Category Archives: Liquidation

Interest on ICDs Cannot be Excluded from Financial Debt Once Corporate Debtor acknowledges Liability: NCLAT [Read Order]

The National Company Law Appellate Tribunal (NCLAT) has held that the interest component on Inter-Corporate Deposits (ICDs) cannot be excluded from the computation of financial debt under the Insolvency and Bankruptcy Code, 2016 (IBC), where the Corporate Debtor has acknowledged its liability. The Appellate Tribunal allowed the appeal filed by Wild Dreams Trading Company Pvt.…

Arbitration Agreement Cannot Defeat Recovery of Corporate Debtor’s EV Assets During CIRP: NCLT Leaves ₹1.14 Crore Dues Claim Open – Taxscan

Arbitration Agreement Cannot Defeat Recovery of Corporate Debtor’s EV Assets During CIRP: NCLT Leaves ₹1.14 Crore Dues Claim Open  Taxscan Read the original article here

UK haulage and freight company plunges into liquidation – open since 2021

A UK haulage and freight business open for just half a decade has become the latest firm to fall into liquidation. T.M.S Service Provider Limited appointed liquidators on July 13, with a notice published in the London Gazette early on July 21. A Resolution for Winding-Up order has revealed that the business would be “wound…

Edge of Memories developer Midgar Studio is being liquidated – GameDev.net

Edge of Memories developer Midgar Studio is being liquidated  GameDev.net Read the original article here

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REVEALED: Latest business liquidations in Bayswater – The Daily Telegraph

REVEALED: Latest business liquidations in Bayswater  The Daily Telegraph Read the original article here

Buyer sought to save gourmet burger chain Burger Burger facing $5.3m debt – Stuff

Buyer sought to save gourmet burger chain Burger Burger facing $5.3m debt  Stuff Read the original article here

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Homeplus’ rehabilitation revived after court reverses termination

A Homeplus store in Seoul is seen behind a red traffic light, Tuesday. Yonhap Homeplus won a reprieve on Tuesday after a court reversed its decision to terminate the retailer’s rehabilitation proceedings, concluding that a newly secured 200 billion won ($135 million) emergency loan had restored the viability of its turnaround plan. The Seoul Bankruptcy…

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