IBBI reports decrease in liquidations and increase in resolutions under Insolvency and Bankruptcy Code, ET LegalWorld

In the quarterly newsletter report, the Insolvency Bankruptcy Board of India (IBBI) has observed a consistent upward trend in resolutions and a significant downward shift in the number of liquidations, starting from 2020-21. “Over the years, more and more companies are being resolved under IBC and the number of liquidations is going down,” the report…

Operational Creditors Cannot Question Approval Of Resolution Plan That Provides Them With More Than Liquidation Value: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) that Resolution Plan approved by the Adjudicating Authority cannot be questioned by the Operational Creditors when they were provided more than the liquidation value under the Plan as…

Brindabella Christian College in administration

Brindabella Christian College went into voluntary administration this week due to alleged financial problems, and after the federal and ACT governments, unions and the tax office started court and disciplinary proceedings. Deloitte Turnaround and Restructuring partners Sal Algeri and Sam Marsden were appointed administrators on Wednesday. They say they want to stabilise the school’s financial…

Vocational trainer Site Group in voluntary administration

Vocational training provider Site Group International (ASX: SIT) has entered voluntary administration after failing to reach a compromise over $http://www.businessnewsaustralia.com/1http://www.businessnewsaustralia.com/1 million in penalties being sought by the consumer watchdog after an adverse finding against the company’s former Captain Cook College subsidiary four years ago. Site Group had made a $http://www.businessnewsaustralia.com/1.http://www.businessnewsaustralia.com/1 million provision in its books…