The parent company of Masham’s Black Sheep Brewery has filed another notice of intention (NOI) to appoint administrators, in a fresh attempt to keep the business on life support. Keystone Brewing Group, which also owns Hofmeister and several other brewers, including Leeds-based North Brewing Co, Huddersfield-based Magic Rock and Warwickshire’s Purity Brewing Co, filed three…
As tourist numbers in many parts of the world continue to reach new heights, many smaller companies selling tours and various holiday packages have been having a difficult time staying afloat amid a multitude of competitors and the ease of self-booking everything online. Tour operators Great Little Escapes and Jetline in the United Kingdom both shut…
The Supreme Court on Thursday ruled that homebuyers’ societies or Resident Welfare Associations (RWAs) ordinarily constituted for maintenance and management of common facilities in a housing project cannot intervene in the insolvency proceedings of the developer company. A bench of justices JB Pardiwala and R Mahdevan, which upheld the insolvency proceedings related to Takshashila Heights…
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Supreme Court rules RWAs can’t intervene in insolvency of developer firms. Upholds IBC code, protects homebuyer rights. New Delhi, Jan 15 (PTI) The Supreme Court on Thursday ruled that homebuyers’ societies or Resident Welfare Associations (RWAs) ordinarily constituted for maintenance and management of common facilities in a housing project cannot intervene in the insolvency proceedings…
The Supreme Court of India has upheld the initiation of the Corporate Insolvency Resolution Process (CIRP) against a real estate developer, ruling that the admission of a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) is mandatory once the existence of a financial debt and default is established. The Court further…
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Tour company goes into liquidation and cancels trips, no refunds thestreet.com Read the original article here
The National Company Law Tribunal (NCLT), Kolkata Bench, dismissed a restoration application filed by the applicant, holding that a delay beyond 30 days cannot be justified as counsel’s inaction. Implex Metal & Ferro Alloys Ltd. was admitted into the Corporate Insolvency Resolution Process (CIRP) in March 2018 on a petition by the State Bank of…
Failed luxury caravan manufacturer Zone RV will be liquidated, as police investigate the company’s director over fraud claims. The Sunshine Coast-based company fell into administration on December 1, owing creditors $42 million. Almost 150 Zone RV customers are owed about $15 million in progress payments made for caravans that have not been constructed. At a…