Insolvency Guardian Media Centre
Highlights
- The National Company Law Appellate Tribunal has dismissed an insolvency petition against PepsiCo India Holdings, stating that the Insolvency and Bankruptcy Code cannot be used as a debt-recovery mechanism.
- The appellate tribunal upheld the earlier decision by the Chandigarh bench of the National Company Law Tribunal, which rejected SNJ Synthetics’s plea for initiating Corporate Insolvency Resolution Process against PepsiCo.
- The NCLAT ruled that SNJ Synthetics’s claim was not maintainable since the principal debt had been repaid, leaving only a disputed claim for interest.
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Bankrupt Federal Contractor Seeks Fast Sale to Avoid DOGE Threat Bloomberg
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ICAI has suggested implementation of specialized measures to the challenges posed by defunct companies in the corporate insolvency resolution process (CIRP) and streamline the insolvency resolution process. The Insolvency and Valuation Standards Board (I&VSB) of the Institute of Chartered Accountants of India (ICAI) has released a study report on the efficacy of the Insolvency and Bankruptcy Code (IBC), 2016, which highlights these challenges.
The report reveals that defunct companies, characterized by a lack of ‘going concern’ status or prior classification under the Board for Industrial and Financial Reconstruction (BIFR), disproportionately burden the CIRP mechanism, leading to delays and inefficiencies.
Current…
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Hudson’s Bay Company to auction historic artifacts amid liquidation CityNews Calgary
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Kathrine Fredriksen leaves Avance Gas board as new directors brought in for liquidation TradeWinds
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Battery recycler Li-Cycle files for bankruptcy protection in Canada Reuters
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Aussie brides await delivery of gowns as luxury bridal brand enters administration Central Western Daily
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A Rare Investment Opportunity in the Heart of Europe
Lantana Capital Ltd. is proud to announce the public auction of the former Heliosphera SA solar panel factory and its equipment. Set in Tripoli’s industrial zone, the site offers potential in renewable energy, advanced manufacturing, battery storage, logistics operations, or complete industrial redevelopment for companies looking to expand and gain a corporate base in Europe.
With a starting bid of €17 million, buyers will gain ownership of a top-tier facility that includes:
- 19,600+ sqm of built-up industrial space across basement, ground, and first floors
- Two adjacent plots totalling 26,930 sqm plus an extra 2,200 sqm…
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There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:
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Roberts Co founder puts building empire into administration The Australian
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Disgruntled Reacon company creditors CTRL Print and Printcraft have won the court battle to have Reacon Australia placed into liquidation. The fate of sister company mmw3degrees, currently in administration, will be decided on Friday. The Reacon companies have debts estimated to be around $9m.
The two businesses were part of the Reacon Group acquired by Westmann printing owner Vik Gulati, the day after Reacon Group owner Jahingar Khan put the businesses into administration.
Gulati was aiming to reboot the businesses, by having them put into a DOCA, which would have parked their debts while a schedule of repayments, at a cents in…
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Geelong NDIS provider goes bust owing $1.1m Geelong Advertiser