A family-run business in the Midlands, Thomas Kitchens, is now in the process of liquidation after more than four decades of operation. The Kitchen renovator, based in Nuneaton, has faced a struggling market and is now selling its assets through an online auction. Kumar and Company has been appointed by insolvency practitioners Poppleton & Appleby…
The move came after Nishant Pitti-backed airways showed interest in acquiring the airline, citing reasons like Go First’s valuable intangible assets, including its Directorate General of Civil Aviation (DGCA) license. Busy Bee had initially shown interest in acquiring Go First and had moved a bid worth Rs 1,600 crore for the same. But later, as…
Even as the National Company Law Appellate Tribunal (NCLAT) on Friday upheld the liquidation order for Go First Airways, it has paved the way for a potential revival—at least in part—by allowing EaseMyTrip co-founder Nishant Pitti’s company to propose an asset buyout scheme. The appellate tribunal dismissed a batch of appeals, including one filed by…
Assets of family-run kitchen business to be sold amid liquidation Insider Media Ltd Read the original article here
Major auto parts brand moves Chapter 11 bankruptcy to liquidation MSN Read the original article here
The National Company Law Appellate Tribunal (NCLAT) on Friday rejected a plea by Busy Bee Airways, backed by EaseMyTrip co-founder Nishant Pitti, challenging the liquidation of bankrupt airline Go First. A bench led by NCLAT chairperson Justice Ashok Bhushan upheld the National Company Law Tribunal’s (NCLT) 20 January order, which allowed Go First’s creditors to…
News – NCLAT Dismisses Appeals Against Go First Liquidation Order The Law Advice Read the original article here
Tyre group in liquidation after failing to pay employee The Courier Mail Read the original article here
On May 2, 2023, Go First filed a voluntary plea under Section 10 of the Insolvency and Bankruptcy Code (IBC), seeking admission to the Corporate Insolvency Resolution Process (CIRP). The NCLT admitted the application on May 10, appointing a Resolution Professional (RP) to manage the airline’s affairs. In response, the airline’s lessors appealed to the…
Key Insurance, a Kansas-based insurer specializing in non-standard auto, was placed into liquidation this week after a court ruled the company insolvent. The Shawnee County District Court ordered the liquidation of Key on March 31 after reviewing significant evidence that Key’s liabilities exceed its admitted assets. The court found that Key’s consistent underwriting losses, existing…