In an underperforming economy, China’s bankruptcy regime is following a steep trajectory to maturity and doomed businesses are making a revival. Sophia Luo reports ONCE REGARDED AS SOMETHING of a taboo, bankruptcy has now been generally accepted as an essential route for debt-ridden companies to deal with the burdens of the past, resolve debt overhang…
NCLAT Limits Insolvency to One Project Construction World Read the original article here
The tribunal held that the appellant being a shareholder of the company is not the “aggrieved party” as per the provisions of the Code The New Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that a shareholder of the company is not the “aggrieved party” as per the provisions of…
The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member) has held that making belated entries in the books of account to show that goods were misappropriated cannot escape the conclusion that the dispute raised by the corporate debtor was merely a moonshine just to avoid the liability.…
Jet Airways an erstwhile premium airline operating primarily in Indian air space has been suffering financial distress for almost a decade now. After being relegated to insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC), the Company and its lenders had finally seen some hope of being airborne again when a resolution plan was…
The family running Rocks Brewing has told The Crafty Pint they’re “devastated” after the business entered voluntary administration this week. The Sydney-based brewing company appointed insolvency solutions and business turnaround firm Jirsch Sutherland on October 29, with brewing operations and their Tap House continuing as usual for the time being. Rocks beers first appeared on tap…
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Majestic Cinemas enters voluntary administration, CEO vows to protect 80-year-old Art Deco Sawtell theatre MSN Read the original article here
The directors of SolarZero said in a statement: “This difficult decision follows work to explore a range of options to restructure the company. Regretfully, SolarZero and its key stakeholders were unable to find a viable solution to sustain the business. “This is a tough day for SolarZero teams, who have worked hard to build a…
Jack Miller rode for KTM in 2024. The motorcycle giant said it had financing requirements currently amounting to “a high three-digit million” sum. KTM is reportedly billions in debt, will temporarily cease production, and is facing further layoffs. KTM addressed its 5000 employees on Wednesday to announce the restructuring where CEO Stefan Pierer said the…