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Vote on reorganization plan rejected; company enters bankruptcy proceedings

CITR, the judicial administrator of the Mangalia Shipyard and a leader in Romania’s restructuring and insolvency market, announces that the creditors’ meeting has rejected the proposed reorganization plan for the company. The decision marks the shipyard’s transition into bankruptcy proceedings, a phase in which current operations will be gradually halted and liquidation procedures will be…

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Insolvency process against Raheja Shilas project in Gurugram to continue: NCLAT, ETLegalWorld

Insolvency process against Raheja Shilas project in Gurugram to continue: NCLAT New Delhi, The National Company Law Appellate Tribunal (NCLAT) has declined Raheja Developers‘ plea to close the insolvency resolution process against its project Raheja Shilas in Gurugram, after observing that the issues with flat buyers have not been resolved. It further said an application…