The National Company Law Tribunal New Delhi bench of Manni Sankariah Shanmuga Sundaram (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member) has rejected an application for the initiation of the Corporate Insolvency Resolution Process (CIRP) by a Senior Advocate for non-payment of Rs. 6.26 Crore legal fees. The bench noted that there exists a pre-existing…
Holy Ground Tiny Homes founder Matt Sowash looks on during a civil trial in Arapahoe County District Court on Monday, April 22, 2024. (BusinessDen file) Holy Ground Tiny Homes, a bankrupt builder in Englewood that owes $6 million to 190 former customers and was described as “a ruse” by one judge, is shutting down. The…
Billson’s Brewery has announced that the business has been placed into voluntary administration in a statement shared on social media yesterday. Billson’s Brewery was established in 1865 in Beechworth, Victoria, and is currently run by Nathan Cowan and his wife Felicity Cottrill. The beverage brand is widely known as an RTD manufacturer, but also produces…
SUMMARY The SC bench quashed the NCLAT order that approved the settlement of the INR 158.9 Cr unpaid dues BYJU’S owed to the BCCI The order came as a result of Glas Trust Company, a consortium of the startup’s aggrieved US-based lenders, moving the SC to retrieve the dues owed to them by BYJU’S Appearing…
3 min read Last Updated : Aug 14 2024 | 4:57 PM IST The Insolvency and Bankruptcy Code (IBC) has seen successful resolution in 46 per cent of the cases admitted in the real estate sector as of June 2024, the latest data by the Insolvency and Bankruptcy Board of India (IBBI) showed. Of…
Regional airline Rex has entered voluntary administration. The union for aviation workers says 610 jobs have been lost. All Rex flights between major cities have been cancelled, but the carrier’s regional services will continue to operate. Voluntary administration means a company can’t afford to pay its debts, and has appointed an independent body to take…
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MALVERN, Pa., Aug. 14, 2024 (GLOBE NEWSWIRE) — Galera Therapeutics, Inc. (Nasdaq: GRTX), a clinical-stage biopharmaceutical company historically focused on developing a pipeline of novel, proprietary therapeutics that have the potential to transform radiotherapy in cancer, today announced that its Board of Directors has approved a Plan of Liquidation and Dissolution (Plan of Dissolution), which…
Rex airlines has cancelled all flights between major city airports and grounded its domestic fleet of Boeing 737 aircraft after going into voluntary administration. The airline company is still operating its regional Saab 340 services, but its flights between major city airports have been cancelled, impacting thousands of travellers across Australia. Virgin Australia has offered…
The shares of Coffee Day Enterprises Limited were trading at ₹46.49, down by ₹2.58 (5.26 per cent) on NSE at 2 pm on Friday. Also read: Coffee Day Enterprises Q1 profit at ₹23 cr On Thursday, Coffee Day Enterprises Limited (CDEL) disclosed that the National Company Law Tribunal (NCLT) in Bengaluru has admitted an application…