Singapore private club 1880 suddenly closes under layers of debt; founders accused of holidaying in the past month

[SINGAPORE] Private members’ club 1880 suddenly announced its permanent closure effective Tuesday (Jun 17), with its holding company 38 Degrees and operating company 1880 Pte Ltd placed into provisional liquidation. This follows the abrupt closure of its Hong Kong branch on May 30. It was also building a six-storey beachside hotel in Bali that never…

Christchurch cafe goes into liquidation

The owners of Christchurch’s London Canteen have let their customers know with “heavy hearts” the cafe at Oderings Garden Centre in Barrington has gone into liquidation. The canteen is under the company Table Bloom with directors listed as Simon Suffolk and Jisuk (Julie) Han who are shareholders with Edmund Tanner. Christchurch liquidator Brenton John Hunt…

NCLT approves Rs 67-crore resolution plan for Trident Sugars

The National Company Law Tribunal (NCLT), Hyderabad Bench-I, has approved the Rs 67 crore resolution plan submitted by Delta Sourcing for Trident Sugars Limited (Corporate Debtor). The plan had received unanimous approval with 100% voting share from the Committee of Creditors (CoC). Approved Resolution Plan Details: Successful Resolution Applicant (SRA): Delta Sourcing, a proprietorship firm…

Application U/S 7 Of IBC Can Be Admitted In Absence Of NeSL Certificate If Loan Disbursal & Default Are Proved By Other Documents: NCLT Mumbai

The National Company Law Tribunal (NCLT) Mumbai bench of Justice V.G Bisht, (Retd). and Prabhat Kumar (Technical Member ) has held that even in the absence of a NeSL certificate, an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 can be admitted if the disbursal of the loan amount and occurrence of…