Under the Companies Act, 2013, preference shares carry a statutory right to priority repayment of capital upon winding-up, meaning preference shareholders rank ahead of equity shareholders by default. A similar priority framework is reflected in the IBC waterfall. That said, both these statutory positions can be modified through a company’s articles of association, and neither…
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All the Swindon firms that have just gone into liquidation Swindon Advertiser Read the original article here
In a rare Chapter 11 outcome, InVivo Therapeutics shareholders receive a final distribution of ~$0.60 per share, exceeding estimates, after all creditor claims were satisfied. The final act of the InVivo Therapeutics Holdings story is now being written. In a departure from the typical outcome in bankruptcy proceedings, where equity holders often face a total…