The Supreme Court held that the Applications filed in respect of “Fraudulent and Wrongful trading” carried on by the Corporate Debtor (CD) cannot be termed as “Avoidance Applications” under the Insolvency and Bankruptcy Code, 2016 (IBC). The Court held thus in a batch of Civil Appeals in which one of the Appeals was filed by…
An application under Section 66 of IBC may be maintainable against the persons who were responsible for the management of the corporate debtor The National Company Law Tribunal (NCLT), New Delhi bench has held that third parties who sold land to the Corporate Debtor cannot be said to fall within the ambit of expression “any…
The troubled Brindabella Christian College will close one of its campuses from Friday next week, after it was put under voluntary administration last month by Deloitte. A spokesperson for Deloitte said administrators decided to “consolidate” BCC’s two campuses, with Norwest students joining the Lyneham campus for at least Term 2 of 2025. “A total of…
The Tribunal reaffirmed that the IBC is meant to be a method for resolving the Corporate Debtor, not a procedure for collecting debt The National Company Law Tribunal (NCLT) Mumbai bench has held that the Liquidator must not restrict the private sale to a single buyer but should strategize to attract the maximum number of…
Home building client David Daff says he is elated after the Perth company that left him waiting well past his scheduled completion date announced it had gone into administration. Inspired Homes’ move into voluntary administration will allow customers with long-overdue building projects to access funds and employ new builders. Mr Daff, who signed on with…
Jurisdiction for Group Insolvencies ResearchGate Read the original article here
According to the reports, by December 31, 2024, a total of 8,175 Corporate Insolvency Resolution Processes (CIRPs) had been initiated under IBC The Insolvency and Bankruptcy Code, 2016 (IBC) has strengthened with 6 amendments and 122 reforms, says Mr. Harsh Malhotra, the Minister of State in the Ministry of Corporate Affairs and Minister of State…
Listen to the article 2 min This audio is auto-generated. Please let us know if you have feedback. As part of its restructuring, Canadian department store Hudson’s Bay Co. will eliminate 200 corporate roles effective Friday. “This is a difficult reality of the restructuring process, and we are committed to treating associates impacted by these…
Caroline Gall BBC News, West Midlands PA Media Six people arrested last year after The Crooked House pub was destroyed in a fire and then demolished illegally, were released from bail last July, but remain under investigation A firm linked to the ex-owner of the Crooked House pub, which was gutted by fire before being…
Open this photo in gallery: A pedestrian passes the Hudson’s Bay store in downtown Calgary, on March 20.Jeff McIntosh/The Canadian Press Hudson’s Bay Co. has informed some former senior executives that their pension payments will be cut, as the retailer continues to liquidate the majority of its stores and the future of the company hangs…