The process, initiated by Consolidated Construction Consortium (CCCL), a Chennai-based player in the construction and contracts of civil sector projects, was accepted by the NCLT after hearing both the parties. The Chennai bench of the National Company Law Tribunal (NCLT) has ordered commencement of corporate insolvency resolution process against VA Tech Wabag, one of the…
Appleton Coated courtesy: WLUK × Fox Valley paper mill sold to liquidation company Appleton Coated courtesy: WLUK COMBINED LOCKS, Wis. An Outagamie County judge has approved the sale of a Fox Valley paper mill that employed hundreds of people to a liquidation company. Judge Gregory Gill approved Industrial Assets $21.5 million purchase of Appleton Coated on…
(Updates with liquidation deadline, context throughout) By Nichola Saminather TORONTO, Oct 4 (Reuters) – Sears Canada on Wednesday won court approval to extend credit protection by a month to Nov. 7, but its creditors set a deadline of this week to liquidate the retailers’ assets, leaving the company with mere days to decide its fate.…
… Read the full article at: http://www.startribune.com/fox-valley-paper-mill-sold-to-liquidator/449746203/
New Delhi, Oct 2 () Asserting that resolution plans should balance interests of all stakeholders, IBBI chief M S Sahoo has said operationalising the individual insolvency framework as well as developing the market for interim finance are among the priorities for the regulator. In one year of existence, the Insolvency and Bankruptcy Board of India…
NEW DELHI: After coming to the rescue of flat buyers in Jaypee and Unitech projects, the Supreme Court on Friday took up the plea of buyers in Amrapali projects and issued a notice to the company on their petition challenging insolvency proceedings against the Group. Around 100 flat buyers, who had booked homes in the…
The Insolvency and Bankruptcy Board of India, which oversees the revival and liquidation of distressed firms, amended two of its regulations to require that every turnaround scheme should also specify how the interests of these stakeholders will be taken care of. Photo: AFP New Delhi: Bankrupt businesses exploring turnaround options under pressure from lenders can…
AdvertisementHampshire Group filed with the U.S. Bankruptcy Court a notice of withdrawal of the Companys fifth motion for an exclusivity extension. The Companys First Amended Joint Chapter 11 Plan of Liquidation subsequently became effective, and the Company emerged from Chapter 11 protection. Advertisement The Court confirmed the Plan on Septemb… Read…
APPLETON, Wis. (WBAY) – The sale of Appleton Coated to a liquidation company was approved Thursday — but that doesn’t necessarily mean the paper mill will shut down. Appleton Coated paper mill in Combined Locks (WBAY photo) An Outagamie County judge has approved the sale to Industrial Assets Corporation, a California-based liquidation and auction company.…
TORONTO, Oct 4 (Reuters) – Creditors to Sears Canada have set a deadline of Oct. 7 for the retail chain to enter liquidation agreements for all its assets, leaving the company with just days to reach a deal to continue operations, a court-appointed monitor said. That tight deadline presents a challenge and could potentially derail…