Category Archives: Liquidation

Adjudicating Authority Is Empowered To Decide Whether Successful Resolution Applicant Is Liable To Pay Pre-CIRP Electricity Dues U/S 60(5) Of IBC: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Yogesh Khanna (Judicial Member) and Mr. Ajai Das Mehrotra (Technical Member) has held that the National Company Law Tribunal (NCLT) is empowered to decide an issue whether Successful Resolution Applicant (SRA) is liable to pay Pre-Corporate Insolvency Resolution Process (CIRP) electricity dues after…

2 subsidiaries of debt-ridden Hong Kong contractor Paul Y sued for HK$9.5 million

Two subsidiaries of a major Hong Kong construction firm have been sued by a subcontractor for compensation of more than HK$9.5 million (US$1.2 million) after the parent company proceeded with winding-up proceedings. Paul Y Construction Co and Paul Y General Contractors – two subsidiaries of Paul Y Engineering Group – were allegedly indebted to Mankey…

Strategy stock is down 55% from ATH but forced liquidations highly unlikely – Kobeissi

Strategy (previously MicroStrategy) stock has plunged more than 55% from its all-time high, fueling speculation that the company could be forced to sell off its massive Bitcoin (BTC) holdings. With approximately 499,096 Bitcoin worth $43.7 billion, the firm has built one of the largest corporate Bitcoin reserves, but concerns are rising over its ability to…

Strategy stock falls as Bitcoin drops raising liquidation fears

Strategy stock plunged 11% on Feb. 25 as Bitcoin slipped below $90,000, raising concerns about a possible liquidation due to the company’s massive Bitcoin exposure. With 499,096 Bitcoin (BTC) valued at around $44 billion, Strategy is the largest corporate Bitcoin holder, making its financial stability closely tied to the asset’s price movements. The sharp drop…

Eye-watering amount owed by Aussie retailer – Herald Sun

Eye-watering amount owed by Aussie retailer  Herald Sun Read the original article here

NCLT admits Ansal Properties & Infrastructure to insolvency – Bar & Bench – Indian Legal News

NCLT admits Ansal Properties & Infrastructure to insolvency  Bar & Bench – Indian Legal News Read the original article here

Broughty Ferry pub firm liquidated after owner’s drink-driving ban

Broughty Ferry pub firm liquidated after owner’s drink-driving ban Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. … Read the original article here

Goodbye to the Store Loved by Several Generations

Joann, a renowned chain of stores specializing in crafts and sewing, will close all its locations in the United States. The company announced its total liquidation after failing to find a solution to remain operational. The closure depends on court approval but inventory liquidation has already begun in more than 800 stores. GA Group and…

Strategy stock dips as Bitcoin price crashes below $90K, sparking concerns of forced liquidation

Strategy’s MSTR has declined over 55% since November 20, igniting concerns of forced liquidations among investors. The sell-off stems from the company’s heavy exposure to Bitcoin following its buying spree in the past year. Strategy could be forced to liquidate part of its Bitcoin holdings if investors redeem convertible notes early. Strategy (formerly MicroStrategy) witnessed…

ASIC cancels AFSL of timeshare company

The regulator has cancelled the Australian Financial Services licence (AFSL) and credit licence of Ultiqa Lifestyle Promotions Limited. Ultiqa Lifestyle Promotions, which is in liquidation, has seen its AFSL and credit licence cancelled following an Australian Financial Complaints Authority (AFCA) determination. On 28 June 2024, AFCA made a determination against Ultiqa, which it failed to…