Category Archives: Liquidation

Insolvency And Bankruptcy Code Could Be A Double-Edged Sword For Corporate Restructuring, Recovery. Here’s How

By Vibhav Mishra The Insolvency and Bankruptcy Code (IBC), introduced to address deficiencies in earlier laws like the Sick Industrial Companies Act and the Companies Act, promised a revolutionary framework for company revival, reorganization, and debt resolution. However, eight years since its inception, the IBC faces significant implementation challenges, raising questions about whether it is…

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Last roll of lenders’ dice coming for Star Entertainment – The Australian

Last roll of lenders’ dice coming for Star Entertainment  The Australian Read the original article here

Guelph’s Peavey Mart set to close as part of Canada-wide shutdown

Parent company seeking creditor protection – liquidation sales have begun at the farm goods store on Silvercreek Parkway North, and others across country Turns out Guelph’s Peavey Mart will be closing up shop after all. The farm goods company says it is closing all of its stores across Canada, as Peavey Industries LP is seeking…

IBBI streamlines rules on information utilities to expedite bankruptcy resolution

The bankruptcy regulator on Wednesday amended technical standards guidelines for key services extended by information utilities (IUs), which typically store financial information about stressed firms in electronic databases, to streamline their operations and help speed up insolvency resolution.As per the latest Insolvency and Bankruptcy Board of India (IBBI) rules, an IU will use demographic authentication…

Texas-Based EV Maker Canoo Files Liquidation Bankruptcy

Another electric vehicle maker is finding itself in financial dire straights. Texas-based Canoo, which was originally founded in California,  has filed for liquidation bankruptcy under Chapter 7 of the U.S. Bankruptcy Code.  In its recent announcement, the company said it was ceasing operations immediately. 

PAN must to seek data on corporate debtors under IBC – Banking & Finance News

The Insolvency and Bankruptcy Board of India (IBBI) has now mandated information utilities (IU) to use PAN or any other official document to verify the identity of users, who wish to seek information of corporate debtors.  The IU, under the Insolvency and Bankruptcy Code (IBC), is required to maintain an electronic database of information of…