The National Company Law Tribunal (NCLT) has ordered the liquidation of Tulip Hotels after the failure to secure a resolution plan within the stipulated timeline during the Corporate Insolvency Resolution Process (CIRP). Initiated on May 16, 2023, based on a plea by Yes Bank, the CIRP was launched due to a default of INR 900…
Mosaic Brands, the owner of Rivers, Millers and Katies, has entered voluntary administration. The ASX-listed company, which operates over 700 stores and employs around 3000 staff, confirmed the decision on Monday after efforts to restructure informally fell short. Mosaic had attempted several changes,… Read the original article here
Busy Bee Airways Pvt Ltd, one of the bidders for the grounded airline Go First, has approached the National Company Law Appellate Tribunal (NCLAT) to challenge the airline’s liquidation. On 20 January the National Company Law Tribunal (NCLT) issued an order that sent Go First into liquidation after the airline’s creditors unanimously voted to liquidate…
AMSC to Distribute SMH Shares, Plans Liquidation TipRanks Read the original article here
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SUMMARY The actor, who had entered an endorsement agreement with the edtech startup on March 8, 2021, sought to recover dues worth over INR 4.83 Cr via the initiation of a corporate insolvency resolution process In its judgement, the NCLT said that this issue doesn’t qualify as a “debt” and thus is outside of its…
NCLT rejects Akshay Kumar’s insolvency plea against edtech Cue Learn MSN Read the original article here
Recent figures from the third quarter of the 2024-2025 financial year – 1 October to 31 December 2024 – have revealed a mixed picture for insolvencies in Scotland, according to insolvency and restructuring trade body R3. Corporate insolvencies, including liquidations and receiverships, totalled 285. This represents a 2.4% decrease compared to the same period in…
R3 responds to the 2024 annual insolvency statistics Yorkshire Evening Post Read the original article here
R3 responds to the 2024 annual insolvency statistics NationalWorld Read the original article here