[SINGAPORE] Entertainment company mm2 Asia said on Monday (Oct 27) that it received an originating claim and statement of claim from Frasers Centrepoint Trust (FCT) for S$2.6 million. The claim was received on Friday and relates to obligations by mm2-owned Cathay Cineplexes at Causeway Point. Cathay Cineplexes is currently undergoing voluntary liquidation, having ceased operations…
Insolvency Ordered Against BluSmart’s Tech Arm The order passed by the National Company Law Tribunal (NCLT) in Ahmedabad is given to one of the subsidiaries of the all-electric ride-hailing corporation, BluSmart. It has formally placed Blu-Smart Mobility Tech Private Limited in the Corporate Insolvency Resolution Process (CIRP). This case is based on a petition by…
Ansal Properties Updates on Fernhill Project Creditors’ Meeting Amid Insolvency Process The Globe and Mail Read the original article here
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Liquidators look to sell Vesuvio as creditors claim $640k The Press Read the original article here
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Introduction: In a significant judgment, the Nagpur Bench of the Bombay High Court, presided over by Justice M.M. Nerkiar, examined the intersection of consumer protection law and insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), 2016. The case arose from Srei Equipment Finance Limited v. Rajesh Bajirao Khandewar and Others (Criminal Writ Petition No.…
Mumbai: The Bank of Maharashtra has joined three other lenders in labeling Reliance Communications’ ₹488 crore loan as fraudulent, deepening the telecom company’s troubles even as it awaits approval of its insolvency resolution plan. A Fourth Fraud Tag on a Collapsing Empire Reliance Communications Ltd. (RCOM), once a crown jewel of India’s telecom sector, now…
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