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…
Major auto parts brand moves Chapter 11 bankruptcy to liquidation MSN Read the original article here
Major auto parts brand moves Chapter 11 bankruptcy to liquidation TheStreet Read the original article here
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A Christchurch takeaway and restaurant business with sushi outlets under the Hachi Hachi brand has folded owing staff holiday pay and a hefty tax bill. The seven companies owned by Hachi Hachi founders and directors Titi Khemarangsan and Bundit Kijpalakorn were placed in voluntary liquidation on March 25. Initial liquidator reports for the businesses amounted…
A meat works in Gore, previously home to a Japanese Wagyu beef operation which went into liquidation late last year, has been sold. The works went up for sale in February just a matter of weeks after companies associated with the operation went into liquidation. Black Origin Meat Processors (Gore) Ltd was put into liquidation…
The liquidation process commenced on 27 March 2025. Credit: Wirestock Creators/Shutterstock. Cosmetics and beauty retailer The Body Shop’s operations in New Zealand have entered liquidation, resulting in the cessation of all storefront operations… Read the original article here
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 Adjudicating Authority cannot suo moto amend the date of default mentioned in the insolvency application unless an amendment application is filed; otherwise, it would…
The National Company Law Appellate Tribunal (NCLAT) Chennai bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Jatindranath Swain (Technical Member) has held that the order passed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (Code), directing the liquidation of the corporate debtor, cannot be set aside once the Successful Auction Purchaser…