Ram Logistics owed $3.2m to IRD when it entered liquidation – Business Desk NZ
Ram Logistics owed $3.2m to IRD when it entered liquidation Business Desk NZ Read the original article here
Rams Logistics owed $3.2m to IRD when it entered liquidation – Business Desk NZ
Rams Logistics owed $3.2m to IRD when it entered liquidation Business Desk NZ Read the original article here
Canadian Lion Electric is on the brink of liquidation following Quebec’s withdrawal of financial support – Sustainable Bus
Canadian Lion Electric is on the brink of liquidation following Quebec’s withdrawal of financial support Sustainable Bus Read the original article here
Nazara Technologies Get NCLT Nod For Accquisition Of Smaaash Entertainment
Nazara Technologies Ltd. reported receiving approval from the National Company Law Tribunal for its resolution plan to acquire Smaaash Entertainment Pvt. on Wednesday. Smaaash Entertainment is undergoing a corporate insolvency resolution process. The process first began in 2022, due to a default of payment of Rs 292.4 crore to Edelweiss Asset Reconstruction Co. To manage Smaaash…
HBC reinstates commission pay amid non-corporate layoffs
Dwayne Gunness, president of Unifor Local 40 — which represents 40 beauty advisers — confirmed the layoffs, reports Radio-Canada. And HBC won’t be providing termination pay to workers being laid off, according to one worker. “I’m having a really hard time accepting the fact that we don’t get severance,” says Hazel Harris, one of the…
Hudson’s Bay starts liquidating Saks Fifth Avenue stores in Canada
The furniture and display cases that speckle Saks Fifth Avenue stores in Canada are up for sale. Advertisements at its downtown Toronto store show the company has begun looking for buyers for its fixtures. A 24-page document that it is offering prospective buyers shows at least $150,000 worth of inventory. Items include mannequins, tables, clothing…
Thousands Protest Against Supreme Court’s BPSL Liquidation Order Amid Fears Of Livelihood Loss
Bhubaneswar: Over 3,000 people staged a protest on Wednesday afternoon at the Bhushan Power and Steel Ltd (BPSL) plant gate in Jharsuguda, voicing their anger and anxiety over the Supreme Court’s May 2 ruling ordering the liquidation of the company. The apex court, on April 2, rejected JSW Steel’s resolution plan for BPSL under the…
Nazara’s resolution plan to acquire Smaaash gets NCLT nod
The National Company Law Tribunal (NCLT) has approved gaming and media firm Nazara Technologies’ resolution plan to acquire Sachin Tendulkar-backed Smaaash Entertainment, which has been undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC).“We wish to inform you that the resolution plan submitted by the company for acquisition of Smaaash Entertainment Private Limited, a…
Liquidation likely for Lion Electric
A court-appointed administrator said that the company will very likely be liquidated following the provincial government’s refusal to invest further public money into the company, which would have been a condition of any sale of the struggling company. Jean-François Nadon, a restructuring specialist with Deloitte, said “the likelihood of a liquidation of assets is very…
Legal Framework, Process, and Challenges
Corporate liquidation, also known as winding up, is a formal process through which a company’s legal existence is brought to an end, whether due to insolvency, inability to pay debts, or a voluntary decision by its stakeholders (Insolvency and Bankruptcy Code, 2016) [1]. In India, the prominence of corporate liquidation has increased significantly following the…