In the third quarter of 2023, the number of bankruptcy declarations of EU businesses decreased by 5.8% compared with the previous quarter. Overall, the number of bankruptcy declarations in 2023 has been higher since the pre-pandemic period (i.e. the fourth quarter of 2019). In the same period, registrations of new businesses slightly increased for the…
The insolvency regulator – Insolvency and Bankruptcy Board of India (IBBI) – has proposed mandatory disclosures about the status of a corporate debtor, being registered or not, as an MSME (micro, small or medium enterprise) in accordance with the provisions of the Micro, Small and Medium Enterprises Development Act, 2006. The regulator has also proposed…
Recognising the differences between micro, small and medium enterprises and larger corporates, the Insolvency and Bankruptcy Board of India (IBBI) has proposed that any firm undergoing insolvency proceedings should disclose its status. It is proposed to amend Regulation 36 of the CIRP Regulations for making disclosures about the status of the corporate debtor, being registered…
Aussie influencer’s fashion brand collapses into administration MSN Read the original article here
Australian battery storage developer enters voluntary administration Energy News Bulletin Read the original article here
Queensland battery developer Redflow has entered voluntary administration after failing to attract the equity support required to pursue its growth plans. Headquartered in Brisbane, Redflow designs zinc-bromine flow batteries and manufactures them in Thailand for commercial, industrial, and utility applications. The company said it had received significant commercial interest in its X10 battery and it was…
Lead time for insolvency resolution increases MSN Read the original article here
August 23, 2024August 23, 2024 Adani Power Ltd announced that they have received approval from the National Company Law Tribunal (NCLT) Hyderabad Bench for its Rs 4,101 crore resolution plan to acquire Lanco Amarkantak Power Ltd. This acquisition is a part of Lanco Amarkantak Power Ltd’s ongoing Corporate Insolvency…
The average time taken for the conclusion of the corporate insolvency resolution process (CIRP) has surged to 680 days, as of March 2024, from 611 days a year ago, official data shows. This primarily reflects the huge backlog of cases that the NCLT is finding difficult to grapple with, say experts. Finance Minister Nirmala Sitharaman…
Major construction company goes into voluntary administration MSN Read the original article here