Impact Of Delays In Insolvency Resolution On The Economy – BW Legal World
Impact Of Delays In Insolvency Resolution On The Economy BW Legal World Read the original article here
NCLT Rejects Application Filed Against Future Lifestyle By Mohan Clothing Company
Mumbai: NCLT Rejects Application Filed Against Future Lifestyle By Mohan Clothing Company | Representative pic The National Company Law Tribunal (NCLT) has declined a request from Mohan Clothing Company, the manufacturer of the ‘Blackberrys’ and ‘Blackberrys Casual’ apparel brands, to compel Future Lifestyle Fashions Group, currently undergoing insolvency proceedings, to return over 11,696 items of…
Hercules Director’s Affiliated Firm Faces Liquidation
Hercules Site Services Plc (GB:HERC) has released an update. Hercules Site Services Plc has disclosed that Robin Stevens, their Non-Executive Director, is facing a potential conflict of interest as the company he joined as a Non-Executive Director, East Imperial PLC, is entering liquidation. This information was released in compliance with AIM Rule 17 and Schedule…
NC High Court Allows Liquidation of Lindberg Insurers; He Owes $524M in Fed Case
Greg Lindberg, the North Carolina insurance and business executive now awaiting sentencing on a bribery conviction, can’t escape a $524 million arbitration and civil judgment against him, a federal appeals court decided this week. Also this week, the state Supreme Court dismissed Lindberg’s challenge in a separate case, finally allowing liquidation of two of his…
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Celsius Creditors Explore Liquidation of Ionic Digital as It Faces Delays in Public Listing – Coinspeaker
Celsius Creditors Explore Liquidation of Ionic Digital as It Faces Delays in Public Listing Coinspeaker Read the original article here
US bankruptcies hit 13-year peak in 2023; 50 new filings in December
US corporate bankruptcy filings rose again in December 2023, closing out a year with the most filings since 2010. S&P Global Market Intelligence recorded 50 bankruptcy filings in the month. The total was up from a revised 33 recorded in November, but roughly in line with the monthly average of just under 54 bankruptcies for…
IBBI Proposes Amendment To Boost MSME Participation In Insolvency Resolution
Date 8/27/2024 4:23:43 AM (MENAFN– KNN India) New Delhi, Aug 27 (KNN) The Insolvency and Bankruptcy Board of India (IBBI) has put forward a significant amendment to corporate insolvency regulations, specifically targeting support for micro, small, and medium enterprises (MSMEs). This move… Read the original article here
Streamlining MSME Resolution with Registration and Disclosure Reforms
Introduction On August 23, 2024, the Insolvency and Bankruptcy Board of India (IBBI) introduced a discussion paper proposing crucial amendments to the IBBI(Corporate Insolvency Resolution Process) Regulations, 2017 (CIRP Regulations). These amendments are designed to simplify and enhance the resolution process for Micro, Small, and Medium Enterprises (MSMEs), recognizing their vital contribution…
Pharnext SCA Initiates Liquidation Proceedings
Pharnext (FR:ALPHA) has released an update. Pharnext SCA, a biopharmaceutical company focused on neurodegenerative diseases, has initiated liquidation proceedings after failing to secure funding post-conciliation. The Paris Commercial Court has appointed a liquidator and trading of Pharnext’s shares has been suspended. Shareholders are unlikely to receive any payment from asset sales due to the company’s…