The Bar & Bench Weekly IBC Diary aims to report crucial rulings of various courts and tribunals and important updates concerning the Insolvency & Bankruptcy Code (IBC), 2016. 1. SM Milkose Limited & Anr v. Parvinder Kumar Bhatt & Ors. (NCLAT, Delhi) Issue involved: Whether any amounts received by the corporate debtor during the currency…
This is the first article in ‘Back to Basics’, a series of articles looking at insolvency processes in Scotland. In this article I examine the court process for winding up a company. A winding up petition is a form of legal action that can be used when a company is unable to pay its debts…
The promoters of McLeod Russel India, the countrys largest tea producer in India, have reached a settlement with financial creditor, Techno Electric & Engineering, paving the way out of insolvency. Aditya Khaitan, chairman and managing director, McLeod Russel India, did not comment. P P Gupta, managing director, Techno, said, The matter stands closed to our…
Popular bag maker Crumpler has collapsed into administration one year after celebrating its 25th anniversary, with the COVID-19 pandemic wreaking more havoc on the countrys retailers. Notices published by corporate regulator ASIC on Thursday showed insolvency firm PKF was appointed administrator of the trendy bag manufacturer, which is headquartered on Melbournes busy Russell Street. Crumplers…
Steinhoff has argued that it cannot be liquidated under SA law. Fin24/File Lawyers for Steinhoff have argued that a High Court bid to have it liquidated should be thrown out, as it is an “external company” under SA law that cannot be wound up by a local court. The retailer is facing a liquidation application…
The insolvency law has provided a framework for resolution of stressed assets, and its success needs to be appreciated in comparison with the situation that prevailed prior to its implementation TopicsInsolvency and Bankruptcy Code|IBC|Stressed assets The insolvency law, which has undergone various phases of evolution, has provided a framework for resolution of stressed assets, and…
IBBs Commercial Services Group is pleased to announce the appointment of Sonia Jordan who joins as a Partner in the Corporate Restructuring and Insolvency team from 01 September 2021. Sonia is an experienced and well-respected Restructuring and Insolvency Partner with a transactional and contentious practice who has led on some high-profile administrations during 25 years…
ROUNDTABLE September 2021Rewriting the rulebook: building a post-pandemic boardTo realise a companys vision, the right team will need to be assembled.www.financierworldwide.comIssue 225 September 2021FEATUREConsolidating US healthcare:a paradigm shift in delivery SPECIAL REPORTPrivate equityROUNDTABLECorporate bankruptcy &insolvency litigationTHIS ISSUE:CORPORATE BANKRUPTCY & INSOLVENCY LITIGATIONThe corporate bankruptcy & insolvency litigation landscape has experienced a turbulent period over the past…
Henry Paulson, former US treasury secretary and Goldman Sachs chairman, is believed to have once said that regulation always lags innovation. It is also true, conversely, that good regulatory frameworks always anticipate changes, or require minimal tweaking as changes occur. Indias bankruptcy regulator, the Insolvency and Bankruptcy Board of India (IBBI), has been forced to…
Law360, London (September 1, 2021, 4:43 PM BST) — A provider of self-invested personal pensions has entered into liquidation in a move to help it deal with complaints from customers, the City watchdog has said, after it found that the company won business from unauthorized introducers. DAC Pensions Ltd. has placed itself into creditors’ voluntary…