Case Title: Ramkrishna Forgings Limited v Ravindra Loonkar & Anr. Citation: 2023 LiveLaw (SC) 1007 The Supreme Court bench comprising Justice Vikram Nath and Justice Ahsanuddin Amanullah, has set aside an order whereby the National Company Law Tribunal (NCLT) kept the approval of a resolution plan in abeyance while directing an Official Liquidator to conduct…
The National Company Law Appellate Tribunal (NCLAT), New Delhi Bench, comprising of Justice Rakesh Kumar Jain (Judicial Member) and Shri Naresh Salecha (Technical Member), has upheld the order whereby the NCLT had initiated Corporate Insolvency Resolution Process (CIRP) against Birla Tyres Ltd. (Corporate Debtor). Background Facts Birla Tyres Ltd. is a part of B.K. Birla…
Today, Bioservo Technologies (BIOS), a company within wearable grip-strengthening systems for people in need of extra strength and endurance, announces that the board of directors will propose to the shareholders that the company enters into voluntary liquidation. Despite significant interest in Bioservo’s technology from companies in the industrial segment and numerous evaluation projects, the sales…
By Wayne Robinson | 24 November 2023 Peter Wagener has had to put all his display print companies in liquidation, but has vowed he will be back next month, after paying all his suppliers in full. Returning in December: Peter Wagener To cap a drama-filled week, which Wagener described as “ridiculous” the liquidation itself is…
NextGen Financial Group has formally entered into liquidation after losing a Federal Court case regarding an unpaid Australian Financial Complaints Authority (AFCA) determination. Following a hearing, a notice from ASIC stated that Joseph Loebenstein of Victoria-based Loebenstein Insolvency Services has been appointed as liquidator by order of the court. The firm is now in liquidation,…
The Ghana Association of Restructuring and Insolvency Advisors (GARIA) has unveiled the maiden edition of the Corporate Insolvency and Restructuring Journal, marking a significant step forward in enhancing thought leadership in the business framework space in Ghana. Ghana’s journey towards an improved business environment has been punctuated by key legislative milestones, including the enactment of…
Competition Authority is the enforcement authority for India. Read their profile For the first time in its history, the Competition Commission of India (CCI) has a woman chairperson in Ms Ravneet Kaur, who was appointed in May 2023. She will also be the first chairperson to have a full five-year term which is a welcome…
Canadian Association of University Teachers OTTAWA, Nov. 22, 2023 (GLOBE NEWSWIRE) — The Canadian Association of University Teachers (CAUT) welcomes yesterdays announcement in the Fall Economic Statement that the federal government will amend the Companies Creditors Arrangement Act and the Bankruptcy and Insolvency Act to exclude public universities and colleges. The Liberal government has made…
By Wayne Robinson | 24 November 2023 Peter Wagener has had to put all his display print companies in liquidation, but has vowed he will be back next month, after paying all his suppliers in full. Returning in December: Peter Wagener To cap a drama-filled week, which Wagener described as “ridiculous” the liquidation itself is…
Small businesses made almost 4,000 complaints to AFCA in the last financial year, up 9 per cent, and won more than $23 million in compensation and refunds, the authority says. Disputes over business loans the leading cause of friction actually fell slightly but there were marked increases in complaints over commercial property (up 36 per…