AF JOANN Fabric out; liquidation sales begin

Rob Shelton | Lehi Free Press In a devastating blow to local crafters and DIY enthusiasts, JOANN Fabric and Crafts announced Sunday the closure of all 800 stores nationwide, including the American Fork location in Utah.  The American Fork store, situated in a shopping center that recently lost Big Lots, will begin liquidation sales immediately.…

Gratuity Dues Of Workers Do Not Form Part Of ‘Liquidation Estate’ Of Corporate Debtor, Must Be Paid In Full: Calcutta High Court

The Calcutta High Court bench of Justice Shampa Dutt (Paul) has held that gratuity dues are statutorily protected under the Payment of Gratuity Act, 1972, and do not form part of the liquidation estate of the Corporate Debtor under the Insolvency and Bankruptcy Code, 2016 (IBC). The court held that gratuity payments are outside the…