Streamlining MSME Resolution with Registration and Disclosure Reforms

Introduction On August 23, 2024, the Insolvency and Bankruptcy Board of India (IBBI) introduced a discussion paper proposing crucial amendments to the IBBI(Corporate Insolvency Resolution Process) Regulations, 2017 (CIRP Regulations). These amendments are designed to simplify and enhance the resolution process for Micro, Small, and Medium Enterprises (MSMEs), recognizing their vital contribution…

Pharnext SCA Initiates Liquidation Proceedings

Pharnext (FR:ALPHA) has released an update. Pharnext SCA, a biopharmaceutical company focused on neurodegenerative diseases, has initiated liquidation proceedings after failing to secure funding post-conciliation. The Paris Commercial Court has appointed a liquidator and trading of Pharnext’s shares has been suspended. Shareholders are unlikely to receive any payment from asset sales due to the company’s…

Bitcoin Mining Firm Ionic Faces Potential Liquidation By Celsius Creditors

Ionic Digital Inc., a Bitcoin mining company co-owned by former Celsius clients, faces potential liquidation as shareholders grow frustrated with financial delays and management changes. Liquidation Concerns Grow Amid Financial Difficulties Some creditors are considering liquidation owing to worries about management and financial difficulties at Bitcoin mining company Ionic Digital Inc.,…