The National Company Law Appellate Tribunal (NCLAT) has paved the way for insolvency proceedings against Supertech Realtors over its ambitious Supernova project. The developer is facing legal action following a petition by the Bank of Maharashtra, which claims the company defaulted on its financial obligations. After reviewing the situation, the NCLAT supported the earlier…
General Pants Co supplier lodges winding-up order Inside Retail Australia Read the original article here
Gupta coal mine faces liquidation as creditors lose patience The Australian Read the original article here
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. AVIATION Startup Merlin Labs valued at $800 million in deal to go public Merlin Labs wants to test its autonomous aviation software at Hanscom.Photo courtesy of Merlin Labs Autonomous aviation startup Merlin Labs will soon be soaring into…
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 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 Read the original article here
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…
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., 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…