By enabling concurrent invitations, the resolution process will see reduced timelines, prevent value erosion in viable segments, and encourage broader investor participation, IBBI said. | Photo Credit: Image by rawpixel.com on Freepik The Insolvency & Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)…
The National Company Law Tribunal (NCLT), New Delhi bench of Shri Mahendra Khandelwal (Judicial Member) and Shri Atul Chaturvedi (Technical Member) held that when the lease amount is unpaid by the Corporate Debtor it amounts to Operational Debt under the Insolvency & Bankruptcy Code, 2016 (“the Code”). Background Facts: M/s Unified Credit Solutions Private Limited…
Canada’s Hudson’s Bay retail chain to terminate more than 8,300 workers by Sunday Reuters Read the original article here
The Supreme Court recently issued notice on an appeal challenging the National Company Law Appellate Tribunal (NCLAT) judgment holding that the application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) of Think and Learn Pvt Ltd (trade name Byju’s) needed approval from 90 percent of the Committee of Creditors. A bench of Justice Vikram…
Open this photo in gallery: Heavily discounted merchandise, part of the Bay’s final liquidation sales, signals the end is near for Canada’s oldest retailer.Nathan Denette/The Canadian Press As a voice crackled over the loudspeaker at the Hudson’s Bay store in Sherway Gardens mall on Friday, the message was not simply about discounts; it was also…
The National Company Law Tribunal Bench of Shri Mahendra Khandelwal (Judicial Member) and Shri Atul Chaturvedi (Technical Member) dismissed a Section 10 application filed under the Insolvency & Bankruptcy Code, 2016 (“the code”) holding that the Corporate Applicant cannot take the shield of CIRP to avoid the legally recoverable government dues. Background Facts: M/s Imperial…
SDAI Limited Reports No New Developments in Subsidiary Liquidation TipRanks Read the original article here
The Insolvency and Bankruptcy Board of India (IBBI) has introduced significant changes to the corporate insolvency framework by notifying the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2025. The amendment regulations, which came into effect on May 26, aim to streamline the insolvency resolution process and enhance…
Glastonbury ticket holders have been left thousands of pounds out of pocket after a luxury glamping company went bust. Festival-goers who booked their tickets and accommodation with Yurtel have been told the company can no longer fulfil its orders and has ceased trading with immediate effect. Money: Read all the latest news here Some had…
By Kingsley Webora TANKEH Chief Executive Officer-Ghana Investment Promotion Centre (GIPC), Simon Madjie, has urged Ghanaian businesses to seek restructuring and insolvency services in times of temporary financial difficulty to avert liquidation. “I want to strongly urge SMEs, state-owned enterprises and even large corporations to seek restructuring support at the first sign of distress and…