The financial woes of the Pierer Mobility Group continue. Today, the PMG – parent company of KTM – announced they are to apply for a so-called judicial restructuring proceedings with self-administration. This is a form of bankruptcy protection, allowing a company to be reorganized and reach an agreement with its debtors. While it is always…
Thames Water has brought in an insolvency veteran, who cut his teeth in the unravelling of the Robert Maxwell empire 30 years ago, to oversee its attempts to recapitalise the business and avoid sliding into administration. The stricken water monopoly has appointed Julian Gething as its chief restructuring officer, a new role at the company.…
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WISI concludes insolvency proceedings Broadband TV News Read the original article here
WISI Communications, the German communications tech provider, has announced that, on November 27th, the Pforzheim District Court decided to terminate the insolvency proceedings against the assets of the company. The decision came into effect at midnight on November 30th, following the legally binding confirmation of the insolvency plan. WISI said it initiated the insolvency proceedings…
New Delhi: Riju Raveendran, the largest shareholder of edtech company Byju’s and brother of founder Byju Raveendran, approached the insolvency tribunal on Monday, seeking to be included in the insolvency case deliberations involving the troubled firm, its lenders and the cricket board. Riju Raveendran’s counsel urged the tribunal to allow him to present his defence…
Glas Trust, which represents a group of US entities that lent $1.2 billion to beleaguered edtech firm Byju’s, on Monday questioned the maintainability of the withdrawal application for the insolvency petition filed by the Board of Control for Cricket in India (BCCI’s) against the company. Glas Trust argued in the National Company Law Tribunal (NCLT)…
Insolvency appointments November 16 to 29 2024 Business News Read the original article here
By Rick Archer · November 26, 2024, 5:22 PM EST A Canadian charter bus company that provides buses for Los Angeles airports is asking a California bankruptcy judge to grant U.S. recognition to its efforts to sell the company in a… To view the full article, register now. Read the original article here
On 19 November, judicial member Mahendra Khandelwal of the Delhi bench of the NCLT (National Company Law Tribunal) pulled up Engine Lease Finance B.V., the engine lessor of budget airline SpiceJet, for keeping a settlement pending in the IBC forum to leverage settlements with the airline. “Both the Ld. Counsels submitted that the parties are…