Mumbai: Several strategic buyers as well as investors are actively scouting for cement manufacturing companies which are currently undergoing the corporate insolvency resolution process under the Insolvency & Bankruptcy Code.One of the most sought-after assets in the sector is the cement business of debt-laden Jaiprakash Associates Ltd (JAL). The company has four plants in North…
AMSC CFO Morten Bakke steps down ahead of liquidation TradeWinds Read the original article here
The European Commission’s latest proposals to take forward the Capital Markets Union (CMU) action plan contain a long-awaited deliverable from the plan — an attempt to harmonise insolvency practices across the Union — as well as continuing efforts to make it easier to raise capital on EU public markets. Other proposals were not in the original action plan but address issues…
The Supreme Court on Tuesday (April 29) upheld the delivery of a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) to the corporate debtor’s Key Managerial Personnel (KMP), stating that the delivery of the notice to the KMP substantially complies with the requirement of Section 8 of IBC. Setting aside…
Another beloved brewery goes bust and files for Chapter 7 liquidation MSN Read the original article here
Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds, said: “The slight month-on-month reduction in corporate insolvency numbers…
The beneficiaries include law firm McCann Fitzgerald, financial services firm Grant Thornton and the liquidator Damien Harper. The wind-up of Quinn Insurance, which was once owned by ex-billionaire businessman Seán Quinn, was ordered by the High Court in 2023. It had been placed into administration by the government in 2010 at a cost of €1bn…
Vinyl Me, Please (VMP) appears to have entered liquidation as reports of the company ignoring customers and not fulfilling paid-for orders pile up. A new report by the Denver Post details several customers who’ve filed complaints against the Denver-based vinyl record subscription service for allegedly not sending out paid orders, ignoring inquires and requests for…
Bluejay Limited, the parent company behind Betway Kenya, will be required to pay about KSh 5 billion in outstanding taxes after the Tax Tribunal upheld various assessments by the Kenya Revenue Authority (KRA). The order comes at a time when the company has filed a petition for liquidation at the Milimani Law Courts Commercial and…
Patchwork Foods in Ruthin was founded in 1982 by Margaret Carter in her kitchen, and went on to become famous for pates and other specialities. An award-winning business for much of its four decades of trading, Margaret, son Rufus and business partner Jen Whitham helped it achieve a £2 million annual turnover. The trio left the business as…