The Supreme Court has held that liabilities arising from corporate guarantees squarely constitute “financial debt” within the meaning of Section 5(8) of the Insolvency and Bankruptcy Code, 2016 (IBC). In a significant win for the State Bank of India (SBI) consortium, the Court held that the mere non-disclosure of such guarantees in a debtor’s financial…
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REVEALED: Latest business liquidations in Casey Herald Sun Read the original article here
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Out of business: Apiwe Nxusani-Mawela of Brewsters Craft, an agro-processing and beverage manufacturing company that shut down after the Covid-19 pandemic. Photo: Supplied Amid growing calls for an inquiry into the Industrial Development Corporation (IDC), entrepreneurs in distress are speaking about their experiences with the state-owned lender. The push follows appeals by theNational African Federated…
Pukka Pies supplier set to close after 27 years as it falls into liquidation Bromsgroveadvertiser.co.uk Read the original article here