Germany has reported its highest number of corporate bankruptcies since the global financial crisis of 2009, highlighting the increasing strain on businesses amidst rising costs, high interest rates, and diminishing state support. According to a study conducted by the Halle Institute for Economic Research (IWH), the economic challenges of 2024 led to a surge in…
Mosaic Brands, the company behind Australian fashion brands including Rivers, Katies and Noni B, has entered voluntary administration, putting almost 3,000 jobs at risk. The company, which operates more than 700 retail stores around the country, confirmed the decision in a statement to the Australian Securities Exchange (ASX) on Monday afternoon. It comes after Mosaic…
The National Company Law Appellate Tribunal bench of Justice Ashok Bhushan (Chairperson) and Barun Mitra (Technical Member) has held that the Corporate Debtor, Eurolife Healthcare Pvt. Ltd., retained absolute rights over the disputed 13,000 sq. ft. Cephalosporin Facility as part of the liquidation estate. Brief Facts Maharashtra Industrial Development Corporation (MIDC) executed a 95-year lease…
Liquidation of a company- treatment of surplus ( negative) in preparing liquidators statement [Resolved] | Accounts CAclubindia Read the original article here
Fuel cell truck manufacturer Hyzon to be liquidated www.electrive.com Read the original article here
The Insolvency and Bankruptcy Board of India (IBBI) has mandated that all auctions for the sale of assets under the liquidation process must be conducted exclusively on the eBKray auction platform starting April 1, 2025. This directive aims to streamline the auction process, enhance transparency, and improve recovery rates in liquidation cases. Additionally, the insolvency…
The Tribunal concluded that the appellant’s claims were subordinate to the ongoing CIRP and dismissed the appeals The Chennai Bench of National Company Law Appellate Tribunal ( NCLAT ) upheld the rejection of two applications filed by the appellant, confirming that a disputed property claimed by him would remain part of the Corporate Debtor’s (…
A three-member bench of the National Company Law Appellate Tribunal (NCLAT) said it will have to take a ‘final decision’ in the matter as the appeal has been pending for the last several months. PTI Last Updated : 11 January 2025, 08:17 IST Follow Us : Comments Read the original article here
U.S. corporate bankruptcy filings rise: S&P Investment Executive Read the original article here
Amid Germany’s economic downturn, the number of companies in the country filing for bankruptcy rose by 16.8% in 2024 compared to the year before, according to a report from the Federal Statistical Office released on Friday. In the final month of the year, insolvency filings rose by 13.8% compared to the same month in 2023,…