aussie IT manager has detailed the startling string of events that led her into bankruptcy and how she managed to turn things around and become a successful investor and homeowner. Liz Porter was told she would never amount to anything and, by her 20s, was spiralling – emotionally broken, flat broke and branded a…
New IBC rule stricter on personal guarantors – Banking & Finance News
The Insolvency and Bankruptcy Board of India (IBBI) has made it mandatory for resolution professionals (RPs) to inform the national company law tribunal (NCLT), if a personal guarantor fails to submit a repayment plan. The new rule will effectively increase the accountability of personal guarantors, make it difficult for them to escape culpability. “Where no…
Company Tells Customers Who Paid $13,500 for Glamorous Yurts That It’s Bankrupt, the Yurts Are Unavailable, and Refunds Are Impossible
In the lead-up to the United Kingdom’s famous Glastonbury festival this summer, well-heeled partiers shelled out for fancy “glamping” yurts — those tent-like dwellings with ancient origins in Central Asia that have been appropriated by hippies in recent decades — and the people who took their money are now telling them they’re out of luck. As the…