In a recent case, the Cochin bench of the National Company Law Tribunal (NCLAT) dismissed the application filed by Canara Bank under section 95 of the Insolvency and Bankruptcy Code (IBC), 2016, on failure to prove the claimed debt of 43 Crore. Canara Bank, Asset-Recovery Management Branch under Section 95 of the Insolvency & Bankruptcy…
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Aussie post production company that worked on Hollywood films collapses with nearly $4million debt MSN Read the original article here
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Developer defends ‘historic’ failures and big debts The Press Read the original article here
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Home care and disability services provider Annecto Incorporated has entered voluntary administration, leaving more than 1,000 employees and 3,000 clients in limbo across Victoria, New South Wales, Queensland, and South Australia. In June, the Melbourne-based Not For Profit announced plans to cease services by the end of July, with three providers selected by the Department of Health,…
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 section 10A of the Insolvency and Bankruptcy Code, 2016 (IBC) does not prohibit parties from entering into an arrangement to restructure their debts during or…
Wockhardt has announced a strategic shift in its operations in the United States, deciding to exit the generics pharmaceutical segment in the country. The company has filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code for its two Delaware-incorporated step-down subsidiaries—Morton Grove Pharmaceuticals Inc. and Wockhardt USA LLC. This move marks a…