The Supreme Court’s (SC) decision to recall its May 2 judgment that had ordered the liquidation of Bhushan Power and Steel (BPSL) is a significant positive outcome for the Insolvency and Bankruptcy Code (IBC) and the overall framework for stressed asset resolution in India. The top court’s decision to hear the case afresh on August…
The Insolvency Service has officially confirmed that Nottingham Rehab Limited and NRS Healthcare Limited are in liquidation. It follows a range of news stories reporting that NRS Healthcare, which supplies assistive technologies to the NHS and local authorities, was on the brink of going bust. Today, (1 August 2025), winding up orders were made against…
National furniture brand faces Chapter 7 bankruptcy, liquidation TheStreet Read the original article here
Harsh economic times have been cited as the reason for the liquidation of a Wanaka interior design business. Wanaka Interiors, which was incorporated in March 2022, was placed in liquidation by shareholders resolution last month. In their first report, liquidators Trevor and Emma Laing, of Laing Insolvency Specialists, said the business, owned by Celeste and…
The National Company Law Tribunal (NCLT) Hyderabad bench of Sri Rajeev Bhardwaj (Hon’ble Judicial Member) and Sri Sanjay Puri (Hon’ble Member Technical) has held that in absence of any payment received by the Corporate Debtor in a subcontracted work executed by the Operational Creditor, application under section 9 of the IBC cannot be entertained. Filing…
Bowen Coking Coal enters voluntary administration MSN Read the original article here
Bowen Coking Coal Limited (ASX:BCB), along with its subsidiaries Bowen PCI Pty Ltd and New Lenton Coal Pty Ltd, have entered receivership. Bowen Coking Coal is an Australian company focused on developing coking coal projects. The company’s portfolio includes a range of assets and strategic initiatives aimed at capitalising on the growing demand for high-quality…
On 1 August 2025, winding up orders were made against Nottingham Rehab Limited (trading as NRS Healthcare) and NRS Healthcare Limited. The court appointed the Official Receiver, Gareth Jonathan Allen, as Liquidator. Following an application made by the Official Receiver, the court also appointed Mark James Tobias Banfield, Edward Williams, Helen Laura Wheeler-Jones, Adam Seres and David…
KFC rival nears Chapter 7 bankruptcy, closes stores, liquidation looms MSN Read the original article here
Recently, the Supreme Court of India answered a crucial question of whether an entry made in the balance sheet of a company can be classed as a de-facto acknowledgment of debt as stipulated in Section 18 of the Limitation Act, 1963, thus giving a further extension concerning the timeline of application as assigned under Section…