Date published: 10 April 2025 The Department for the Economy (the Department) has accepted a disqualification undertaking from the director of a company involved in fitness facilities. The undertaking was received for seven years from Michael John Lennon (40) of Upper Springfield Road, Belfast, in respect of his conduct as director of Hybrid Fitness NI…
Hanmer building company’s debt to unsecured creditors rises to $1.2m The Press Read the original article here
Fresh debt fight for Zorzi-linked business The West Australian Read the original article here
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that statutory obligations must be fulfilled during insolvency proceedings; however, this does not mean that statutory dues including provident fund claims can be submitted even after…
VerSe Innovations Private Limited, a reputed Bangalore-based technology company, formally files the application initiating personal insolvency proceedings under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 against Akshay Bardapurkar, a producer from the Marathi film industry and the face of Planet Marathi, alleging serious financial default and breach of contractual commitments. The matter relates…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Naresh Salecha (Technical Member) has held that when the extended Corporate Insolvency Resolution Process (CIRP) period has expired and no resolution plan has been approved, it is incumbent upon the Resolution Professional to file an application…
NCLAT Dismisses IDBI Bank’s Insolvency Appeal against ZEE Moneylife Read the original article here
As established in the Ghanaian landmark case Salomon v. Salomon , when a company is incorporated, it becomes a separate legal entity with perpetual succession. This means the company continues to exist even if its members or officers leave, due to death or other reasons. However, companies can face challenges and may need assistance to…
He was referring to American business Arena, which loaned money for Wattle Park. The liquidators said the company owes $3.6m to Kiwibank as the first-ranking mortgagee and $1.09m to Inland Revenue. The IRD debt is unpaid GST on apartment sales, including interest and penalties being charged for outstanding amounts, they noted. Arena is the second-ranking…
Against the backdrop of global economic instability, the number of insolvencies worldwide recorded a 19% increase in 2024 compared to the previous year, according to the latest Atradius report “Insolvencies normalise, but trade war brings new risks”, published in April 2025. The analysis, covering 29 global markets, highlights a trend toward a return to pre-pandemic levels,…