NCLAT upholds order passed by NCLT on appointment of RP for Metenere Ltd. – Economic Times

An appellate tribunal upheld NCLT order prohibiting appointment of a former bank official as a resolution professional (RP) of a bankrupt company due to the possibility of bias, in a judgement that experts say could have wide ramifications on ongoing and future corporate insolvency resolution process. The National Company Law Appellate Tribunal (NCLAT) upheld an…

Organic dairy co-op goes into voluntary administration – The Australian Dairyfarmer

A co-operative which lays claim to producing Australia’s largest pool of certified organic has gone into voluntary administration. Organic Dairy Farmers of Australia Limited (ODFA) produces the True Organic brand of milk, butter and cream. It also supplies milk to FiveAM yoghurt, Pure Organic milk and Lemnos cheese. Worrells Solvency and Forensic Accountants were appointed…

UK Corporate Insolvency and Governance Bill: Highlights | Weil, Gotshal & Manges LLP – JD Supra

On Wednesday 20 May, the Government published the highly anticipated Corporate Insolvency and Governance Bill (the CIGB). It legislates for the landmark changes to the UKs corporate insolvency regime and the temporary suspension of the statutory provisions on wrongful trading announced by the Business Secretary on 28 March 2020 (see Weils European Restructuring Watch update…