(File image: Reuters) Venugopal Dhoot, former promoter of Videocon Group, has moved before the NCLAT, challenging an order of the insolvency court NCLT approving Rs 2,962 crore takeover bid by Anil Agarwal’s Twin Star Technologies for 13 companies of the debt-ridden group. Dhoot, in his petition filed before the National Company Law Appellate Tribunal (NCLAT)…
The latest amendments to the IBC, 2016 allow the use of pre-packs to resolve insolvency proceedings involving micro, small and medium-scale enterprises. A pre-pack is a way of resolving the troubles of creditors and owners of a distressed business. What are the amendments to the Insolvency and Bankruptcy Code passed by Parliament and will it…
On 20 July 2021, the Hong Kong Court of First Instance granted an application by Hong Kong liquidators to issue a letter of request for assistance to the Shenzhen Intermediate Peoples Court. This was the first application made under the new cross-border cooperation mechanism, which we reported in a previous note (click here). Background The…
Just a week after spruiking a $1.3 million cash splash, the Moree Artesian Aquatic Centre has gone into liquidation. The notice of liquidation was published on the ASIC site on Thursday, the same day the Moree Plains Shire Council received a confidential “legal update” during closed council at their extraordinary meeting. The information on the…
Tamworth charity One of a Kind Community Support faces allegations it traded insolvent and that managers misspent thousands of dollars before the organisation went into administration in 2019, according to the report of a voluntary administrator published this week. The 49-year-old charity was forced to sell almost all its assets, including several buildings it owned,…
Tamworth charity One of a Kind Community Support faces allegations it traded insolvent and that managers misspent thousands of dollars before the organisation went into administration in 2019, according to a voluntary administrator report published this week. The 49-year-old charity was forced to sell almost all of its assets, including several buildings it owned. It…
In the groundbreaking recent decision in Re Samson Paper Company Limited (in Creditors Voluntary Liquidation) [2021] HKCFI 2151 (Samson), the Hong Kong Companies Court (the Hong Kong court) has for the first time issued a letter of request to a court in mainland China under the new cross-border mutual recognition, assistance and cooperation arrangement between…
Insolvency Law in Review and Insolvency and Bankruptcy Code,2016- June 2021 Top Begin typing your search above and press return to search. Read the full article at: https://www.livelaw.in/columns/insolvency-and-bankruptcy-code-2016-law-national-company-law-tribunal-178429
Law360, London (July 29, 2021, 5:28 PM BST) — Victoria’s Secret’s U.K. business move from administration into liquidation in June was valid, a London judge ruled on Thursday, after concerns were raised over a typographical error on the paperwork. Judge Sally Barber signed off an order declaring that the liquidators of Victoria’s Secret UK Ltd.…
Tamworth charity One of a Kind Community Support faces allegations it traded insolvent and that managers misspent thousands of dollars before the organisation went into administration in 2019, according to the report of a voluntary administrator published this week. The 49-year-old charity was forced to sell almost all its assets, including several buildings it owned,…