New Delhi: As many as 28,818 applications for initiation of the Corporate Insolvency Resolution Process (CIRP), having an underlying default of Rs. 10.22 lakh crore, were resolved before their admission till March 2024 due to the behavioural change in debtor-creditor relationship effectuated by the Insolvency and Bankruptcy Code (IBC), according to the Ministry of Corporate…
Rose Kenney, Gianni La Cava and David Rodgers November 2016 1. Introduction We explore the determinants of corporate failure in Australia. Our paper is motivated by two observations: corporate failure is closely linked to financial stability risks, and it is also associated with fluctuations in the business cycle. Despite these close links, there has…
Key points for asset-based lenders We explore the implications for the Act in the context of asset-based lending below. Key points to note are: The Act introduces a new “moratorium” procedure allowing eligible companies to continue to trade whilst being protected from creditors who may not take enforcement steps against them. The moratorium…
The Supreme Court has held that any delay in arriving at the conclusion that the company is to be liquidated is detrimental to a Company, especially when the Company has long awaited timely and positive action from the successful resolution applicant as regards the implementation of the approved resolution plan. The court added that liquidation…
IBC speeded up recovery of Rs 10.22 lakh crore from defaulting firms: Govt Daijiworld.com Read the original article here
Australian property group behind 41-level Gold Coast tower enters administration MSN Read the original article here
Preserve Health Pty Ltd appointed liquidators on Monday, bringing a seven-year journey to an end for its “sports hydration system” PREPD. Anthony Phillips from Heard Phillips Lieberenz was appointed liquidator of the Tonsley Innovation Centre-based company after shareholders voted in favour of a voluntary windup. The company was solvent at the time of liquidation and…
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BAKU, Azerbaijan, December 28. Azerbaijan’s Avirtelecom Limited Liability Company (LLC) has announced its liquidation, Trend reports via the “Taxes” online newspaper of the State Tax Service under the Ministry of Economy. The creditors were required to contact the following address within two months: AZ1106, Baku city, Narimanov district, Araz str., building 50C. To note, the…
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