Category Archives: Liquidation

Simultaneous CIRP Proceedings Against Principal Debtor and Corporate Guarantor are Maintainable: Supreme Court rules in favour of ICICI Bank [Read Judgement]

The Supreme Court of India, while deciding a batch of appeals involving ICICI Bank and SBI, held that simultaneous Corporate Insolvency Resolution Process (CIRP) proceedings against a principal debtor and its corporate guarantor are maintainable under the Insolvency and BankruptcyCode (IBC), 2016. The appeals arose from conflicting orders by the NCLAT and NCLT regarding the…

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Singapore court allows winding-up of BVI firms linked to 1MDB, enabling claims against banks

KUALA LUMPUR (May 15): The Singapore High Court has allowed the winding-up of several British Virgin Islands (BVI) entities linked to the 1Malaysia Development Bhd (1MDB) scandal, enabling liquidators to pursue statutory claims against Standard Chartered Bank Singapore and BSI Singapore in Singapore. In a statement on Friday, Angela Barkhouse and Toni Shukla, joint liquidators…

The rise of CoC Raj: Efficiency at what cost? – Bar and Bench

The rise of CoC Raj: Efficiency at what cost?  Bar and Bench Read the original article here

Priceline franchise rescue deal abandoned by Wesfarmers at the last hour

Wesfarmers abruptly called off plans to support the largest franchisee in its Priceline pharmacy network before surprising lenders by pushing it into receivership, leaving creditors owed more than $400 million. The Perth-based conglomerate, in a plan it called Project Coral, was close to providing an equity injection for Infinity Pharmacy Group, reconfiguring its debt and…

Leon closes 23 restaurants after falling into administration

Leon, founded in London in 2004, built its reputation on a menu of “naturally fast food”, offering salads, wraps, hot boxes and breakfast dishes marketed as a fresher, healthier alternative to traditional fast food. The chain expanded rapidly in city centres, railway stations and transport hubs, but has struggled in recent years with rising costs…

REVEALED: Latest business liquidations in Brisbane – The Courier Mail

REVEALED: Latest business liquidations in Brisbane  The Courier Mail Read the original article here

40-year-old national engineering firm in liquidation – Daily Telegraph Sydney

40-year-old national engineering firm in liquidation  Daily Telegraph Sydney Read the original article here