Reverse CIRP: A Homebuyer-Centric Shift in Real Estate Insolvency – Lexology
Reverse CIRP: A Homebuyer-Centric Shift in Real Estate Insolvency Lexology Read the original article here
NCLT Mumbai Reaffirms Insolvency Process Can Proceed Against Guarantors Without CIRP Of Corporate Debtor
The National Company Law Tribunal (NCLT) at Mumbai recently reaffirmed that insolvency proceedings against personal guarantors under the Insolvency and Bankruptcy Code can be initiated even if no CIRP is pending against the corporate debtor, relying on the Supreme Court’s ruling in State Bank of India v. Mahendra Kumar Jajodia(2022). A coram of Judicial Member…
Supreme Court Restores Property Of Corporate Debtor Attached Under PMLA To Successful Resolution Applicant
The Supreme Court recently reiterated that the objective of Section 8(8) of the Prevention of Money Laundering Act(PMLA) is to ultimately restore any attached properties to the bonafide successful resolution application(SRA) who have a legitimate interest in it. Section 8(8) allows the Special Court to direct the Central Government to restore property that has been…
Astra International Subsidiary Establishes Nickel Processing Company
TEMPO.CO, Jakarta – The subsidiary of PT Astra International Tbk, PT United Tractors Tbk (UNTR), through its subsidiaries, PT Danusa Tambang Nusantara (DTN) and PT Energia Prima Nusantara (EPN), has established a new company, PT Nusantara Industri Nikel Lestari (NINL). The Minister of Law has approved the establishment of this new subsidiary through Decision Number AHU-0103497.AH.01.01.YEAR…
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The retail industry is spending the end of the year restless due to unfavorable factors such as diff..
Homeplus faces liquidation crisis due to failure of sale\n Interpark Commerce virtually bankruptcy\n Coupang faces trust crisis due to information leakage 사진 확대 Homeplus Dongdaemun Branch [Reporter Lee Seung Hwan] The retail industry is spending the end of the year restless due to unfavorable factors such as difficult sales and large-scale personal information leakage. Homeplus…
Insolvency process slowing, Parl panel calls for reforms – MSN
Insolvency process slowing, Parl panel calls for reforms MSN Read the original article here
India’s Insolvency & Bankruptcy Code is struggling to deliver. It’ll take a decade to clear backlog
New Delhi: India’s Insolvency and Bankruptcy Code (IBC) is struggling to deliver on its core objective—the timely resolution of cases. In 2024-25, the average duration of insolvency resolution stretched 853 days, far exceeding the mandated 330-day limit. With 30,600 cases pending, it would take at least a decade to clear the backlog at the current 30-bench…
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REVEALED: Latest business liquidations in Brisbane – The Courier Mail
REVEALED: Latest business liquidations in Brisbane The Courier Mail Read the original article here