representative image NEW DELHI: The National Company Law Tribunal (NCLT) has admitted the application for commencement of corporate insolvency resolution process against AVIOM India Housing Finance. On January 27, the Reserve Bank had superseded the board of AVIOM owing to governance concerns and defaults in meeting various payment obligations, and appointed Ram Kumar, ex-CGM of…
The number of corporate insolvencies in England and Wales has risen ahead off business cost rises in April. Figures for January showed that 1,852 firms became insolvent, up 10.7% on a year earlier and 13.1% on 2023. Compared to December the level was up 6.5% Personal insolvencies decreased by 3.4% in January to 9,706 compared…
Strategy’s (formerly MicroStrategy) stock (MSTR) has taken a significant hit. The stock fell by double digits following a sharp decline in Bitcoin’s (BTC) price. As speculation swirls over whether the company could be forced to liquidate its Bitcoin holdings, The Kobeissi Letter weighed in, suggesting that while such a move remains highly unlikely, it’s not…
The fabric and craft retailer Joann, which had already announced the closure of hundreds of stores, this week said the chain will shut down completely. Here’s what’s known about the liquidation process: When will the stores close? No date has been announced, and employees also apparently have not been told yet. On social media, staff…
Durban’s Pencil Club — a networking venue for the rich and famous — did not have sufficient money to keep going even until June. Business rescue practitioner Eugene Nel was appointed by the club’s directors earlier this month in an attempt to stave off liquidation. But on Wednesday Nel said it was hopeless. TimesLIVE Premium…
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When Strategy stock plunged more than 11% on Tuesday morning, fears of a potential forced liquidation from the self-described “Bitcoin Treasury” company spread across markets. While those fears are not unfounded—as the company is the largest corporate entity holding Bitcoin—concerns may be overblown. That’s because structural safeguards make a forced liquidation scenario for Strategy “highly…
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