Category Archives: Liquidation

High Court clarifies that corporate successor trustees do not owe fiduciary duties to predecessors: what it means for insolvency practitioners and trust creditors | Restructuring touchpoint | Global law firm

This was co-authored by Lee-Oz Lifschitz. Insolvency practitioners and trust creditors should take note of the recent decision of the High Court of Australia in Naaman v Jaken Properties Australia Pty Limited [2025] HCA 1 (Naaman). The central question in this case was whether a successor trustee owed a fiduciary duty to its predecessor in…

Ashley Adams Worldchoice enters voluntary liquidation

Ashley Adams Worldchoice has entered voluntary liquidation “with the heaviest of hearts”, with the owner citing the knock-on impacts of the Covid pandemic.   The agency was established in 1969 and had a shop in Driffield, East Yorkshire. It specialised in group travel and sold coach tours and cruises.   Owner Steve Riley shared a…

Leicester financial planning firm enters voluntary liquidation – TheBusinessDesk.com

Leicester financial planning firm enters voluntary liquidation  TheBusinessDesk.com Read the original article here

IBBI proposes cap on assignments for insolvency professionals to curb delays

The IBBI has proposed imposing a cap on the number of assignments that insolvency professionals (IPs) can handle across key roles, in a bid to improve efficiency and ensure equitable distribution of work. Currently, IPs are restricted to a maximum of 10 assignments as resolution professionals (RPs) in corporate insolvency resolution processes (CIRPs), of which…

What the IBC Amendment Bill 2025 Promises — and Whether It Can Deliver – Outlook Business

Why Amend the IBC 2016? As per the Insolvency and Bankruptcy Board of India’s (IBBI) latest quarterly update on corporate insolvency cases (CIRPs), by the end of June 2025, a total of 8,492 companies had entered the CIRP process. Of these, 1,258 companies were successfully revived through resolution plans, 1,314 cases were closed after appeals,…

Cyclacel Pharmaceuticals, Inc. SEC 10-Q Report — TradingView News

Cyclacel Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on developing innovative cancer medicines, has released its Form 10-Q report for the second quarter of 2025. The report provides a detailed overview of the company’s financial performance and key business activities for the six months ended June 30, 2025. Financial Highlights Revenues: $0, The company reported no…

NCLAT clears way for insolvency proceedings against Supertech Realtors, upholds NCLT order

New Delhi, Aug 14 (PTI) The National Company Law Appellate Tribunal (NCLAT) has cleared the way for insolvency proceedings against Supertech Realtors, the developer of the Supernova project, which comprises residential apartments, offices, retail space, and a luxury hotel. NCLAT has cleared the way for insolvency proceedings against Supertech Realtors, the developer of the Supernova…

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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: 5045c9f1cc9068ba04a7e92a4e42dc0e, IP Address: 110.232.115.214, Status Code: 471Timestamp: 2025-08-14T09:51:50.270618905+00:00 Read the original article here

Delays in implementation of Resolution Plan under IBC: A growing concern

In contrast, in a recent Supreme Court ruling in Kalyani Transco v. Bhushan Power & Steel Ltd., 2025 SCC OnLine SC 1010, the Court directed the return of payments made by the SRA to the financial creditors, operational creditors and towards equity contribution, within two months from the date of the judgment. The apex court,…

IBBI proposes cap on assignments for insolvency professionals to curb delays – MSN

IBBI proposes cap on assignments for insolvency professionals to curb delays  MSN Read the original article here