The National Company Law Appellate Tribunal (NCLAT) held that a dispute over unpaid celebrity endorsement fees cannot be treated as an “operational debt” under the Insolvency and Bankruptcy Code, 2016 (IBC). The ruling came in an appeal filed by actor Akshay Kumar against ed-tech firm Cue Learn, challenging the National Company Law Tribunal’s (NCLT) refusal…
Bellevue-based outdoor retailer Eddie Bauer has initiated voluntary Chapter 11 bankruptcy proceedings in the US Bankruptcy Court for the District of New Jersey. The filing is specifically limited to the company’s North American brick and mortar operations, which include retail and outlet stores across the US and Canada. The company has entered into a restructuring…
Firm that sponsored Scottish Premiership side goes bust thescottishsun.co.uk Read the original article here
Insolvency law needs a complete overhaul and a new regulator because the current system is unfit for purpose, the Australian Restructuring, Insolvency and Turnaround Association (ARITA) says in its submission to the government investigation on the matter. ARITA chief John Winter said the law was simply “too damn hard” and deterring struggling businesses from doing the…
The UK-based parent company of Alstons, has reported a 41.5% decline in sales to £62.1 million for the year ending 31 December 2024, with pre-tax losses widening sharply to £26.3 million from £757,000 in 2023. © Rido | Dreamstime TCM Living Group’s…
Donegal’s three EuroGiant stores will trade during the process of a review of the company’s store network takes place, after the company entered court-appointed liquidation this week. On Wednesday, EuroGeneral Ltd and Bushgrove Ltd, which trade as EuroGiant, entered into liquidation. EuroGiant has two stores in Letterkenny and one in Donegal Town. Judge Brian Cregan appointed…
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A family-run used car dealer is to bring the shutters down on 22 years of trading after the firm collapsed into liquidation. Glynn Andrews Car Sales in Widness is to cease trading after it officially moved to appoint liquidators at the end of last week. The news was confirmed via an announcement to the London…
Donegal’s three EuroGiant stores will trade during the process of a review of the company’s store network takes place, after the company entered court-appointed liquidation this week. On Wednesday, EuroGeneral Ltd and Bushgrove Ltd, which trade as EuroGiant, entered into liquidation. EuroGiant has two stores in Letterkenny and one in Donegal Town. Judge Brian Cregan appointed…
1. Overview 1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions? The rescue and insolvency of companies incorporated in Switzerland are governed by the Swiss Code of Obligations (CO) and the Swiss Debt Enforcement and Bankruptcy Act (DEBA). The CO and the DEBA generally strike a fair balance between…