GuocoLand Limited Announces Liquidation of Dormant Subsidiary – TipRanks
GuocoLand Limited Announces Liquidation of Dormant Subsidiary TipRanks Read the original article here
Lender open to giving Hudson’s Bay more time to save 6 stores so far spared from liquidation
One of Hudson’s Bay’s lenders says it’s willing to back changes to a restructuring agreement that would give the retailer more time to find a way to save six stores it has so far spared from liquidation. A lawyer for Restore Capital LLC says his client is open to revising a deadline that would force…
Clothing retailer Jeanswest collapses, with 90 stores to close and hundreds of jobs lost
Clothing retailer Jeanswest has collapsed, with more than 90 stores set to close within months and hundreds of employees set to lose their jobs. The company confirmed the news on Wednesday, with administrators citing increasingly tough trading conditions in the Australian retail sector. Jeanswest entered administration in January 2020, but was rescued by Hong Kong…
Meetings and Events Australia enters voluntary administration after 50 years
79680 Meetings and Events Australia (MEA), the country’s longest-standing industry body for the events sector, will be entering voluntary administration after 50 years of service to the events industry. MEA will cease operations and appoint an administrator with MEA noting that rising operating costs and declining financial backing had made it unsustainable. These challenges were…
Adding Inflated Interest To Outstanding Liability Merely To Cross Threshold U/S 4 Of IBC Is Not Permissible: NCLAT
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 the interest cannot be added to the outstanding liability when there is no contract between the parties to this effect and no past practice justifying…
Meetings and Events Australia to enter voluntary administration after 50 years of service
Australian industry association Meetings and Events Australia (MEA) has announced it will be entering Voluntary Administration after 50 years of service. The country’s longest-standing industry body for the events sector announced it will cease operations, and an administrator has been appointed. The announcement comes in the MEA’s 50th anniversary year. The MEA National Conference, due…
Meetings and Events Australia enters voluntary administration after 50 years
79680 Meetings and Events Australia (MEA), the country’s longest-standing industry body for the events sector, will be entering voluntary administration after 50 years of service to the events industry. MEA will cease operations and appoint an administrator with MEA noting that rising operating costs and declining financial backing had made it unsustainable. These challenges were…
Deals of the Year 2024 | India Law firm deals
IBLJ showcases 50 of the most interesting and significant deals from 2024, and reveals the lawyers and law firms that guided them India witnessed a dynamic year of deal-making in 2024, driven by a booming IPO market and swift transactions. The Economic Survey 2024-25, produced by the Ministry of Finance, has highlighted steady manufacturing growth,…
NCLT Mumbai Dismisses Syska LED Lights’ Plea For Withdrawal Of Insolvency Application U/S 12A Of IBC
The National Company Law Tribunal (NCLT), Mumbai bench comprising K.R. Saji Kumar (Judicial Member) and Anil Raj Chellan (Technical Member) has dismissed the withdrawal application filed under Section 12A of the Insolvency and Bankruptcy Code (IBC/Code) in the insolvency proceedings of Syska LED Lights Pvt. Ltd (Corporate Debtor). The Tribunal held that once a Corporate…
BoI classifies Rs 616-crore loan to Rolta India Ltd as fraud
Bank of India has classified its Rs. 616.30 crore exposure to debt-ridden Rolta India Ltd as fraud, according to a regulatory filing submitted under SEBI (LODR) Regulations, 2015. The disclosure comes while the company undergoes the Corporate Insolvency Resolution Process (CIRP) under India’s bankruptcy law. Rolta India’s Insolvency Status The National Company Law Tribunal (NCLT),…