The National Company Law Tribunal (NCLT), in an order delivered on July 16, admitted a plea filed by the Board of Control for Cricket in India (BCCI) to initiate a corporate insolvency resolution process for Think and Learn Pvt Ltd, the parent company of BYJU’S. “This Adjudicating Authority is of the considered opinion that there…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Joseph Schumpeter shocked many with his forthright views about the power of free markets. The early 20th century Austrian economist once told his students at Harvard University: “Gentlemen, a depression is for capitalism like a…
Rising numbers of firms going bust overtake financial crisis insolvency levels MSN Read the original article here
CTD Tiles goes into administration and closes 56 of its outlets. The company’s administrators stated that 268 employees were laid off as a result of the failure. Despite the huge number of retail closures, rival Topps Group purchased 30 CTD Tiles locations and two distribution sites in a rescue plan. Topps Tiles has purchased CTD…
Derby-based dance company Déda has announced it is entering voluntary insolvency after “enduring significant financial pressures” since the onset of Covid, making it “impossible to continue” operations in its current format. Founded in 1991, the Arts Council England-funded charity runs a dance and movement venue and is co-producer of the annual Derby Feste festival, which…
Sunright Limited (SG:S71) has released an update. Sunright Limited has completed the liquidation of its wholly-owned subsidiary, KES Systems & Service (Shanghai) Co., Ltd., with the subsidiary’s business license revoked in March and the process finalized in August 2024. The company assures stakeholders that this move will not materially affect its net tangible assets or…
Operational creditors continue to get little of insolvency proceeds MSN Read the original article here
Experts responds to July 2024 insolvency statistics NationalWorld Read the original article here
More than 47,000 UK companies are on the brink of collapse after a 25% jump in the number of businesses facing “critical” financial distress in the final three months of 2023, according to a report. It marks the second consecutive quarter-on-quarter period when critical financial distress has risen by a 25%, the latest “Red Flag”…
Invitae gets court approval for five-month bankruptcy sale Reuters Read the original article here