KFC rival nears Chapter 7 bankruptcy, closes stores, liquidation looms – MSN
KFC rival nears Chapter 7 bankruptcy, closes stores, liquidation looms MSN Read the original article here
BluSmart Enters Insolvency Amid Corporate Governance Crisis, ETInfra
BluSmart suspended operations in April after India’s market regulator barred co-founder Anmol Jaggi from the securities market. Indian electric cab firm BluSmart has entered insolvency, an order from a company law tribunal showed, amid mounting corporate governance issues after a regulatory probe alleged its co-founder diverted funds meant for vehicle leases. BluSmart suspended operations in…
Blusmart Follows Gensol Group Firms Into Insolvency After ₹1.28 Cr Default
(MENAFN– Live Mint) The wheels have come off the fraud-hit BluSmart Mobility, once hailed as a pioneer in India’s electric ride-hailing startup, as the company has been formally admitted into insolvency by the National Company Law Tribunal (NCLT) in Ahmedabad. The move follows payment defaults totalling over ₹1.28 crore and adds BluSmart to a growing…
Catalyst Trusteeship Vs BluSmart
The National Company Law Tribunal (NCLT) at Ahmedabad has admitted BluSmart Mobility Limited into the Corporate Insolvency Resolution Process (CIRP) following a petition by Catalyst Trusteeship Limited over unpaid financial obligations totalling ₹1.3 crore. Read the original article here
Singapore’s insolvency and restructuring developments
Singapore’s omnibus Insolvency, Restructuring and Dissolution Act, 2018 (IRDA), came into effect on 30 July 2020 and amalgamated its corporate and personal insolvency processes, which were previously in separate statutes. The IRDA also incorporated the UNCITRAL Model Law on Cross-Border Insolvency (Model Law) into Singapore law. The IRDA, together with the lingering effects of disruptions…
Beloved 159-year-old Home Depot rival closing, liquidating – TheStreet
Beloved 159-year-old Home Depot rival closing, liquidating TheStreet Read the original article here
Killarney Brewing & Distilling Enters Liquidation – The Whiskey Wash
Killarney Brewing & Distilling Enters Liquidation The Whiskey Wash Read the original article here
Official receiver may step in as council care provider NRS Healthcare nears collapse | Money News
A private equity-backed provider of care services to vulnerable patients across England is on the brink of insolvency, prompting Whitehall officials to draw up contingency plans for its collapse. Sky News has learnt that NRS Healthcare, also known as Nottingham Rehab, is close to falling into compulsory liquidation after efforts to find a buyer were…
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Pakistan Hotels Developers Ltd. initiates winding-up process, aims to complete by December 2025
Pakistan Hotels Developers Limited (PHDL) has issued an official notification addressing shareholder concerns regarding the company’s ongoing winding-up process. The liquidation process, which began on December 31, 2024, follows the approval of a Special Resolution passed in the company’s General Meeting. As per the Companies Act, 2017, PHDL aims to complete its winding-up proceedings by…