Corporate Veil Can Be Lifted if Associated Companies Are Inextricably Connected: SC Restores Resolution Plans for Stalled Projects

The Supreme Court of India has set aside a judgment of the National Company Law Appellate Tribunal (NCLAT) and restored the resolution plans for stalled real estate projects of Earth Infrastructures Limited (EIL). In a significant ruling, the Court applied the doctrine of “piercing the corporate veil” to hold that the assets of subsidiary companies…

Adwoa Beauty faces liquidation after bankruptcy filing

Adwoa Beauty, the prestige textured hair care brand, is set to enter liquidation after filing for bankruptcy. A US judge has ruled that Adwoa Beauty’s Chapter 11 bankruptcy protection be converted to Chapter 7. Chapter 11 allows for negotiations between a business and its creditors to continue operating and find a viable path forward. Adwoa…

The hidden cost of business rescue: How zombie companies form

Stephen Grootes speaks to Gareth Cremen, a partner in Cox Yeats’ Business Restructuring, Rescue & Insolvency team, about South Africa’s business rescue framework and how companies end up relying on state funding without any prospect of financial improvement. Listen to the full interview in the audio player above. Business rescue & zombie companies Cremen explains…

5 airlines plunge into administration or liquidation as flights cancelled – full list | World | News

A passenger jet (Image: Getty) Five airlines have suffered financial difficulty, leaving holidaymakers facing cancelled holidays and flights. The vast majority of carriers used by British travellers – including British Airways, easyJet, Jet2, Ryanair, Virgin Atlantic and Wizz Air – remain financially stable. However, some airlines have been slashing services while others have pushed up…