$455M Chicago sale latest move in Denver apartment company liquidation – The Business Journals
$455M Chicago sale latest move in Denver apartment company liquidation The Business Journals Read the original article here
Since the state’s decision to liquidate, the company’s assets have slowly been looted
After stormy debates and heated exchanges, the general assembly of the Egyptian Iron and Steel Company (EISC) convened on September 22 to approve yet another extension to the company’s liquidation timeline, adding a fifth year starting in January. The hall erupted with chants from individual shareholders: “Void, void, void. Five years of liquidation is void.”…
Schools PFI firm’s liquidation to hit Equans for £5m
Equans is set to take a near £5m hit from the liquidation of the private finance initiative (PFI) company that previously had responsibility for schools in Stoke-on-Trent. Transform Schools (Stoke) Ltd (TSSL), a PFI vehicle that built and maintained the city’s schools under a 25-year contract with City of Stoke-on-Trent Council, announced in November that…
ICRA Reports 28% Drop in Corporate Insolvency Cases to 724 in FY2025, ETLegalWorld
Fewer companies went through the insolvency process under the Insolvency and Bankruptcy Code (IBC) in financial year (FY) 2025, according to the credit rating firm ICRA. As per the ICRA, only 724 companies were admitted for insolvency, a sharp 28 per cent drop from 1,003 in the previous year. The number of approved resolution plans…
All Property, Including Alleged Benami Assets, Shielded From Action Over Pre-Resolution Offences: Madras High Court
The Madras High Court has recently held that once a resolution plan is approved under the Insolvency and Bankruptcy Code, authorities cannot proceed against any property standing in the name of a corporate debtor for offences committed before the insolvency process, even if such property is alleged to be held benami. A single bench of…
Melbourne builder collapses into liquidation over unpaid debts – Herald Sun
Melbourne builder collapses into liquidation over unpaid debts Herald Sun Read the original article here
NCLT Mumbai Bench Approves Ashdan Properties' Resolution Plan for Rolta India – scanx.trade
NCLT Mumbai Bench Approves Ashdan Properties’ Resolution Plan for Rolta India scanx.trade Read the original article here
NCLAT Sets Aside NCLT Order Directing Release of Fixed Deposit Collateral [Read Order]
The Principal Bench of National Company Law Appellate Tribunal (NCLAT), New Delhi, upheld ICICI Bank’s status as a secured financial creditor, holding that fixed deposits pledged as cash collateral constitute valid security during insolvency proceedings. The Tribunal set aside the NCLT’s earlier direction to release the fixed deposits, allowing the appeal and confirmed ICICI Bank’s…
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