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‘A legacy’: Smiths City to be relaunched with new Kiwi owners

New Zealand retailer Smiths City will relaunch under new ownership after two self-described “Kiwi entrepreneurs” purchased the brand out of liquidation. The company, which went into voluntary administration in September last year before entering liquidation the following month, confirmed the sale in a joint statement with liquidators BDO Christchurch on Friday. NZ Companies Office records…

Fraudulent and Undervalued Transactions Render Resolution Plan Non‑Compliant: NCLT Orders Liquidation of APS Infra Engineers under IBC [Read Order]

The National Company Law Tribunal (NCLT), New Delhi Bench, has refused to approve the resolution plan for corporate debtor APS Infra Engineers Pvt. Ltd, holding that findings of fraudulent and undervalued transactions rendered the plan non‑compliant with the Insolvency and Bankruptcy Code (IBC), 2016. The insolvency proceedings were initiated in August 2024 on a petition…

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