The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that an order passed by the Adjudicating Authority after considering all necessary materials essential for determining the issue cannot be recalled. Therefore, it cannot be said…
Business conglomerate Adani Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group‘s flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, through an order…
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Amsterdam-based Blokker, a prominent household retail chain, ceased its operation at most of its locations after filing for bankruptcy in November 2024. The company, which had struggled with financial difficulties for years, closed approximately 350 of its remaining 400 stores by the end of December, reports NLTimes. Only about 40 independently operated franchise locations continue…
India’s bankruptcy rule maker recently proposed to drop the clause that allows keeping a company in liquidation as a going concern—essentially, a business that can operate and meet its obligations. While the provision intended to save jobs and preserve value, it merely encouraged lawsuits, attracted tainted owners, delayed liquidation and depressed asset values, lawyers said.…
Business Matters: Hudson’s Bay liquidation sales begin at all but 6 stores MSN Read the original article here
As liquidation sales are underway across the country at Hudson’s Bay, local residents are taking part in the emotional goodbye. Sales started at the Devonshire Mall location on Tuesday morning, with discounts starting at 15 per cent off. While community members weren’t walking away with large bags of items, some were taking part in the…
After Chapter 11 bankruptcy, discount retailer shares closure news MSN Read the original article here
Online retail liquidation company opens second San Antonio location The Business Journals Read the original article here
Corporate insolvencies rise sharply: Cause for concern or normalization after the pandemic years? German Economic Institute (IW) Read the original article here