Structural Weakness in the Insolvency and Bankruptcy Code (IBC) The Ministry of Corporate Affairs seeks Cabinet approval for 50 additional National Company Law Tribunal (NCLT) courts and two more National Company Law Appellate Tribunal (NCLAT) Benches. This move highlights a longstanding structural weakness affecting the effective functioning of the Insolvency and Bankruptcy Code (IBC). Capacity…
First Brands at breaking point as it scrambles to avoid liquidation Financial Times Read the original article here
Even before Brazil’s insurance regulator, the Superintendence of Private Insurance (SUSEP), ordered the liquidation of Goiás-based Infinite last week, companies operating in the surety insurance market had already begun talks to create a self-regulatory system in what would be an unprecedented initiative in the country. Although Infinite held only around 0.5% market share, the case…
Liquidators said Green withheld information, changed contact details and indicated plans to relocate overseas. “This non-cooperation limited the liquidator’s ability to fully assess the company’s financial position,” the final liquidator’s report said. The company has since been removed from the Companies Register owing creditors about $187,000. Meanwhile, Scaffold Alchemy Limited director Marcus Kennerley was also…
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (No. 6 of 2026), which received Presidential assent on 6 April 2026, represents the most comprehensive legislative overhaul of India’s insolvency framework since the Code’s enactment in 2016. By notification dated 22 May 2026, the Ministry of Corporate Affairs appointed 26 May 2026 as the date of…
Punj Lloyd board to meet on June 1 to approve FY26 results scanx.trade Read the original article here
The NAGP has entered into voluntary liquidation, GP members have been informed. In an official member update from NAGP Directors Drs Andrew Jordan and James Stacey, issued at lunchtime today (Wednesday 22 May), it was announced the trade union’s holding company (NAGP) had entered voluntary liquidation with “regret and a heavy heart”. The “business part”…
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The case of Enyuka Prop Holdings (Pty) Ltd v United Merchants CC and Others 2025 JDR 2947 (GJ) untangles a web of what the court described as “collusive dealings” between two related close corporations, United Merchants CC (United) and Truval Manufacturers CC (Truval). This judgment is important because it shows that the courts are prepared to “untangle…