Shardul Amarchand Mangaldas advised the committee of creditors, including Axis Bank, State Bank of India and others, in the corporate insolvency resolution process of Educomp Infrastructure and School Management. JC Flowers Asset Reconstruction, Punjab National Bank, Karnataka Bank, Union Bank of India and Bank of India also also among the committee of creditors. Partner Jatin…
Future Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of Rs 2,117.03 crore and claims worth Rs 38.5 crore are “under verification”, said…
Future Lifestyle Insolvency: RP receives claims of Rs 2,155.53 crore from financial creditors Future Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of…
The JCT is due to release a new suite of contracts within the year ahead. Aside from the homeowners building contracts released in 2021, this will be the first new suite since 2016. The new contract suite is expected to address several issues that have arisen over the last seven years, including insolvency a particular…
EXCLUSIVE: High-profile construction company suddenly collapses – as Melissa Caddick link to the firm is revealed Midson Construction (Qld) goes into voluntary administration Jones Partners principal appointed voluntary liquidator Bruce Gleeson also liquidated Caddick’s companies By Kylie Stevens and Eliza Mcphee For Daily Mail Australia Published: 16:12 AEST, 2 June 2023 | Updated: 16:45 AEST,…
The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (Cth) (the Act) came into force on 18 February 2020. The purpose of the Act is to: combat illegal phoenix activity; and improve the accountability of resigning directors. Three years since the Act came into force, we revisit the changes to see what impact they have…
Source: Coco Tribe A premium coconut yoghurt brand stocked in hundreds of grocery stores across the country has collapsed into voluntary administration. Coco Tribe was founded in 2016 by entrepreneur Tedy Altree-Williams to provide dairy-free coconut-based yoghurt and ice-cream products. Its brightly coloured range of six plant-based yoghurt flavours and eight ice cream varieties are…
A Book titled, Corporate Insolvency Resolution Process and Liquidation under the Insolvency and Bankruptcy Code, 2016, authored by Justice L. Nageswara Rao, Former Judge, Supreme Court of India and Mr. Avinash Krishnan Ravi, Advocate (Madras High Court) and published by Lexis Nexis, was formally released by Justice Rohinton F. Nariman, Former Judge, Supreme Court of…
VIC Premier The Victorian Government has appointed Judge Ted Woodward to the Supreme Court of Victoria, commencing 5 June 2023. Judge Woodward will also serve as President of the Victorian Civil and Administrative Tribunal (VCAT), with his five year term to start from 1 July 2023. He was appointed as a Judge of the County…
Chris Ferguson Businesses from across the region could still be impacted by a number of recent economic headwinds, including rising interest rates, according to the North East chair of insolvency and restructuring trade body R3, despite a drop in the number of insolvency related activities. The latest Insolvency Service statistics unveiled a month-on-month drop of…