An Australian court put 12 Edwards-linked companies under provisional liquidation Friday. The Australian Securities and Investments Commission (ASIC) sought the order after records showed they raised A$182 million (about $130.5 million) from investors. The judgment put outside administrators in control of the 12 companies, which the court said largely paid investors with money from new…
Liquidation no shield against tax defaults, rules Delhi court; sentences Naftogaz director in Rs… Moneycontrol.com Read the original article here
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IMS Energy, which was previously registered at Popeshead Court Offices, Peter Lane, York, entered voluntary liquidation following a vote to voluntarily wind up the business on July 30. Maxim of Sheffield were appointed liquidators to the company which was incorporated in 2018. RECOMMENDED READING: A report by the liquidators, known as a statement of affairs,…
Dharan Infra-EPC Limited, which is under Corporate Insolvency Resolution Process, has reported ongoing issues in complying with information requests from the Securities and Exchange Board of India. Despite repeated summons and reminders, the company’s suspended directors, key managerial personnel and statutory auditor have failed to provide the pending records and data sought by the regulator.…
A UK court has ordered the liquidation of Key Coin Assets Ltd, a cryptocurrency investment firm that promised investors returns of 40% to 100%, after investigators found the operation showed classic signs of a Ponzi scheme. The UK Insolvency Service, which brought the case, said there was no evidence that the company ever engaged in…
Australian Pacific Coal Enters Voluntary Administration as Dartbrook Sale Proceeds TipRanks Read the original article here
NCLT Bengaluru Dissolves Infotech HAL After Completion Of Liquidation Process LiveLawBiz Read the original article here
The National Company Law Tribunal (NCLT) at Chennai on 7 August admitted Gangotri Textiles Limited‘s application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC), thereby initiating Corporate Insolvency Resolution Process (CIRP) against it. A Bench comprising Judicial Member Jyoti Kumar Tripathi and Technical Member Ravichandran Ramasamy observed: “….this Tribunal is satisfied that…
A lord ordinary has ordered that the director of an insolvent healthcare waste disposal company be disqualified from company management for nine years, after finding that his conduct in the run-up to the company’s liquidation amounted to an “egregious breach” of his director’s duties. A healthcare waste disposal company founded by the respondent was wound…