The NCLAT Chennai bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Ajai Das Mehrotra (Technical Member) has held that pre-CIRP dues cannot be recovered once the corporate debtor is admitted into insolvency due to moratorium under section 14 of the code. Any amount due to the corporate debtor can be recovered by filing…
Deewin Tianxia Announces Subsidiary Liquidation and Merger TipRanks Read the original article here
Chancellor Rachel Reeves has announced the autumn budget for 2024. Commenting on the announcements James Burgess, Head of Commercial and insolvency expert at Atradius said “Today’s Autumn Budget could be a game-changer for businesses across the UK, marking a pivotal moment for the economy. With Labour’s proposals set to impact retail, hospitality, and leisure businesses,…
No Proceedings Against Corporate Debtor Can Be Initiated Or Continued Over Claim Which Is Not Part Of… Live Law – Indian Legal News Read the original article here
The National Company Law Appellate Tribunal, New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member), Naresh Salecha (Technical Member) and Mr Indevar Pandey (Member) held a liquidator cannot not create sub-leases over public land without adhering to the statutory requirements. It was further held that Section 238 of the Insolvency and Bankruptcy Code, 2016…
The share application money was given for the allotment of shares but neither were shares allotted nor was money refunded The New Delhi bench of National Company Law Appellate Tribunal ( NCLAT) has held that share application money deposited with the corporate debtor cannot be treated as financial debt under section 5(8) of the IBC.…
Galena Mining’s Abra Mine Under Voluntary Administration TipRanks Read the original article here
Director who sold the shipping containers he hired owes liquidators $600k Stuff Read the original article here
Tradies owed thousands of dollars following the collapse of the country’s largest rooftop solar company are worried they’ll never get the money they’re owed. SolarZero was placed into surprise liquidation last week, with owner US investment giant BlackRock blaming “unsustainable losses”. Close to 200 workers are owed millions in holiday and redundancy packages. Iain McIsaac,…
London | ArcelorMittal will send in administrators to investigate what happened inside industrialist Sanjeev Gupta’s European metals empire after winning a British court case over a €140 million ($225 million) debt. Liberty Steel East Europe (Holdco) – a holding company for a cluster of entities controlling six of Mr Gupta’s eight continental European steelworks –…