Insolvency and Bankruptcy Code, 2016 Spreading its wings – Moneycontrol.com

Luckyraj Indorkar Its been less than two years that the Insolvency and Bankruptcy Code, 2016 (IBC) came into force. National Company Law Tribunal (NCLT) which acts as adjudicating authority and Insolvency Resolution Professional (IRP) appointed under the code are bound by timelines to dispose of an application for corporate insolvency process. Initially, the parties and…

Toys ‘R’ Us starts liquidation sales as company prepares to close 24 California stores – Sacramento Bee

Financially slumping Toys R Us began sales at select locations this week as the company prepares to close about 150 stores 24 of them in California according to a press release by one of the firms operating the liquidation sales. Though the press release does not specify which locations are participating, liquidation will lead to…

Limelight Magazine looks for buyer as parent company teeters toward liquidation – MuMbrella

Arts Illuminated, the publisher of classical music magazine Limelight, is searching for a buyer for its masthead as the company teeters towards liquidation. I couldnt weather the monthly highs and lows anymore, publisher Andrew Batt-Rawden told Mumbrella yesterday. I started the company in debt, and as a starving artist I had no assets to borrow against.…