‘Unrelenting’: Liquidation numbers likely to keep climbing – The Press
‘Unrelenting’: Liquidation numbers likely to keep climbing The Press Read the original article here
Decision To Consolidate CIRP Can Be Taken By CoC And Not By Suspended Director Of Corporate Debtors: NCLT Hyderabad
The NCLT Hyderabad bench of Sri Rajeev Bhardwaj (Judicial Member) and Sri Sanjay Puri (Technical Member) has affirmed that the decision to consolidate, or not, rests with the CoCs, who are not only better equipped to make such determinations but also have a vested interest in the outcome, and whose commercial wisdom is paramount in…
Grasons Estate Sales Help Families, Businesses Transition into the New Year |
SCOTTSDALE, Ariz., Dec. 2, 2024 /PRNewswire/ — As the year-end approaches, Grasons, a leader in estate sale and business liquidation services and member of Evive Brands, highlights the important role of estate sales in helping individuals and businesses close one chapter and prepare for the next. From personal estate transitions to business liquidations, Grasons offers comprehensive…
Birmingham Trader Jailed for Covid Loan Fraud
Raashid Khan forged four documents to prevent restrictions being placed on his business bank account and to avoid having to pay a company £75,000 for fireworks Khan also secured a maximum-value Covid Bounce Back Loan just weeks before his business was liquidated and fraudulently withdrew more than £60,000 after his company had been wound-up by…
Pre-CIRP Dues Cannot Be Recovered After Admission Of Corporate Debtor Into Insolvency: NCLAT
The NCLAT Chennai bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Ajai Das Mehrotra (Technical Member) has held that pre-CIRP dues cannot be recovered once the corporate debtor is admitted into insolvency due to moratorium under section 14 of the code. Any amount due to the corporate debtor can be recovered by filing…
Deewin Tianxia Announces Subsidiary Liquidation and Merger – TipRanks
Deewin Tianxia Announces Subsidiary Liquidation and Merger TipRanks Read the original article here
AUTUMN BUDGET 2024 – business and insolvency sectors reaction
Chancellor Rachel Reeves has announced the autumn budget for 2024. Commenting on the announcements James Burgess, Head of Commercial and insolvency expert at Atradius said “Today’s Autumn Budget could be a game-changer for businesses across the UK, marking a pivotal moment for the economy. With Labour’s proposals set to impact retail, hospitality, and leisure businesses,…
No Proceedings Against Corporate Debtor Can Be Initiated Or Continued Over Claim Which Is Not Part Of… – Live Law – Indian Legal News
No Proceedings Against Corporate Debtor Can Be Initiated Or Continued Over Claim Which Is Not Part Of… Live Law – Indian Legal News Read the original article here
Insolvency & Bankruptcy Code Does Not Override Public Body’s Statutory Authority To Regulate Its Properties: NCLAT
The National Company Law Appellate Tribunal, New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member), Naresh Salecha (Technical Member) and Mr Indevar Pandey (Member) held a liquidator cannot not create sub-leases over public land without adhering to the statutory requirements. It was further held that Section 238 of the Insolvency and Bankruptcy Code, 2016…
NCLT Holds Share Application Money Deposited With Corporate Debtor Cannot Be Treated As Financial Debt U/S 5(8) Of IBC
The share application money was given for the allotment of shares but neither were shares allotted nor was money refunded The New Delhi bench of National Company Law Appellate Tribunal ( NCLAT) has held that share application money deposited with the corporate debtor cannot be treated as financial debt under section 5(8) of the IBC.…