In the context of the Insolvency and Bankruptcy Code (IBC), the Supreme Court has held that a ‘pre-existing dispute’ capable of barring the initiation of a Corporate Insolvency Resolution Process under Section 9 must be real, genuine, and supported by substantive evidence, and not a moonshine defence raised merely to obstruct CIRP. A bench of…
Glasgow firm linked to major brands falls into liquidation The Scottish Sun Read the original article here
In a published notice from the Australian Securities and Investments Commission (ASIC) last week, it was revealed that start-up superannuation fund GigSuper has entered voluntary liquidation. At a general meeting on 24 June, it was resolved that the company would be wound up and that principal at DW Advisory, Paul Gerard Weston, would be appointed…
German corporate insolvencies to reach decade-high in 2025 By Investing.com Investing.com UK Read the original article here
On the pre-existing dispute argument, the NCLT held that the 2004 arbitration concerned earlier disputes and did not relate to the EIRL works, which were assigned and completed later. As no dispute regarding the present claim was raised prior to the demand notice, the tribunal held that CNNL failed the Mobilox test for demonstrating a…
The National Company Law Tribunal (NCLT) at Bengaluru on Wednesday admitted a Karnataka government undertaking Cauvery Neeravari Nigam Limited into the Corporate Insolvency Resolution Process for a default of over Rs 9.36 crores. The bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada, while admitting an insolvency plea filed by project contractor……
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