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, 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…
Ourgame Issues First Liquidation Report as Share Trading Remains Suspended TipRanks Read the original article here
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…
British kitchen brand shuts down ‘with immediate effect’ after two decades The Sun Read the original article here
Founded in 1975, IFFCO operates brands including London Dairy ice cream, Tiffany, Alfa, Allegro, and has a presence in around 50 countries. Its business spans food, packaging, chemicals and logistics. The company traces its origins to India’s Allana Group, an agricultural commodities trader established in 1865. Read the original article here
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…
REVEALED: Latest business liquidations in Melton Herald Sun Read the original article here
For many homebuyers, the Jaypee story has stretched across more than a decade. Bookings were made and transactions completed, but construction was halted midway. That stalled reality is what eventually pushed Jayprakash Associates Ltd (JAL), the flagship company of the Jaypee Group, into insolvency in June 2024 after defaulting on loans, triggering proceedings under the…
Kaboodle Ltd, founded in 2005, announced that insolvency specialists BRI Business Recovery and Insolvency have been appointed to enable the company’s voluntary liquidation. The kitchen brand offered home appliance supply and installation services for retailers and manufacturers across five depots. Since opening more than two decades ago, Kaboodle opened facilities in Highbridge, Basingstoke, Stevenage, Telford…