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…
AMSC CFO Morten Bakke steps down ahead of liquidation TradeWinds Read the original article here
The European Commission’s latest proposals to take forward the Capital Markets Union (CMU) action plan contain a long-awaited deliverable from the plan — an attempt to harmonise insolvency practices across the Union — as well as continuing efforts to make it easier to raise capital on EU public markets. Other proposals were not in the original action plan but address issues…
The Supreme Court on Tuesday (April 29) upheld the delivery of a demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) to the corporate debtor’s Key Managerial Personnel (KMP), stating that the delivery of the notice to the KMP substantially complies with the requirement of Section 8 of IBC. Setting aside…