According to the petitioner, the purchase order terms required L&T to make payments within 90 days of supply. However, the lawyers contended that payments were not made. They also relied on documentary evidence of purchase orders and correspondence allegedly acknowledging the debt and seeking more time to pay. The petitioner also placed on record a…
TORONTO — The clock is ticking down on two deadlines that may determine the fate of Hudson’s Bay. Anyone interested in buying Canada’s oldest company or assets like the rights to its iconic Stripes brand has until Wednesday at 5 p.m. to submit binding proposals. Those wanting to take on leases held by the 355-year-old…
Massive American company being liquidated in South Africa Business Tech Read the original article here
In a significant ruling clarifying the procedural requirements under the Insolvency and Bankruptcy Code, 2016 (IBC), the Supreme Court on April 29, 2025, held that service of a demand notice under Section 8 of the IBC on the Key Managerial Personnel (KMP) of a corporate debtor at its registered office constitutes valid service. The Court…
Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Hudson’s Bay Co. will wind down six namesake stores plus a Saks Fifth Avenue store that the company had previously excluded from liquidation plans, saying on Thursday that “a viable bid for the current six-store…
Political issues at both national and global level have impacted heavily on local businesses as the prospect of higher employment costs and the threat of trade tariffs across England and Wales pushed up corporate insolvencies by almost a tenth in March. This is according to the Midlands branch of the UK’s insolvency and restructuring trade…
Patchwork Foods in Ruthin was founded in 1982 by Margaret Carter in her kitchen, and went on to become famous for pates and other specialities. An award-winning business for much of its four decades of trading, Margaret, son Rufus and business partner Jen Whitham helped it achieve a £2 million annual turnover. The trio left the business as…
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Mumbai: Several strategic buyers as well as investors are actively scouting for cement manufacturing companies which are currently undergoing the corporate insolvency resolution process under the Insolvency & Bankruptcy Code.One of the most sought-after assets in the sector is the cement business of debt-laden Jaiprakash Associates Ltd (JAL). The company has four plants in North…