Scottish whisky company falls into liquidation plunging investors into uncertainty

A SCOTTISH whisky company has collapsed into liquidation, plunging thousands of cask investors into uncertainty. Edinburgh-based Whisky Merchants Trading Limited was placed into liquidation by administrators Griffins after an estimated £80 million was raised from investors across the company’s brands. Administrators said the collapse of the firm had left “thousands of global customers uncertain of…

Simultaneous CIRP Proceedings Against Principal Debtor and Corporate Guarantor are Maintainable: Supreme Court rules in favour of ICICI Bank [Read Judgement]

The Supreme Court of India, while deciding a batch of appeals involving ICICI Bank and SBI, held that simultaneous Corporate Insolvency Resolution Process (CIRP) proceedings against a principal debtor and its corporate guarantor are maintainable under the Insolvency and BankruptcyCode (IBC), 2016. The appeals arose from conflicting orders by the NCLAT and NCLT regarding the…

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Singapore court allows winding-up of BVI firms linked to 1MDB, enabling claims against banks

KUALA LUMPUR (May 15): The Singapore High Court has allowed the winding-up of several British Virgin Islands (BVI) entities linked to the 1Malaysia Development Bhd (1MDB) scandal, enabling liquidators to pursue statutory claims against Standard Chartered Bank Singapore and BSI Singapore in Singapore. In a statement on Friday, Angela Barkhouse and Toni Shukla, joint liquidators…