Kerry councillors unanimous in support for rural chocolate business as liquidation threat looms

Councillors at a Kenmare Municipal District (MD) meeting highlighted the liquidation threat to the Ballinskelligs-based firm and emphasised that “every effort should be made” to secure the factory’s future. It is understood that the Dún Laoghaire firm Resolute Advisory has applied to the High Court to have Seaclaidi na Sceilge Teoranta wound up, the company…

Finance company shut down after investigators uncover fraud concerns | Insolvency Service

Company wound up following Insolvency Service investigations Insolvency Service investigations into Basic Prime Limited discovered concerns that the company was involved in fraud The company, which claimed to be based in Croydon, had no genuine business presence, contact details not in operation, and a director who failed to provide information and documents that were requested…

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DFS Secy urges state-run banks to fast-track pending IBC cases, tighten monitoring at NCLT

India’s finance ministry on Tuesday directed state-run banks to step up monitoring and accelerate the admission and resolution of pending bankruptcy cases at the National Company Law Tribunal (NCLT), warning that delays were slowing the corporate insolvency process. M. Nagaraju, Secretary in the Department of Financial Services (DFS), reviewed the status of cases under the…

Uploading Debt Details On Information Utility Does Not Extend Limitation For CIRP: NCLAT

The National Company Law Appellate Tribunal at Delhi on Thursday observed that merely uploading financial information on an information utility does not amount to acknowledgment of debt and therefore cannot trigger a fresh limitation period for filing a Corporate Insolvency Resolution Process application under Section 9 of the Insolvency and Bankruptcy Code. The Bench of…