MUMBAI: In a widely expected step, Byju’s has moved the National Company Law Appellate Tribunal (NCLAT), challenging a court order which allowed insolvency proceedings to be initiated against the once high flying decacorn startup. Byju’s, sources said, has sought an urgent hearing on the matter. The Chennai bench of NCLAT may take up the matter…
In short: The company which operates the Peko mine in Tennant Creek has been placed into voluntary administration. Elmore has told the Australian Stock Exchange it is “insolvent or likely to become insolvent at some future time”. What’s next? Employees have been told they still have jobs and will continue to be paid a wage, as administrators assess…
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12…
Sign up to receive the Vogue Business newsletter for the latest luxury news and insights, plus exclusive membership discounts. In shock news to the industry, Australian New York-based designer Dion Lee has appointed voluntary administrators to the brand’s Australian business. The brand is the fourth independent label this week to raise alarm. Whereas the other three…
Major private debt collector Panthera Finance has appointed new directors and put parts of the company into administration as it seeks to sell off its scandal-plagued business. Last month, Guardian Australia revealed Panthera, one of the country’s biggest private debt collection firms, had circumvented a blacklisting designed to stop it from operating in Victoria and…
Constance Hall has put her online fashion business into voluntary administration. The mother-of-six took to Facebook late Thursday evening to announce she would be shutting up shop on Queen The Label after being ‘stressed out for seven years’. In a long-winded post, Constance, 40, said she ‘dreaded’ breaking the news, and that administrators will be coming…
On Thursday, the Supreme Court of India declined to defer or impose a stay on the operations of a Committee of Creditors (CoC) recently established to oversee the corporate insolvency resolution process (CIRP) for the ed-tech firm Byju’s [Glas Trust Company LLC v. Byju Raveendran and ors]. The Bench, comprising Chief Justice of India (CJI)…
Introduction The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following…
Prof Jason Harris, Sydney Law School One of the problems is that our insolvency laws adopt a ‘one-size-fits-all’ approach that makes little distinction between winding up a national transport company and dealing with a failed corner store business. This work must be paid for and while the former may well justify the attention of what…
Hong Kong to Introduce Corporate Rescue Regime and Insolvency Trading Regime Herbert Smith Freehills Read the original article here