Disability employment provider Bedford ‘staves off’ administration as SA government steps in

Disability employment provider Bedford will avoid entering voluntary administration for now, with the state government offering a $15 million lifeline to the organisation. Bedford had flagged on Thursday that it would enter administration on Sunday unless it was given a financial lifeline. Premier Peter Malinauskas said a “comprehensive” rescue plan has now been developed to…

Restriction On CIRP Assignments Taken By IRP Is A Matter Of Code Of Conduct Between IBBI & Resolution Professional: NCLT Mumbai

The National Company Law Tribunal (NCLT) Mumbai bench of Shri Prabhat Kumar (Technical Member) and Justice Shri V.G. Bisht (Judicial Member) has held that restrictions on the number of Corporate Insolvency Resolution Professional (CIRP) assignments an Insolvency Professional (IP) can take is a conduct of code between the Insolvency and Bankruptcy Board of India (IBBI)…

Individual Homebuyer Can’t Maintain Application U/S 60(5) Of IBC For Rejection Of Other Creditors’ Claims: NCLT Chandigarh

The National Company Law Tribunal (NCLT) Chandigarh bench of Sh. Harnam Singh Thakur, (Judicial Member) and Sh. Shishir Agarwal (Technical Member) has held that an individual homebuyer is not permitted to approach the Adjudicating Authority seeking rejection of other creditors’ claims especially when no enforcement of his rights or personal grievances is involved. The present…