The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently stayed the corporate insolvency proceedings against an aviation services company after it’s suspended director offered to deposit Rs 1.09 crore, double the claimed dues of Rs. 54.03 lakh (with 15% interest), which had been pending since 2019, to demonstrate its bona fide intentions.The bench,…
Smoke and Soul Venues, based at the Old Smiddy, fell into liquidation with Middlebrooks Business Recovery and Advice appointed. The liquidator said 16 staff were made redundant, and a new entity called Smoke and Soul with the founding directors and two former workers has been created. Four former staff were taken back on. Read More:…
The municipally-owned Belgian waste management and energy group Bionerga has confirmed the closure of its plastic recycling site Fromto in Houthalen. The group cited sustained losses and mounting pressure from low-cost primary plastics and imports. The operation had been “heavily loss-making for several years”, Bionerga said. “We regret having to shut down operations, but unfortunately…
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REVEALED: Latest business liquidations in Casey Herald Sun Read the original article here
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Kross Finance Korea withdraws rehab plan as M&A falters, risks liquidation – CHOSUNBIZ Chosunbiz Read the original article here
“Poor trading conditions meant the company could not meet its debts as they fell due,” the liquidators said in their report. “A creditor had also issued a statutory demand and applied to place the company into liquidation prior to our appointment, and these proceedings were active at the time of our appointment.” The liquidators said…