The Insolvency and Bankruptcy Board of India (IBBI) has flagged the misuse of the insolvency process by companies seeking to evade taxes, conceal assets and avoid regulatory or criminal action, saying the bankruptcy framework is in some cases being used for purposes other than rescuing distressed businesses. In a recent discussion paper, the insolvency regulator…
The collapse of a Norwich-based ski holiday specialist serves as a stark warning for travelers: not all bookings are created equal when a travel agency fails. While package holiday guests are often shielded by statutory protections, those who booked standalone accommodation may face significant financial hurdles. Norwich Ski Specialist Enters Voluntary Liquidation On July 22,…
UK flight school collapsed into liquidation with HMRC owed money oxfordtimes.co.uk Read the original article here
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53-year-old lawn and garden giant faces Chapter 11, liquidation thestreet.com Read the original article here
The Supreme Court has held that the moratorium imposed under Section 14 of the Insolvency and Bankruptcy Code (IBC) during the Corporate Insolvency Resolution Process (CIRP) operates only against the corporate debtor and cannot extend to its subsidiary companies, managers, directors, personal guarantors or other respondents. A Bench of Justices Vikram Nath and Sandeep Mehta…
The Supreme Court has held that the moratorium imposed under Section 14 of the Insolvency and Bankruptcy Code (IBC) during the Corporate Insolvency Resolution Process (CIRP) operates only against the corporate debtor and cannot extend to its subsidiary companies, managers, directors, personal guarantors or other respondents. A Bench of Justices Vikram Nath and Sandeep Mehta…
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