Forward AM Technologies GmbH has filed for insolvency as a proactive measure to restructure the business, CEO Martin Back says. Reports of the company’s financial struggles emerged earlier this week, with the company now confirming in a press release that it commenced insolvency proceedings with the District Court of Heidelberg on November 21, 2024. The Forward…
Syncona (SYNC) says that its portfolio company, Achilles Therapeutics Plc, has announced that its board has recommended a members’ solvent voluntary liquidation and a return of capital to shareholders. SYNC’s announcement says that, based on the information currently available to Achilles and, assuming that Achillies’ shareholders approve the liquidation proposals and associated resolutions, it is…
On 6 December 2024, ASIC released its updated Regulatory Guide RG 217 ‘Duty to prevent insolvent trading: Guide for directors’ (RG 217). The updated guidelines replace the previous version which was released in August 2020. Most notably, RG 217 now contains detailed guidance from ASIC on how directors may be able to protect themselves from…
The future of the plant, which is owned within a fund managed by Aviva Investors on behalf of public and private pension fund investors, has been thrown into question since redundancies at the site were announced in November. In a letter received by vice-chair of the Docks Incinerator Action Group (DIAG) and Plaid Cymru Councillor…
In a bid to provide relief to homebuyers, the Insolvency and Bankruptcy Board of India (IBBI) has allowed resolution professionals (RP) to hand over possession of plots, flats, or buildings to homebuyers while the resolution process is still ongoing. Through amending ‘Insolvency Resolution Process for Corporate Persons’ regulations, the IBBI has allowed the RP to…
An adviser probing the alleged accounting fraud at Indonesian agritech company eFishery recommended that investors make a decision on whether to liquidate or restructure the company as soon as this month, in light of the rapid unraveling of the high-profile startup, according to a document reviewed by Bloomberg News. In a few weeks, shareholders should…
NEW DELHI: Insolvency board IBBI on Tuesday issued a discussion paper to provide clarity on various operational aspects including those related to coordinated resolution of interconnected entities and streamlining of submission of resolution plans. The paper proposes several amendments to address operational challenges in the resolution framework. The IBBI has invited public comments on the…
Sunright Limited Streamlines Operations with Subsidiary Liquidation TipRanks Read the original article here
Critical legal and regulatory shifts, from AI-driven workforce transformation to evolving insolvency frameworks, are expected to redefine India Inc.’s business strategy.A recent report by Khaitan & Co., ‘Foresight 2025,’ states that legal agility will be key for businesses navigating India’s evolving corporate terrain as regulatory complexities deepen across sectors. As the regulatory landscape tightens, the…
Matt Precey BBC News, Norfolk Matt Precey/BBC The Union Building in Norwich was the location of a raid by HMRC officers last September A dozen companies linked to the director of a firm which was raided by HM Revenue and Customs (HMRC) are being wound up, the BBC can reveal. Most are based in the…