The Liquidator was instructed by the Tribunal to notify IBBI for proceedings under Section 74(1) of the Code, and Respondents were ordered to reimburse sums totaling Rs. 10,01,80,000 The National Company Law Tribunal, Mumbai bench has held that after the Corporate Insolvency Resolution Process (CIRP) has begun, any payments made from the Corporate Debtor’s account…
Brindabella Christian College operating as usual despite entering voluntary administration MSN Read the original article here
Mark Butler calls Australia’s private hospitals and insurers to urgent meeting amid Healthscope financial crisis The Guardian Australia Read the original article here
The panel ruled that when the Corporate Debtor’s account was frozen in accordance with the Adjudicating Authority’s instructions under the PMLA, it lacked the authority to order the ED to defreeze it The Tribunal ruled that only the authorities specified under the PMLA have the authority to handle cases pertaining to account freezing and attachment…
IBC Monthly Digest [February 2025] Live Law – Indian Legal News Read the original article here
By Yun Park ( March 7, 2025, 6:57 PM EST) — A hearing for bankrupt trucking company KAL Freight to determine whether to convert the case to a Chapter 7 liquidation was pushed back to next week as the debtor tried to finalize a Chapter 11 asset sale…. Law360 is on it, so you are,…
The issue is that this process can take a long time and often doesn’t help creditors get their money back. When a business is in financial trouble and can’t pay its debts, it might go into liquidation. This means the company is closed down and its assets (things it owns) are sold to pay off…
SpiceJet is facing fresh round of troubles as three Ireland-based aircraft lessors and a former pilot have filed insolvency pleas in NCLT against the budget carrier, claiming defaults. Three lessors – NGF Alpha, NGF Genesis and NGF Charlie- have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet claiming dues…
Paperwork prepared for Tuesday’s Ipswich Borough Council executive meeting has revealed that Dayal Motels Ltd went into liquidation on December 11. The company was liable for business rates at the Tavern Street site from June 28, 2022, to December 10 last year, but according to the council no rates were paid. There was a valuation request…
Promoter Undergoing CIRP Can Be Permitted To Complete Project For Benefit Of Homebuyer: NCLAT Live Law – Indian Legal News Read the original article here