Fewer companies went through the insolvency process under the Insolvency and Bankruptcy Code (IBC) in financial year (FY) 2025, according to the credit rating firm ICRA. As per the ICRA, only 724 companies were admitted for insolvency, a sharp 28 per cent drop from 1,003 in the previous year. The number of approved resolution plans…
The Madras High Court has recently held that once a resolution plan is approved under the Insolvency and Bankruptcy Code, authorities cannot proceed against any property standing in the name of a corporate debtor for offences committed before the insolvency process, even if such property is alleged to be held benami. A single bench of…
Melbourne builder collapses into liquidation over unpaid debts Herald Sun Read the original article here
NCLT Mumbai Bench Approves Ashdan Properties’ Resolution Plan for Rolta India scanx.trade Read the original article here
The Principal Bench of National Company Law Appellate Tribunal (NCLAT), New Delhi, upheld ICICI Bank’s status as a secured financial creditor, holding that fixed deposits pledged as cash collateral constitute valid security during insolvency proceedings. The Tribunal set aside the NCLT’s earlier direction to release the fixed deposits, allowing the appeal and confirmed ICICI Bank’s…
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Regulator investigates Bernard Whimp’s Chance Voight after High Court appoints liquidator ThePost.co.nz Read the original article here
The High Court in Christchurch has appointed PWC as interim liquidators. File photo. Photo: RNZ / Nate McKinnon The Financial Markets Authority (FMA) is investigating a Christchurch-based investment corporation led by businessman Bernard Whimp. The investigation centred around Chance Voight Investment Corporation, as well as subsidiaries, persons and entities associated with Chance Voight Group. The…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…