South African Blue fans left in limbo as company behind concert faces liquidation

Ticketholders for the cancelled British band Blue concert have been holding their breath in anticipation of news about their refunds. Top Tickets and de Villers have been unresponsive to queries from disgruntled ticketholders. On Tuesday, De Villiers National Cycling issued a statement revealing that the company has officially ceased all operations following the successful liquidation…

NCLT Initiates CIRP on Finding Default Due and Payable Beyond IBC Section 4(1) Threshold [Read Order]

In a recent case, the National Company Law Tribunal (NCLT) Mumbai Bench initiated the Corporate Insolvency Resolution Process (CIRP) against the corporate applicant on finding a default due payable. The Company Petition is filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 (“Code”) by Asis Corporate Advisors Limited (“Corporate Applicant/ACAL”), seeking to initiate…

NCLT admits CIRP Petition [Read Order]

The National Company Law Tribunal (NCLT) Mumbai Bench admitted the petition for Corporate Insolvency Resolution Process (‘CIRP’) on finding that the Corporate Debtor has defaulted in repayment of financial debt over minimum threshold of Rs. 1 crore under section 4 of the Insolvency & Bankruptcy Code 2016 (IBC). The Applicant- JM Financial Credit Solutions Limited…

South African Crypto Firm, NTC Global Trade, Linked to ~$27 Million Investor Losses Faces Liquidation After Probe – BitKE

A South African crypto investment company, NTC Global Trade, has officially been placed under provisional liquidation by the Pretoria High Court, marking the collapse of yet another high-profile scheme in the country’s crypto investment scene. The ruling follows the resignation of the company’s Business Rescue Practitioner (BRP), Kurt Knoop, who stepped down citing death threats.…