If Rights Under Debenture Deed Are Transferred Without Prior Approval From Holders, Liabilities Of Corporate Debtor Remain Undischarged: NCLAT

Liquidation

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that when a debenture deed mandates prior approval of the Debenture Trustee for any transfer of rights or liabilities, any such transfer made through an Acquisition…

Korean Biotech Firms Struggle as Drug Trials Fail, Triggering Liquidations and Layoffs

Liquidation

According to the pharmaceutical and biotechnology industry on the 17th, drug research and development company OsteoNeuroGen is set to hold an extraordinary shareholders’ meeting on the 25th to propose the company’s dissolution. (Image from OsteoNeuroGen webpage) SEOUL, June 18 (Korea Bizwire) — A string of clinical trial failures is putting severe financial strain on South…

What’s Going On Bw GlobalBees & Kuber Industries?

Liquidation

Insolvency tremors have hit yet another player in India’s startup ecosystem. This time, it’s GlobalBees—the high-profile, Thrasio-style startup known for acquiring and scaling D2C brands. Surprisingly, the blow hasn’t come from a disgruntled vendor or market pressures, but from within its own investment circle. Kuber Mart Industries, a company that GlobalBees had backed with ₹50…

Brutal text sent to staff as company collapses

Liquidation

About 140 people across Australia have been immediately sacked following the sudden collapse of Australia’s largest distributor of second-hand office furniture. Staff at furniture company Egans received a text message on Friday morning telling them to attend a compulsory all-staff meeting, where they were told they no longer had jobs. “Notice of important company announcement,”…

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Liquidation

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