(Bloomberg/Steven Church) — The owner of former job recruitment sites CareerBuilder and Monster, which blamed artificial intelligence for their demise, won court approval to end a liquidation case by paying lenders and other creditors less than 10% of what they are owed. Under the bankruptcy payout plan, noteholders and lenders owed nearly $363 million will…
Tough economic times and rising costs have culminated in the “difficult decision” to place a Dunedin kebab restaurant into liquidation. Anatolia Turkish Kebab House has ceased trading, as its operating company, Anatolia Turkish Cafe Ltd, was placed into liquidation by shareholder resolution last week. The company operated the Turkish restaurant and takeaways business in Princes…
Nigeria’s top judges, lawyers, and insolvency experts are calling for a paradigm shift in the nation’s insolvency ecosystem — from punitive liquidation practices to proactive business rescue and restructuring — as economic turbulence continues to strain companies across sectors. At the 2025 Annual International Insolvency Conference of the Business Recovery and Insolvency Practitioners Association of…
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The decision in Kwale International Sugar Company Limited v Epco Builders Limited and Two Others [2025] KECA 227 (KLR) reinforces the principle that insolvency proceedings must be reserved for clear cases of inability to pay and cannot be used as leverage in unsettled construction disputes. It also clarifies the boundaries between private dispute resolution mechanisms and…
The National Company Law Tribunal, Mumbai Bench-I (NCLT) recently approved a resolution plan worth ₹3.4 crore submitted by M/s Priyam Projects (I) Pvt. Ltd. for the corporate debtor M/s Steadfast Shipping Pvt. Ltd. (Steadfast Shipping) – a ship leasing company. The Tribunal approved the resolution plan after noting that the plan had secured 100 percent…
Actor Salman Khan has withdrawn his insolvency appeal against gym equipment manufacturer Jerai Fitness Limited before the National Company Law Appellate Tribunal (NCLAT), following a settlement between the parties. [Salman Khan v. Jerai Fitness] On October 6, Khan’s counsel informed the Appellate Tribunal that consent terms had been executed. The coram of Chairperson Justice Ashok…
The National Company Law Tribunal (NCLT) has approved KGS Sugar & Infra Corporation’s acquisition by edible oil and spirit maker Grainotch Industries Ltd. Nashik-based KGS Sugar Infra Corporation has admitted liabilities of Rs 556 crore. The company was admitted under the corporate insolvency resolution process (CIRP) in October 2019 on an application filed by Canara…
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New liquidation for developer with $100m-plus in company debts ThePost.co.nz Read the original article here