Flintshire soap business’s debts could be written off

A handmade soap firm that collapsed owing almost £230,000 could have its outstanding business rate debt written off by a council. Flintshire-based Westminster Worldwide Trading went into liquidation in February last year with total debts of £229,408. Flintshire council’s cabinet will meet later to discuss whether it writes off the £67,250 it is owed by…

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ED raids 17 places into YES bank loan fraud in a corporate insolvency resolution process

NEW DELHI: The Enforcement Directorate (ED) on Tuesday raids 17 premises in Mumbai, Khandala and New Delhi as part of a money laundering investigation into alleged irregularities in a corporate insolvency resolution process, said the agency adding that an asset reconstruction company suspected of colluding with Yes Bank officials to fraudulently seize stressed assets. The…

NCLT Chandigarh Admits Kokila Mining Section 9 Petition, Rejects Set-Off Defence By Tycoons Industries

The Chandigarh Bench of the National Company Law Tribunal (NCLT) on 11 June admitted a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Kokila Mining Pvt. Ltd. and initiated the Corporate Insolvency Resolution Process against Tycoons Industries Pvt. Ltd.. Judicial Member Khetrabasi Biswal and Technical Member Shishir Agarwal appointed Neehal…

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Building control firm went into liquidation owing £1m

A registered building control approver (RBCA) went into liquidation last week owing more than £1m to creditors. Corporate Approved Inspectors Ltd (CAI) filed for voluntary liquidation on 9 June, hours after Construction News revealed it had told the Building Safety Regulator (BSR) that its operations could not continue. Papers published by insolvency specialists Campbell Crossley…