The legal framework governing commercial distress and corporate insolvency in the United Arab Emirates has shifted from a largely liquidation-based framework to a modern framework that is more focused on business rescue and financial restructuring. The key legislative amendment is Federal Decree-Law No. 51 of 2023 Promulgating the Financial Restructuring and Bankruptcy Law, which took…
Home/Corporate Laws/NCLT Permits Liquidation Without Form G Publication as CoC Finds No Viable Revival Prospects [Read Order] Corporate LawsLaw Report The NCLT ordered liquidation citing prolonged business inactivity, negligible assets, and no viable prospects of revival despite pending CIRP actions. Get the day’s tax rulings in your inbox × The case number, coram and counsel…
REVEALED: Liquidator appointments for businesses in the Northern Beaches council area for October 27 The Daily Telegraph Read the original article here
The Central District Court last week approved the sale of all assets, technology and intellectual property belonging to Israeli industrial wireless technology startup CoreTigo to Japan’s Aeterlink Corp. for $350,000. The sale follows CoreTigo’s financial collapse and entry into liquidation proceedings earlier this year. Founded in 2017, CoreTigo developed wireless communication systems for industrial machinery…
Mumbai, Oct. 27 — The Supreme Court on Monday ruled that lenders cannot withdraw an approved insolvency resolution plan merely because a company’s financial position has improved, potentially limiting creditors’ ability to seek better commercial terms. A division bench of Justices J.B. Pardiwala and K. Vinod Chandran declined to interfere with the National Company Law…
Company founded by Dragons’ Den star Sara Davies’ goes into liquidation with nearly 60 jobs lost Manchester Evening News Read the original article here
The perfume brand is stocked in Harrods stores across the UK (London, Lakeside, and Gateshead) and has developed a loyal following that includes royal clientele. The Bella Bellissima website adds: “Bella Bellissima embraces artisanal production techniques, utilises the natural world’s most treasured ingredients, encapsulated in bespoke glass bottles with thoughtful, reusable packaging. “The brand has a loyal,…
Full list: Companies entering liquidation or administration across Australia on October 27 The Courier Mail Read the original article here
Dragons’ Den star’s company plunges into liquidation with 58 jobs axed The Sun Read the original article here
The Supreme Court upheld the exclusion of ECL Finance and IDBI Trusteeship Services from Palm Developers’ Committee of Creditors, finding that contractual rights established related-party involvement in policymaking. – ECL Finance Ltd. and Another v. Abhinav Mukherjee and Others The Supreme Court has dismissed appeals filed by ECL Finance Limited and IDBI Trusteeship Services Limited,…