Simon Edel, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon: “Today’s insolvency figures illustrates how the challenging trading conditions facing UK companies is translating into distress. Company insolvencies in Q2 and Q3 2023 reached their highest level since Q2 2009, whilst administrations saw a 58% year-on-year uplift. “Since the pandemic, insolvency activity had been heavily…
When independent supermarket startup Supie went bust last month, the company’s 120 employees were told they wouldn’t be paid for their last two weeks of work, or receive any of their owed annual leave pay. The subsequent appointment of voluntary administrators again highlighted New Zealand’s limited protection for employees when their employer becomes insolvent. Supie’s…
New Delhi: The National Company Law Tribunal (NCLT) has directed initiating insolvency proceedings against Himalayan Mineral Waters, allowing Jammu & Kashmir Bank’s plea for default of a corporate guarantee given for LeeL Electricals. The Allahabad bench of NCLT has also appointed Bhoopesh Gupta as the interim resolution professional (IRP) for this Dehradun-based firm’s Corporate Insolvency…
From funding the corporate insolvency resolution process (CIRP) of bankrupt companies to providing financial support to fight arbitration suits or even helping companies find sector expert lawyers for fighting costly disputes, a clutch of litigation funding startups are offering a range of services in the third-party funding market in India. Startups such as LegalPay, LitiCap,…
On 16 July, the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by the Board of Control for Cricket in India (BCCI) against Think & Learn Pvt Ltd, the parent company of Byju’s, for allegedly defaulting on dues worth ₹158 crore. This is the latest in a series of setbacks for the online…
Mumbai: NCLT Rejects Application Filed Against Future Lifestyle By Mohan Clothing Company MSN Read the original article here
Owner of Colette goes into voluntary administration MSN Read the original article here
Impact Of Delays In Insolvency Resolution On The Economy BW Legal World Read the original article here
Mumbai: NCLT Rejects Application Filed Against Future Lifestyle By Mohan Clothing Company | Representative pic The National Company Law Tribunal (NCLT) has declined a request from Mohan Clothing Company, the manufacturer of the ‘Blackberrys’ and ‘Blackberrys Casual’ apparel brands, to compel Future Lifestyle Fashions Group, currently undergoing insolvency proceedings, to return over 11,696 items of…
Hercules Site Services Plc (GB:HERC) has released an update. Hercules Site Services Plc has disclosed that Robin Stevens, their Non-Executive Director, is facing a potential conflict of interest as the company he joined as a Non-Executive Director, East Imperial PLC, is entering liquidation. This information was released in compliance with AIM Rule 17 and Schedule…