A lifeline for struggling businesses in the United Kingdom the most significant insolvency reforms for a generationCorporate Insolvency and Governance Act 2020The Corporate Insolvency and Governance Act 2020 (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least,…
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York-based family owned business, Riccall Carers Ltd, has ceased trading after more than 20 years of providing home care for vulnerable and elderly people throughout York and Selby. The business was established in 1998 and provided personal care home visits to around 180 private and local authority-funded clients in the region. It held contracts with…
OXLEY HOLDINGS LIMITED (Incorporated in the Republic of Singapore under Registration No. 201005612G) UPDATE ON SUBSIDIARIES UNDER VOLUNTARY ADMINISTRATION IN AUSTRALIA The Board of Directors of Oxley Holdings Limited (the “Company“, and together with its subsidiaries, the “Group“) refers to the announcement on 18 May 2021 relating to the appointment of voluntary administrators by the…
Bankruptcy tribunal NCLT has raised doubts over “confidentiality” of the liquidation valuation of the assets of Videocon Industries and its 12 group companies during the insolvency process. The tribunal has asked the Insolvency and Bankruptcy Board of India (IBBI) “to examine this issue in depth” to ensure that the confidentiality clause is followed without any…
Around 200 applications for resolution of stressed assets have been filed under the insolvency law since the suspension of fresh proceedings ended on March 24, according to IBBI. Amid the coronavirus pandemic that had significantly impacted economic activities, certain provisions under the Insolvency and Bankruptcy Code (IBC) were suspended with effect from March 25, 2020.…
Mantra Properties & Developers and Solitaire group are among the three companies which have submitted their bids to acquire Pune-based listed realty firm D S Kulkarni Developers through the insolvency process. In September 2019, the National Company Law Tribunal (NCLT), Mumbai Bench ordered the commencement of corporate insolvency resolution process (CIRP) in respect of D…
Bankruptcy tribunal NCLT has raised doubts over “confidentiality” of the liquidation valuation of the assets of Videocon Industries and its 12 group companies during the insolvency process. The tribunal has asked the Insolvency and Bankruptcy Board of India (IBBI) “to examine this issue in depth” to ensure that the confidentiality clause is followed without any…
The Mumbai bench of the National Company Law Tribunal (NCLT) has questioned the haircut that creditors have to take in the Videocon Industries Ltds (VIL) resolution plan. The resolution applicant was paying close to the liquidation value to acquire the company, the tribunal noted in the order approving the resolution plan submitted by Anil Agarwals…
Bellway’s Share Price Looks Well Supported House builder Bellway’s share price should be well underpinned by the expected delivery of growth over the medium term and a decent dividend payout, Canaccord Genuity says. Bellway has guided for a higher average selling price for fiscal 2021 and pretax profit consensus forecasts for the year are likely…