Jet Airways will reportedly recommence operations in the first quarter of 2022 under new owners the Jalan-Kalrock consortium more than two years after it shuttered amid financial woes. Indian news reports, citing consortium lead member and businessman Murari Lal Jalan, say the carrier will resume domestic operations first, before expanding to short-haul destinations in the…
The Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) has to be completed within the 330-day deadline prescribed under the law, the Supreme Court ruled on Monday (Ebix Singapore v. Committee of Creditors of Educomp), according to a news report. “Judicial delay was the reason why the earlier insolvency regime failed…
The wife of a man who died after plunging from a zip-line in Far North Queensland has launched a multi-million-dollar lawsuit against those she holds responsible. Key points: The family of zip-line victim launch a multi-million-dollar lawsuit in Cairns court Adelaide man Dean Sandersondied after falling while on the Jungle Surfing Canopy Tours apparatus His…
Luxury marketplace Reebonz has reportedly caved under liabilities estimated to be around SG$65 million and according toThe Business Timeshas appointed a provisional liquidator to wind up the company. Co-founder Samuel Lim took out notices in BT on 10 September to alertcreditors that Reebonz is “in creditors’ voluntary liquidation”. Lim explained in the notice that Reebonz…
THE GOVERNMENT has appointed 31 members to the Benches of the National Company Law Tribunal (NCLT) and the Income Tax Appellate Tribunal (ITAT) after the Supreme Court urged the government to fill vacancies immediately. The Appointments Committee of the Cabinet approved the appointment of eight judicial and 10 technical members to the NCLT as well…
Share of insolvency process initiated by debtors declining over time – Sentinelassam x Begin typing your search above and press return to search. We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and…
The share of #corporate insolvency resolution processes (CIRP) initiated by corporate debtors themselves have declined over the years since the inception of the Insolvency and Bankruptcy Code (IBC). pic.twitter.com/ID18dQz0OM IANS Tweets (@ians_india) September 11, 2021 (SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and…
The share of corporate insolvency resolution processes (CIRP) initiated by corporate debtors themselves have declined over the years since the inception of the Insolvency and Bankruptcy Code (IBC). Data from the Insolvency and Bankruptcy Board of India (IBBI) showed that as of March 2017, out of the total CIRPs, seven were triggered by operational creditors,…
Law360, London (September 9, 2021, 12:03 PM BST) — The government said on Thursday that it will end in October a COVID-19 relief measure that protects companies from enforcement action by creditors but will bring into play targeted measures to support small businesses seeking to get back on their feet after the pandemic. The Insolvency…
Temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1 October. Companies in financial distress as a result of the pandemic have been protected from creditor action since June last year, through the Corporate Insolvency and Governance Act 2020. This was to ensure that viable businesses affected…