Elme Communities Concludes Strategic Alternatives Review Process; Executes Agreement to Sell 19 Properties to Cortland, Remaining Assets to be Marketed for Sale

Liquidation

Elme to Seek Shareholder Approval for Cortland Portfolio Transaction and Plan of Sale and Liquidation Intends to Make Total Upfront Distributions to Shareholders of Approximately $14.68 to $15.00 per Share assuming the Consummation of the Cortland Portfolio Transaction Company’s Current Estimate of Additional Liquidating Distributions to Shareholders is Approximately $2.90 to $3.50 per Share in the Aggregate…

IBBI Penalises Insolvency Professional for Failing to Protect Corporate Debtor’s Assets During CIRP [Read Notification]

Liquidation

The Insolvency and Bankruptcy Board of India (IBBI) has imposed a financial penalty on insolvency professional Mr. Pankaj Ramandas Majithia for multiple lapses during his tenure as the Resolution Professional (RP) in the insolvency of Shree Ram Urban Infrastructure Pvt. Ltd. The action stems from his failure to safeguard the corporate debtor’s assets and his…

NCLAT Rejects Impleadment Pleas in ₹1300 Crore CIRP Cost Dispute Post Resolution Plan Approval [Read Order]

Liquidation

The National Company Law Appellate Tribunal (NCLAT), Principal Bench in New Delhi, has dismissed a plea filed by the SREI Multiple Asset Investment Trust (SMAIT), which sought to be impleaded in an ongoing insolvency appeal tied to a hefty ₹1300 crore CorporateInsolvency Resolution Process (CIRP) cost dispute. The Trust, which claimed to have held a…

Cites Pre-Existing Contractual Issues [Read Order]

Liquidation

The National Company Law Appellate Tribunal (NCLAT) has upheld the National Company Law Tribunal’s (NCLT) decision dismissing an insolvency application filed under Section 9 of the Insolvencyand Bankruptcy Code, 2016 (IBC) by Morex Corporation Limited against Jindal Poly Films Ltd. The appellate tribunal found the existence of a genuine pre-existing dispute between the parties regarding…

Request Blocked

Liquidation

An error has occurred Your request was blocked by Link11 Web Application Security.If you believe this is the result of an error, contact the administrator of www.tipranks.com. ID: fa67f03f487e007638ca9300439de1ef, IP Address: 110.232.115.214, Status Code: 471Timestamp: 2025-08-04T08:44:13.335862888+00:00 Read the original article here

Ally Fashion returns to business after DOCA approval

Liquidation

Control over the Ally Fashion business has been returned to the company’s director, David Dai, following a lengthy appeal process that ended with creditors accepting a deed of company arrangement (DOCA). Four months ago, the Federal Court of Australia forced Ally Fashion into liquidation following an application by a landlord for rent arrears. The court…