In January 2020, the creditors chose to authorise the liquidator to execute a deed of assignment and indemnity under s 477(2B) of the Corporations Act 2001 (Cth) (Act). The director proposed that Eguana initiate proceedings against KNM Process System Sdn Bhd (KNMPS), previously Eguana’s sole shareholder, to recover Eguana’s debts to its creditors. In May…
The meeting addressed key issues such as class formation and the perimeter of restructuring plans, the treatment of public credit in insolvency proceedings, valuation in viability plans and the role of professionals in insolvency processes. Also analysed were issues of growing relevance, such as the sale of production units as a solution to insolvency, and…
The National Company Law Tribunal (NCLT), Mumbai Bench-I, has admitted a petition filed by Canara Bank to initiate the Corporate Insolvency Resolution Process (CIRP) against Syska E-Retails LLP. The order was delivered on 17 June 2025, by Member (Technical) Prabhat Kumar and Member (Judicial) Justice V.G. Bisht (Retd). The NCLT has appointed Mr. Vijay Pitamber…
Perth tipped to have second-lowest rate of business failures The West Australian Read the original article here
On the same day as the voluntary liquidation, a video was taken of one of the company’s skidders being tipped over a cliff next to the Waiau River in northern Hawke’s Bay near Cricklewood Rd. The video, shared online by an anonymous person, shows a Cat skidder tumbling down the bank and includes the caption…
NCLAT Allows Admission of Insolvency Proceedings Against Personal Guarantor: Debt and Default Established Through NeSL Records Taxscan Read the original article here
FirstCry subsidiary GlobalBees faces Rs 64.9 crore insolvency plea The Morning Context Read the original article here
Dancewear store liquidation puts full stock up for sale TheBusinessDesk.com Read the original article here
More than 2,000 companies entered insolvency in England and Wales in May, data shows Insider Media Ltd Read the original article here
Suspended HDIL director Rakesh Kumar Wadhawan has strongly opposed the admission of a ₹1,709.69 crore claim by Suraksha Asset Reconstruction Company (ARC) in the company’s insolvency process, calling it unlawful and alleging fraud. In a letter dated June 1 to Resolution Professional (RP) Abhay Manudhane, Wadhawan demanded immediate revocation of the claim and threatened legal…