( July 16, 2025, 13:41 GMT | Official Statement) — MLex Summary: The UK’s Insolvency Service, which deals with bankruptcy issues, has put in place a new five-year enforcement strategy designed to tackle financial crime. The agency said today it would prosecute a wider range of offenses, increase enforcement against companies acting against the public interest,…
Singapore continues to develop its status as an upcoming international hub for debt restructuring. The nation-state updated and strengthened its restructuring and insolvency laws in recent years, primarily through enacting the omnibus Insolvency, Restructuring and Dissolution Act 2018 (IRDA) and incorporating the UNCITRAL Model Law on Cross-Border Insolvency (the Model Law) into Singapore law. The…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that GST dues arising from the Himachal Pradesh Goods and Services Tax Act (HPGST) and Central Goods and Services Tax (CGST) cannot be given precedence over…
By MAX ALDRED FOR DAILY MAIL AUSTRALIA Published: 09:08 AEST, 13 July 2025 | Updated: 11:39 AEST, 13 July 2025 A south-east Melbourne builder has collapsed owing half a million dollars to creditors. GJC Builders (Vic) Pty Ltd, based in Cranbourne West, entered liquidation on June 23. It owed 20 unsecured creditors a total of…
UK Court of Appeal overturns Petrofac’s restructuring plans due to unfair new money terms Taylor Wessing Read the original article here
Loch Lomond Seaplanes cancelled all its flights and issued a message on its website in April to confirm it had ceased trading. A pop-up message on the website, which is still available, states: “Please be advised that Loch Lomond Seaplanes has ceased trading. If you have tickets or a flight booked then someone will be in touchThe…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that the conduct of the litigant cannot be considered bona fide when an appeal, re-filed after rectification of defects, challenges a new order different from the…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member), Mr. Naresh Salecha (Technical Member) and Mr. Indevar Pandey (Technical Member) has held that the liability of the Corporate Debtor is not discharged merely because the guarantors were released from their liabilities by the Bank after One time…
Patel said he had secured another accredited employer to take on almost all the employees contracted to work for companies via ProLink after the liquidation was announced. ProLink was a labour recruitment business where staff were hired to work at other companies. Photo / Supplied “I’m a migrant from Fiji. At all times, the welfare…
The National Company Law Appellate Tribunal, Chennai Bench, comprising Justice Sharad Kumar Sharma (Member – Judicial) and Jatindranath Swain (Member – Technical), has addressed the conflict between a secured creditor’s statutory attachment under the Tamil Nadu Revenue Act, 1864, and the liquidation process under the IBC, 2016. The tribunal held that the government’s attachment of…