Leading private sector lender ICICI Bank has filed insolvency petition against Jaiprakash Associates before the National Company Law Tribunal (NCLT). The Allahabad bench of NCLT has asked ICICI Bank to serve notice to its corporate debtor Jaiprakash Associates within three days and directed Jaypee group firm to file reply by September 17. If NCLT allows…
New Government plans to introduce reforms to the UKs corporate insolvency regime have been broadly welcomed by a regional industry expert. Alexandra Withers, North East vice chair of insolvency and restructuring trade body R3, was speaking after the Department for Business, Energy and Industrial Strategy (BEIS) revealed the initial results of its wide-ranging consultation on…
But its been a tough road for the franchised salad business, which put two leasing entities for its store sites into voluntary administration in June last year as the company fought to renegotiate lease agreements with Westfield shopping centres. That process helped Sumo Salad negotiate with landlords, but one year later it called in the…
Mon, Sep 10, 2018 – 3:29 PM AN omnibus bill to update various aspects of Singapore’s insolvency and debt restructuring laws was introduced in Parliament on Monday. One of the main objectives of the Insolvency, Restructuring and Dissolution Bill is to consolidate the personal and corporate insolvency and restructuring laws, which are in two separate…
A single homebuyer can proceed with filing an application under Section 7 of I&B Code 2016 against the developer. Photo: Aniruddha Chowdhury/Mint After much deliberations in June 2018 by way of ordinance, an amendment was made in the Insolvency and Bankruptcy Code 2016 (I&B Code 2016) wherein apart from other changes, homebuyers were recognised as…
MUMBAI: Realty developers cannot use the force majeure clause for financial crisis and lack of approvals in any project, ruled the Maharashtra Real Estate Regulatory Authority in a recent order against Hindustan Construction Companys subsidiary Lavasa Corporation. In a matter related to a homebuyer Mudhit Guptas complaint against Lavasa seeking refund and compensation for failing…
Reported by Bikebiz, news has broken over the weekend of the voluntary liquidation of Factory Media Ltd, owners of multiple sports media brands including Total womens Cycling, Dirt, RCUK and RideUK. Accountants, Chamberlain & Co, have been appointed to oversee the liquidation. While the Factory Media company itself was sold to Forward Internet Holdings in 2012…
Factory Media, the parent company of fifteen websites and magazines, including six cycling titles, is entering liquidation, road.cc has learned. Factory, which was founded in 2006, owned and operated Road Cycling UK, Total Womens Cycling, Ride UK, Dirt Mountain Bike and Bike Magic, all of which are likely to close following the news. In a…
Residents in apartments bound in combustible cladding fear they will have no option but to pay millions of dollars to make their homes safe again, after construction company Hickory placed its subsidiary, H Buildings, into voluntary administration. Key points: A major Melbourne building company facing millions of dollars in claims for combustible cladding has…
Residents in apartments bound in combustible cladding fear they will have no option but to pay millions of dollars to make their homes safe again, after construction company Hickory placed its subsidiary, H Buildings, into voluntary administration. Key points: A major Melbourne building company facing millions of dollars in claims for combustible cladding has…