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COURT BATTLE OVER REACON BUSINESSES

By Wayne Robinson | 16 April 2025 Vik Gulati, owner of south-west Sydney based Westmann Printing, has bought the beleaguered Reacon Group, as its print operation Reacon Australia and sister company mmw3degrees are in administration. Bought Reacon Group: Vik Gulati, Westmann Printing Gulati became a director of Reacon Group on Monday, when previous owners Jahinger…

NCLT Allows Second Challenge Round In Frost International Insolvency To Maximise Value For Creditors

NCLT Allows Second Challenge Round In Frost International Insolvency To Maximise Value For Creditors | Representational Image In connection with the ongoing insolvency proceedings of Frost International Limited(FIL), the National Company Law Tribunal (NCLT), Mumbai Bench, has permitted the Committee of Creditors (CoC) to conduct a second challenge mechanism for selecting a resolution plan, paving…

Section 347(5) Of The Companies Act, 1973 Prohibits A Court From Granting A Winding Up Order If Another Court Has Already Granted A Provisional Winding Up Order – Corporate and Company Law

In a recent judgment, the Supreme Court of Appeal (“SCA“) considered whether an appellate court can grant a final winding-up order in a proceeding against a company, where another court has already granted a provisional order against the same company. The appeal was brought by by Resilient Rock (Pty) Ltd (“Resilient“) against Voltex (Pty) Ltd…