AS Tallink Takso plans to cease operations within the next month and will undergo liquidation. The company will immediately begin negotiations to terminate taxi service agreements and other contractual obligations. Contractual taxi services will continue until all obligations are fulfilled, while non-contractual clients will be serviced for the next month. As part of the liquidation process, 14…
Irish corporate insolvencies rose 16 per cent to their highest level in six years, though they came in below expectations as the fourth-quarter saw a drop off in company collapses, according to PwC. The Big Four accountancy firm said the total figure for 2024 was 852, which was well shy of its forecast that insolvencies…
What Chapter 11 bankruptcy means Filing for bankruptcy doesn’t always mean the end for an American business. There was a historic surge in U.S. corporate bankruptcy filings in June, with the highest number recorded in a single month since at least the start of 2020, new data shows. The number of corporate bankruptcy filings as…
Case Title: Ansal Crown Heights Flat Buyers Association (Regd.) vs. M/S. Ansal Crown Infrabuild Pvt. Ltd. & Ors. Citation: 2024 LiveLaw (SC) 63 The Supreme Court has held that the imposition of moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) has no effect on the execution of a decree against the…
EPFO can initiate assessment proceedings during liquidation: NCLAT on companies under IBC MSN Read the original article here
NCLAT Fortnightly: Important orders on IBC (November 16 – November 30, 2024) Bar & Bench – Indian Legal News Read the original article here
Introduction The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following…
Introduction The Corporate Insolvency and Governance Act 2020 (the “Act”) came into force in June 2020. It introduced a number of temporary and permanent measures to restructuring and insolvency law which will affect creditors’ rights in the UK. The overarching objective of the Act is to promote the rescue of companies in financial…
Disapproving a High Court’s ordeer interdicting of a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), the Supreme Court recently observed that the IBC is a complete code in itself, having sufficient checks and balances, and thus, the exercise of supervisory and judicial review powers by High Courts demands rigorous scrutiny…
The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following the publication of…