Universal Biosensors (ASX:UBI) Remains Suspended Following Administration of Operating Business

Highlights Universal Biosensors (ASX:UBI) remains suspended from Quotation following financial challenges involving its operating subsidiary. The suspension relates to administration and financial condition concerns rather than unpaid listing fees. The company’s operating Subsidiary entered voluntary administration and later liquidation. Investors are monitoring Liquidation progress, potential asset outcomes and the company’s ASX…

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Crisis averted but home developer still on life support

ADMINISTRATORS for a major housing developer have met a crucial funding deadline but negotiations to keep the group afloat remain ongoing.  Insolvency advisory Teneo has been scrambling to secure $20 million in short-term funding for the embattled Bathla Group since it entered voluntary administration in late August. As administrator, Teneo set a deadline of Thursday…

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IBBI Guidelines: Faster IP Appointments: Rediff Moneynews

IBBI issues new guidelines for faster appointment of insolvency professionals in corporate insolvency cases. Learn about the new norms and eligibility. New Delhi, May 19 (PTI) IBBI has issued fresh guidelines for the empanelment of insolvency professionals to enable quick appointments in corporate insolvency and bankruptcy cases. These guidelines provide the procedure for preparing a…

ED Searches: ED Conducts Raids at 17 Locations in Corporate Insolvency Case, ETLegalWorld

ED searches at 17 locations in corporate insolvency process case Mumbai, The Enforcement Directorate on Tuesday conducted searches in Maharashtra and Delhi as part of a money laundering investigation into alleged irregularities related to a corporate insolvency resolution process, officials said. They said a total of 17 locations related to Suraksha Asset Reconstruction Company Ltd…