New Delhi, Feb 5 (PTI) The Insolvency and Bankruptcy Board of India has amended rules to allow distressed homebuyers to take possession of their properties while the resolution process is ongoing. The amendments, notified on February 3, and effective immediately, aim to enhance efficiency in insolvency proceedings, particularly for real estate projects, by introducing measures…
The Insolvency and Bankruptcy Board of India has amended rules to ease homebuyers’ woes in stalled real estate projects, allowing them to take possession while resolution is underway. New Delhi, Feb 5 (PTI) The Insolvency and Bankruptcy Board of India has amended rules to allow distressed homebuyers to take possession of their properties while the…
The news: Budget airline Bonza Aviation has entered liquidation after the company’s creditors held a second meeting on the future of the company on Tuesday. The context: In April, Bonza entered into voluntary administration after abruptly cancelling flights across Australia, stranding hundreds of domestic passengers, as it considered “the ongoing viability of the business”. Bonza’s…
The Coca‑Cola Company has entered into an agreement with Billson’s Beverages concerning the purchase of its brand and RTD business. The news follows on from Billson’s being placed into voluntary administration at the end of July, shortly after it was announced as a top-three growth brand in 2023. Earlier this month on 6 December, Billson’s…
MedTechDeals The board of MedTech Achilles Therapeutics is proposing a members’ solvent voluntary liquidation. The London-headquartered firm, which has an office in Philadelphia and facilities at Stevenage Bioscience Catalyst, sold some of its technology assets to AstraZeneca late last year for $12m. Achilles, founded in 2016, was developing precision T cell therapies that target clonal…
Forward AM Technologies GmbH has filed for insolvency as a proactive measure to restructure the business, CEO Martin Back says. Reports of the company’s financial struggles emerged earlier this week, with the company now confirming in a press release that it commenced insolvency proceedings with the District Court of Heidelberg on November 21, 2024. The Forward…
Syncona (SYNC) says that its portfolio company, Achilles Therapeutics Plc, has announced that its board has recommended a members’ solvent voluntary liquidation and a return of capital to shareholders. SYNC’s announcement says that, based on the information currently available to Achilles and, assuming that Achillies’ shareholders approve the liquidation proposals and associated resolutions, it is…
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…