Beulah launches rescue mission for $2bn Southbank tower – The Australian
Beulah launches rescue mission for $2bn Southbank tower The Australian Read the original article here
IBBI To Simplify Corporate Insolvency Process
Insolvency board IBBI issued a discussion paper to provide clarity on various operational aspects including those related to coordinated resolution of interconnected entities and streamlining of submission of resolution plans. The paper proposes several amendments to address operational challenges in the resolution framework. The IBBI has invited public comments on the discussion paper till February…
Supreme Court Upholds Regulatory Compliance in Insolvency Proceedings
The recent Supreme Court ruling in Independent Sugar Corporation Ltd. (INSCO) v. Girish Sriram Juneja & Ors. has been hailed as a landmark judgment, fundamentally reshaping how insolvency and competition laws intersect in India. The verdict underscores the judiciary’s commitment to statutory compliance, reinforcing the principle that regulatory approvals must precede the approval of resolution…
IBBI To Simplify Corporate Insolvency Process
Insolvency board IBBI issued a discussion paper to provide clarity on various operational aspects including those related to coordinated resolution of interconnected entities and streamlining of submission of resolution plans. The paper proposes several amendments to address operational challenges in the resolution framework. The IBBI has invited public comments on the discussion paper till February…
JSW’s KSK Mahanadi bid gets NCLT nod
NEW DELHI: The Hyderabad bench of the National Company Law Tribunal (NCLT) on Thursday approved the Rs 16,084 crore resolution plan submitted by JSW Energy Limited for KSK Mahanadi Power Company Limited, a Chhattisgarh-based thermal power company. The corporate insolvency resolution process against KSK Mahanadi Power Company Limited was initiated by Power Finance Corporation Limited…
PICTURES: Bargain showroom doors and windows on offer in Irish company’s liquidation auction today – Page 1 of 33
Irish homeowners considering, or dreaming, of a makeover are on alert with a huge liquidation auction of a major Irish window and doors company… Read the original article here
IBC sees a shift: Corporate resolutions rise, liquidations decline
Insolvency regulator IBBI has highlighted a welcome trend of more companies being “resolved” under Insolvency and Bankruptcy Code (IBC) and the number of liquidations going down in recent years. There is a consistent upward trend in corporate resolutions and a significant downward shift in the number of liquidations, starting from 2020-21, IBBI Chairman Ravi Mital said…
Scandal-hit Indonesian start-up eFishery cuts about 90% of jobs as potential liquidation looms
SINGAPORE – Once Indonesia’s start-up darling, eFishery is eliminating more than 1,000 jobs, or about 90 per cent of the workforce as the agritech firm, hit by fraud allegations, weighs a potential liquidation. The cuts began recently and more reductions are set to follow, people familiar with the matter said, asking not to be identified…
IBBI introduces key amendments to enhance liquidation process efficiency and transparency, ET LegalWorld
Highlights The Insolvency and Bankruptcy Board of India has implemented amendments to enhance the efficiency, transparency, and integrity of the Liquidation and Voluntary Liquidation processes, which include changes to auction timelines and stricter eligibility verification for bidders. Mandatory filing of a final report by liquidators when a scheme of compromise or arrangement is approved has…
NCLT nod to JSW’s Rs 16,000cr bid for KSK Mahanadi Power
The Hyderabad bench of the National Company Law Tribunal (NCLT) has officially approved the Rs 16,084-crore resolution plan proposed by JSW Energy Limited for the acquisition of KSK Mahanadi Power Company Limited, a Chhattisgarh-based thermal power producer. This significant development marks a crucial step in resolving the financial distress faced by the company. The corporate…