The Ahmedabad National Company Law Tribunal (NCLT) on 29 July held that claims arising solely from a Memorandum of Settlement (MoU) or settlement agreement do not constitute “operational debt” under Section 5(21) of the Insolvency and Bankruptcy Code, 2016 (IBC), as such claims do not arise from the supply of goods or services. A Bench…
Bikemaker Accell files for insolvency four years after €1.8bn KKR-led buyout Financial Times Read the original article here
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Ski Yodl Ltd, founded in March 2018, offered ski holiday packages to destinations including the French Alps. The company’s LinkedIn profile described it as “a collective of ski industry professionals driven to create a customer-centric booking experience with skiing at its core”. All holiday packages cancelled as Ski Yodl enters liquidation After eight years, Ski…
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Accell UK and Ireland, part of the Netherlands-based Accell Group, filed a notice of intention to appoint administrators as the wider group kick-started insolvency proceedings. The company bought Raleigh in 2012 for around 100 million US dollars (£74 million), adding to its roster of bike brands throughout Europe including Haibike, Winora and Ghost. The 139-year-old…
TS Travels Group, which began operating in 2015, describes itself as a “leading coach and minibus hire company”. It provided “reliable and affordable transport solutions across the UK and Europe”. UK travel company enters liquidation with no new trips Now, after 11 years, TS Travels Group, based in West Yorkshire, is set to close. The…
Madrid – It appears to be the end of the road for Altonadock’s 16-year journey as a specialist menswear brand. The company has filed for voluntary administration. Furthermore, it has been requested and agreed that the process will proceed directly to the liquidation phase. The fashion brand was launched around 2010 by entrepreneur Ángel Ortega,…
A liquidator was appointed to the company after court action was taken by His Majesty’s Revenue and Customs. A petition was presented to Paisley Sheriff Court for HMRC in relation to AllAbout Transport Limited, listed at Manse Court. It called for the company to be wound up and for a liquidator to be appointed. James Stephen,…
Forshaw Demolition is a family-owned business that has operated for 23 years and boasts more than 80 years of combined experience. It provides services such as asbestos removal, industrial decommissioning, and the dismantling of concrete and steel structures, including road and rail bridges. The company also delivers residential, city centre, and high-rise demolition projects. The…