Another two Canterbury building companies have gone into liquidation after accumulating debts. Alpha Construct Ltd owes a combined $867,000 to Inland Revenue (IRD) and creditors, while unrelated company Gellatly Builders Ltd has an estimated total shortfall of about $297,000. Alpha Construct shareholders and directors Keith Carney and Sarah Browne voluntarily put their company into liquidation…
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NZ company liquidations 2025: Highest number of failures since 2010 ThePost.co.nz Read the original article here
New Delhi: The Supreme Court on Monday upheld the initiation of corporate insolvency resolution proceedings against real estate firms Bhasin Infotech and Infrastructure Private Limited and Grand Venezia Commercial Towers Private Limited, reinforcing the rights of homebuyers and commercial allottees. A bench comprising Justices Sanjay Kumar and K Vinod Chandran said the contention of the…
Policyholders face $120m in losses as PHL Variable slides into liquidation Insurance Business Read the original article here
The Supreme Court has ruled that a joint petition for the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC) is maintainable against separate corporate entities if they are “intrinsically linked” to a single project. The Court upheld the admission of insolvency proceedings against M/s. Grand Venezia Commercial Towers…
In a relief to homebuyers, the Supreme Court on Monday (February 2) held that in real estate projects, a single insolvency petition under Section 7 of the Insolvency & Bankruptcy Code is maintainable against more than one corporate entity if they are intrinsically connected in the execution and marketing of the project.A bench of Justices…
Imagine a corporate debtor undergoing the Corporate Insolvency Resolution Process. Every rupee lying in its bank accounts becomes critical to sustain operations, pay employees and preserve value for creditors. Yet, at the same time, the Enforcement Directorate or other investigating agencies may step in on allegations of money laundering and freeze those very accounts. What…
The final round was judged by a bench of Karnataka High Court Justice Chillakur Sumalatha; Delhi High Court Justice Mini Pushkarna; NLIU, Senior Prof (Dr) Ghayur Alam; Dean,Post-Graduate Studies, NLIU, Prof (Dr) Sanjay Yadav; and Managing Partner, VKC Law Offices, Varun Kumar Chopra. Read the original article here