Category Archives: Liquidation

Southern Online Bio Technologies Ltd. – Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors – The Hindu BusinessLine

Dear Sir,Sub: Outcome of 7th CoC Meeting of M/s. Southern Online Bio Technologies Limited scheduled on 8thApril, 2019.With reference to the subject cited above, I would like to inform you that the following matters are theoutcome of the 7th Committee of Creditors Meeting of M/s. Southern Online Bio Technologies Limitedheld on 8th April, 2019.1. Discussed…

SEAF-backed Abhay Nutrition now in NCLT – Economic Times

Mumbai: The dedicated bankruptcy court has admitted an insolvency petition filed by the Swiss emerging markets fund, ResponsAbility Fair Agriculture Fund, against livestock feed manufacturer Abhay Nutrition for defaulting on around $4.75 million (around Rs 33 crore) of advances. Maharashtra-based Abhay Nutrition is backed by the US-based and emerging countries focused fund SEAF and currently…

How a Newcastle high-interest finance company loan went from $500,000 to $7.3 million in two years – Newcastle Herald

news, local-news, gavan reynolds, reynolds auctions, Paul Siderovski, Oakland York, loan shark, high interest, blue capital investments IMAGINE being trapped in a loan that a judge said had a legal interest rate of 120 per cent a year. A loan with “numerous” and “substantial” default fees and “enforcement costs” that multipled until a sheriff was…

Tayo Rolls Ltd. – Corporate Insolvency Resolution Process (CIRP)-Admission of application by Tribunal – The Hindu BusinessLine

In continuation of our earlier letter dated October 8, 2018, this is to inform you that Honorable National Company Law Tribunal (NCLT), Kolkata vide order dated 5th April, 2019 (Copy enclosed) has admitted the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) in respect of…

How a Newcastle high-interest finance company loan went from $500000 to $7.3 million in two years – Newcastle Herald

news, local-news, gavan reynolds, reynolds auctions, Paul Siderovski, Oakland York, loan shark, high interest, blue capital investments IMAGINE being trapped in a loan that a judge said had a legal interest rate of 120 per cent a year. A loan with “numerous” and “substantial” default fees and “enforcement costs” that multipled until a sheriff was…

Newlyweds billed $300 to find out if wedding photos exist following collapse of Launch Film Productions – Sydney Morning Herald

In order to search the database and recover any footage, couples have been asked to pay $300 and supply a hard drive for media transfer and a reply paid parcel. The payment of $300 is required to contribute towards the costs of extracting, transferring and providing the media to you, a letter from PwC dated…

Newlyweds billed $300 to find out if wedding photos exist following collapse of Launch Film Productions – The Sydney Morning Herald

In order to search the database and recover any footage, couples have been asked to pay $300 and supply a hard drive for media transfer and a reply paid parcel. The payment of $300 is required to contribute towards the costs of extracting, transferring and providing the media to you, a letter from PwC dated…

IBBIs reading of SC move to strike down RBI circular on stressed assets – BusinessLine

The insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) has summarised the Supreme Courts landmark judgment that struck down the RBIs February 12 circular last year on stressed assets, raising awareness on how the apex court has dealt with the issues concerned. The analysis brings to the fore that, on various counts as held…

Bankrupt Smartphone-Maker Edges Toward Liquidation – Caixin Global

Bankrupt smartphone-maker Gionee Communication Equipment Co. Ltd.s liabilities are more than double its current assets, the administrator handling the case said, as the former high-flyer prepares to be liquidated after falling victim to intense competition. The administrator disclosed its estimates of Gionees assets and liabilities at the first meeting of the companys creditors on Tuesday…

Supreme Court upholds constitutional validity of IBC – Vantage Asia

The Supreme Court, while deciding the constitutional validity of various provisions of the Insolvency and Bankruptcy Code, 2016 (code), in the case of Swiss Ribbons Pvt Ltd v Union of India, upheld the mandate of section 29A with minor distinctions. Section 29A of the code lists persons or entities not eligible to submit a resolution…