On 6 December 2024, ASIC released its updated Regulatory Guide RG 217 ‘Duty to prevent insolvent trading: Guide for directors’ (RG 217). The updated guidelines replace the previous version which was released in August 2020. Most notably, RG 217 now contains detailed guidance from ASIC on how directors may be able to protect themselves from…
The future of the plant, which is owned within a fund managed by Aviva Investors on behalf of public and private pension fund investors, has been thrown into question since redundancies at the site were announced in November. In a letter received by vice-chair of the Docks Incinerator Action Group (DIAG) and Plaid Cymru Councillor…
In a bid to provide relief to homebuyers, the Insolvency and Bankruptcy Board of India (IBBI) has allowed resolution professionals (RP) to hand over possession of plots, flats, or buildings to homebuyers while the resolution process is still ongoing. Through amending ‘Insolvency Resolution Process for Corporate Persons’ regulations, the IBBI has allowed the RP to…
An adviser probing the alleged accounting fraud at Indonesian agritech company eFishery recommended that investors make a decision on whether to liquidate or restructure the company as soon as this month, in light of the rapid unraveling of the high-profile startup, according to a document reviewed by Bloomberg News. In a few weeks, shareholders should…
NEW DELHI: Insolvency board IBBI on Tuesday issued a discussion paper to provide clarity on various operational aspects including those related to coordinated resolution of interconnected entities and streamlining of submission of resolution plans. The paper proposes several amendments to address operational challenges in the resolution framework. The IBBI has invited public comments on the…
Sunright Limited Streamlines Operations with Subsidiary Liquidation TipRanks Read the original article here
Critical legal and regulatory shifts, from AI-driven workforce transformation to evolving insolvency frameworks, are expected to redefine India Inc.’s business strategy.A recent report by Khaitan & Co., ‘Foresight 2025,’ states that legal agility will be key for businesses navigating India’s evolving corporate terrain as regulatory complexities deepen across sectors. As the regulatory landscape tightens, the…
Matt Precey BBC News, Norfolk Matt Precey/BBC The Union Building in Norwich was the location of a raid by HMRC officers last September A dozen companies linked to the director of a firm which was raided by HM Revenue and Customs (HMRC) are being wound up, the BBC can reveal. Most are based in the…
A former employee of Impact Business Shared Services Ltd (IBSS), who did not wish to be identified, said they were among those owed money. “Everyone at IBSS was let go without their final month’s pay,” the former worker said. “We’re all out of pocket by a few thousand pounds.” Employee back pay totalling £156,700 is…
Syncona Limited is a Guernsey-based closed-ended investment company. The Companyâs investment objective is to achieve superior long-term capital appreciation from its investments. It seeks to achieve returns over the long term. It focuses on creating, building and scaling companies around science to create a diversified portfolio of 20-25 global healthcare businesses, across development stage and…