The National Company Law Tribunal (NCLT), New Delhi, has approved the Rs 41.26-crore resolution plan submitted by The Statesman Limited for the debt-ridden United News of India, or UNI. The plan, which received 100% voting approval from the Committee of Creditors (CoC), aims to revive the second-largest news agency in the country. Background The Corporate Insolvency Resolution Process…
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The Insolvency and Bankruptcy Board of India (“IBBI”) has recently notified several key amendments[1] in the CIRP Regulations[2], which aim to further streamline CIRPs[3] with special focus on real estate (RE) projects. These amendments give a formal effect to the recommendations/ suggestions that were proposed in the IBBI’s discussion paper, dated November 7, 2024, with…
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The Australian Workers’ Union is outraged by the sudden announcement that Oceania Glass will terminate approx. 40 workers as early as tomorrow, with administrators moving to liquidate the business while leaving employees without their rightful entitlements. In a stunning display of corporate callousness, administrators have blindsided AWU members who now face the prospect of months…
Boss who moved £700k from failing firms into casino account jailed Lancs Live Read the original article here
MP calls Walleys Quarry liquidation ‘cowardice’ Materials Recycling World Read the original article here
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Wedding venue in North Wales goes into liquidation North Wales Live Read the original article here
The company behind a popular Isle of Wight hotel, which entered liquidation last week, owes more than £1 million to creditors. Solent View Hotels LTD (SVH), which runs the George Hotel, Yarmouth initiated insolvency proceedings last week, as previously reported by the County Press. A staff member said the hotel remains open for business. SVH’s director is Howard Spooner who was…