Company director – Breach of duty – Solicitor — Dishonest assistance – Defendant firm of solicitors instructed by claimant company to act in relation to series of property transactions – Claimant bringing proceedings against defendant in respect of funds passing through defendant’s client account – Whether defendant through partner in firm dishonestly assisted breaches of…
The Supreme Court on Friday overturned its earlier decision ordering liquidation of Bhushan Power and Steel (BPSL), restoring approval to JSW Steel’s Rs 19,700-crore resolution plan. The bench headed by Chief Justice BR Gavai, along with Justices SC Sharma and K Vinod Chandran, stressed that the commercial wisdom of creditors must be given primacy and…
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In a boost to corporate resolutions under the Insolvency and Bankruptcy Code (IBC), the Supreme Court on Friday (September 26) approved Sajjan Jindal-led JSW Steel’s $2.3 billion acquisition of Bhushan Power and Steel (BPSL), reversing its earlier rejection of the deal. The court also dismissed creditors’ demand for an additional ₹6,100 crore, clearing the way…
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Paris – The Paris Commercial Court kept the French subsidiary of low-cost jewellery retailer Claire’s in receivership on Thursday. This decision followed the submission of a takeover bid from three companies, which was deemed “very minimalist” by lawyers for the staff representatives. The court opened receivership proceedings for Claire’s France at the end of July.…
The Supreme Court observed that the conduct of former promoter Sanjay Singhal and others showed an attempt “to prevent the Corporate Insolvency Resolution Process from reaching its logical end.” The Supreme Court on Friday overturned its May 2 order directing the liquidation of Bhushan Power and Steel Ltd (BPSL) and upheld JSW Steel Ltd’s ₹19,700…
REVEALED: Latest business liquidations in Logan The Courier Mail Read the original article here