Sears, Kmart get possible reprieve from liquidation as company announces more store closings – Albany Times Union
… Read the full article at: https://www.timesunion.com/news/article/Sears-Kmart-could-be-liquidated-with-no-bid-to-13494172.php
Insolvency & Bankruptcy Code – 2018 Annual Round Up – Live Law
The year 2018 also witnessed major changes in the field of Insolvency and Bankruptcy Code(IBC). While the year 2017 witnessed SC explaining the basic concepts of the nascent legislation, the year 2018 saw SC addressing more complex issues in relation to it. The significant decisions of 2017 wereInnoventive Industries v ICICI LtdandMobilox Innovations Pvt Ltd…
Strengthen NCLT infrastructure to speed up resolutions: RBI – Economic Times
Mumbai: The central bank has called for strengthening the infrastructure at the National Company Law Tribunals (NCLT) to ensure time-bound resolution of stressed-asset loans in the banking sector, where the problem of mounting bad debt has prompted curbs on the normal operations at several high-street lenders. In its Trends and Progress in Banking for 2017-18…
RBI has called for better NCLT infratsructure for time bound resolution of stressed assets – Economic Times
The Reserve Bank of India has called for strengthening the National Company Law Tribunal(NCLT) infrastructure to ensure time bound resolution of stressed assets of the banking sector. Better resolution will also depend on the future of loan repayment culture, it said In its ` Trends and Progress in Banking for 2017-18 released on Friday, in…
Sears may be down to its last 24 hours. Iconic retailer likely liquidates if no bid comes in tomorrow. – CNBC
Sears, the 125-year-old icon, has 24 hours to survive. The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party…
Company behind Richmond hotel to be liquidated just months after opening – The Northern Echo
THE COMPANY behind the renovation of a historic Richmond hotel is set to be liquidated with debts of more than 230,000. Best Friend Limited, the trading name for The Fleece Hotel, is to be placed in a creditors voluntary liquidation. The papers reveal there are 71 creditors, including members of staff, suppliers, directors and others,…
SRS LTD. – Corporate Insolvency Resolution Process (CIRP)-List of Creditors – The Hindu BusinessLine
Updated List of Creditors of SRS Limited displayed under Regulation 13(2)(c) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 pursuant to Regulation 30 read with Clause 16(e) of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pdf Link: SRS LTD. – Corporate Insolvency Resolution…
NCLT helps recover Rs 80,000 crore in 2018; Kitty may cross Rs 1-lakh crore in 2019 – Business Today
Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings involving more than Rs 80,000 crore in the year passing-by and the kitty is expected to swell beyond Rs 1 lakh crore in 2019 with several big-ticket default cases pending. Plans are afoot to further…
Patanjali says still interested in Ruchi Soya, lead bidder Adani Wilmar raises asset concerns – Livemint
Ramdev. Photo: Pradeep Gaur/Mint New Delhi: Baba Ramdevs Patanjali Ayurved is still interested in taking over bankruptcy-bound Ruchi Soya after the highest bidder Adani Wilmar wrote to resolution professional raising concerns over deterioration of asset quality of the edible oil firm due to delay in completion of the insolvency process. In December 2017, Indore-based Ruchi…
Richa Industries Ltd. – Corporate Insolvency Resolution Process (CIRP)-Appointment of Interim Resolution Professional (IRP) – The Hindu BusinessLine
We wish to inform you that Honble NCLT Chandigarh Bench, vide its order dated 21st December, 2018 in CP(IB)No 80/CHD/Hry/2018, on an application filled by M/s Tata Blue Scope Limited under section 9 has initiated the Corporate Insolvency Resolution Process in respect of the Corporate Debtor Richa Industries Limited.The Honorable Adjudicating Authority has appointed the…