In a significant ruling strengthening the Insolvency and Bankruptcy Code’s moratorium shield, the Gujarat High Court has held that Gujarat Industrial Development Corporation (GIDC) could not terminate a 99‑year lease or evict Gujarat Hydrocarbons and Power SEZ Limited during the corporate insolvency resolution process, dismissing GIDC’s Letters Patent Appeal against a Single Judge order that…
UK steel firm set to collapse into liquidation – in business for 11 years MSN Read the original article here
Thank you for reading this post, don’t forget to subscribe! Supreme Court of India upheld NCLAT order restoring CoC in Think & Learn Private Limited insolvency. Bench of Justice JB Pardiwala and Justice Vijay Bishnoi dismissed appeal by Byju Raveendran. The Supreme Court of India on Monday refused to interfere with an order of the…
UK steel firm set to collapse into liquidation – in business for 11 years MSN Read the original article here
The Supreme Court of India has set aside a judgment of the National Company Law Appellate Tribunal (NCLAT) and restored the resolution plans for stalled real estate projects of Earth Infrastructures Limited (EIL). In a significant ruling, the Court applied the doctrine of “piercing the corporate veil” to hold that the assets of subsidiary companies…
Adwoa Beauty, the prestige textured hair care brand, is set to enter liquidation after filing for bankruptcy. A US judge has ruled that Adwoa Beauty’s Chapter 11 bankruptcy protection be converted to Chapter 7. Chapter 11 allows for negotiations between a business and its creditors to continue operating and find a viable path forward. Adwoa…
Ourgame Issues First Liquidation Report as Share Trading Remains Suspended TipRanks Read the original article here
Stephen Grootes speaks to Gareth Cremen, a partner in Cox Yeats’ Business Restructuring, Rescue & Insolvency team, about South Africa’s business rescue framework and how companies end up relying on state funding without any prospect of financial improvement. Listen to the full interview in the audio player above. Business rescue & zombie companies Cremen explains…
British kitchen brand shuts down ‘with immediate effect’ after two decades The Sun Read the original article here
Founded in 1975, IFFCO operates brands including London Dairy ice cream, Tiffany, Alfa, Allegro, and has a presence in around 50 countries. Its business spans food, packaging, chemicals and logistics. The company traces its origins to India’s Allana Group, an agricultural commodities trader established in 1865. Read the original article here