Commercial Wisdom Of CoC In Opting For Liquidation And Rejecting Resolution Plan Of Ineligible Applicant Is “Non-Justiciable”: NCLAT

Liquidation

The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi has held that the commercial wisdom of the Committee of Creditors (CoC) in rejecting a resolution plan and opting for liquidation is “non-justiciable”. The Appellant-Director was disqualified under Section 164(2) of the Companies Act, thereby rendering the him ineligible to be a Resolution Applicant…

The Star Entertainment could face voluntary administration – Media

Liquidation

Australia’s The Star Entertainment Group may face voluntary administration within months, as lenders doubt the company’s ability to secure a lifeline investor, according to the Australian Financial Review. With its market value plummeting from AU$4 billion ($2.6 billion) to under AU$500 million ($325 million), the casino operator has struggled with cash flow and regulatory challenges.…

Germany Faces Unprecedented Bankruptcy Surge Since 2009

Liquidation

Germany has reported its highest number of corporate bankruptcies since the global financial crisis of 2009, highlighting the increasing strain on businesses amidst rising costs, high interest rates, and diminishing state support. According to a study conducted by the Halle Institute for Economic Research (IWH), the economic challenges of 2024 led to a surge in…

Mosaic Brands, fashion retailer behind Millers, Rivers and Katies, enters voluntary administration

Liquidation

Mosaic Brands, the company behind Australian fashion brands including Rivers, Katies and Noni B, has entered voluntary administration, putting almost 3,000 jobs at risk. The company, which operates more than 700 retail stores around the country, confirmed the decision in a statement to the Australian Securities Exchange (ASX) on Monday afternoon. It comes after Mosaic…

Eurolife Healthcare Pvt Ltd As Corporate Debtor Retains Absolute Rights Over Disputed Cephalosporin Facility As Part Of Liquidation Estate: NCLAT

Liquidation

The National Company Law Appellate Tribunal bench of Justice Ashok Bhushan (Chairperson) and Barun Mitra (Technical Member) has held that the Corporate Debtor, Eurolife Healthcare Pvt. Ltd., retained absolute rights over the disputed 13,000 sq. ft. Cephalosporin Facility as part of the liquidation estate. Brief Facts Maharashtra Industrial Development Corporation (MIDC) executed a 95-year lease…