The National Company Law Appellate Tribunal (NCLAT) has rejected an effort to initiate insolvency proceedings against PepsiCo India, siding with the food and beverage conglomerate in a dispute centered on contested interest payments. In a ruling issued Wednesday, the NCLAT dismissed an appeal by SNJ Synthetics Ltd., a supplier of PET preforms and thermoplastics, which…
By Wayne Robinson | 9 May 2025 Disgruntled Reacon company creditors CTRL Print and Printcraft have won the court battle to have Reacon Australia and mmw3degrees placed into liquidation. The Reacon companies have debts estimated to be around $9m. Reacon Group companies to be liquidated: Former CEO Jahingar Kahn The two businesses were part of…
With the approval of the Financial Supervision Authority, TBB Bank has begun voluntary termination of operations and liquidation proceedings. The company, which no longer holds a banking license, asserts that it has sufficient funds to meet all obligations to its clients. A notice published Friday revealed that AS TBB Bank received permission from the Financial…
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‘It was always a question of when, not if,’ David Ian Gray says of Hudson’s Bay Co.’s misfortunes As the fate of Hudson’s Bay Co. is decided in a liquidation process overseen by the courts, one retail expert says this moment was a long time coming. HBC’s misfortunes are tied to the company’s failure to be…
The Supreme Court of New South Wales awarded a personal costs order against voluntary administrators appointed on the afternoon before the hearing of an application to wind up CII Group Pty Ltd (In Liquidation) ACN 106 253 310 (CII) for applying to adjourn the hearing pursuant to section 440A(2) of the Corporations Act 2001 (Cth)…
The Supreme Court of New South Wales awarded a personal costs order against voluntary administrators appointed on the afternoon before the hearing of an application to wind up CII Group Pty Ltd (In Liquidation) ACN 106 253 310 (CII) for applying to adjourn the hearing pursuant to section 440A(2) of the Corporations Act 2001 (Cth)…
This article first appeared in the International Comparative Legal Guide – Restructuring & Insolvency 2025, which covers common issues in restructuring and insolvency, including issues that arise when a company is in financial difficulties, restructuring options, insolvency procedures, tax, employees and cross-border issues. 1. Overview 1.1 Where would you place your jurisdiction on the spectrum…
A popular women’s activewear business that is headquartered in Noosa has entered voluntary administration, with creditors claiming they are owed more than $640,000. Exotic Athletica Pty Ltd appointed administrators on April 9, a notice with the Australian Securities and Investments Commission states. The company operates the fashion label Exoticathletica, which according to its website was…