Auckland-based food company LI Creamery Limited, formerly known as Little Island Limited, has been placed into liquidation. Following a special resolution passed by its shareholders, the decision was made under section 241(2)(a) of the Companies Act 1993, taking effect from 9.00 am on the 13th of June 2025. Chartered accountants and licensed insolvency practitioners Raymond…
As we close out the 2024–25 financial year, now is the perfect time to go beyond the numbers and take a broader view of your clients’ financial health. Over the past 12 months, we’ve seen a clear shift in the insolvency and restructuring landscape—one that you need to keep front of mind heading into 2025–26.…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) held that the National Company Law Tribunal can’t compel the corporate debtor to retain the same liquidator once a valid board resolution has been passed for their replacement…
Introduction In a judgment that may well redefine the contours of finality in insolvency resolution under India’s insolvency regime, the Supreme Court, in Kalyani Transco v. Bhushan Power and Steel Ltd.1, directed the liquidation of a corporate debtor more than five years after its resolution plan had been approved and implemented. The decision not only…
PHAXIAM Therapeutics Announces Judicial Liquidation and Delisting Business Wire Read the original article here
A failed multimillion-dollar trucking company – and the workers left without wages Stuff Read the original article here
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT), has rejected an appeal filed by Aditya Bhatnagar, former promoter and shareholder of Xyron Technologies Ltd., challenging the admission of a Section 7 insolvency petition against the company by the National Company Law Tribunal (NCLT). In a detailed order dated May 30, 2025, the…
In January 2020, the creditors chose to authorise the liquidator to execute a deed of assignment and indemnity under s 477(2B) of the Corporations Act 2001 (Cth) (Act). The director proposed that Eguana initiate proceedings against KNM Process System Sdn Bhd (KNMPS), previously Eguana’s sole shareholder, to recover Eguana’s debts to its creditors. In May…
The meeting addressed key issues such as class formation and the perimeter of restructuring plans, the treatment of public credit in insolvency proceedings, valuation in viability plans and the role of professionals in insolvency processes. Also analysed were issues of growing relevance, such as the sale of production units as a solution to insolvency, and…
The National Company Law Tribunal (NCLT), Mumbai Bench-I, has admitted a petition filed by Canara Bank to initiate the Corporate Insolvency Resolution Process (CIRP) against Syska E-Retails LLP. The order was delivered on 17 June 2025, by Member (Technical) Prabhat Kumar and Member (Judicial) Justice V.G. Bisht (Retd). The NCLT has appointed Mr. Vijay Pitamber…