Peter Stevens Motorcycles Enters Voluntary Administration

Iconic Australian retailer faces uncertain future, with up to 400 jobs hang in the balance In a major disruption to the Australian motorcycle industry, retail trailblazer Peter Stevens Motorcycles has entered voluntary administration today, casting serious doubt over the future of one of the country’s most storied and recognised motorcycle dealership groups. Founded in 1970…

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Interim Resolution Professional Is Empowered To Take Possession Of Assets Owned By Corporate Debtor: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that Interim Resolution Professional (IRP) is well within his authority under Section 18(1)(f) of the Insolvency and Bankruptcy Code, 2016 (Code) to take possession of assets…