Insolvency Guardian Media Centre
The eThekwini Municipality Energy Management Directorate (EMD) is proposing that the debt relief mechanism be suspended due to the lack of system integration.
The proposal to suspend the 80/20 and 50/50 debt relief mechanisms was raised at a recent municipal Trading Services Committee meeting. Both programs were reintroduced as debt recovery mechanisms in May 2022 to assist customers in repaying outstanding municipal electricity debt through a proportional deduction method.
The EMD stated in its report to the committee that there was a lack of integration between the vending system and the billing system, resulting in a fragmented and inefficient approach to debt collection. Another reason for the suspension…
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eThekwini residents to benefit as flawed debt relief mechanisms face suspension MSN
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eThekwini residents to benefit as flawed debt relief mechanisms face suspension MSN
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A Tel Aviv district court has ordered a snack bar owner to repay a 2.6 million shekel ($806,000) loan to his former brother-in-law, rejecting his claim that he had already repaid the debt by letting him place thousands of unpaid sports bets.
The lender, a shoe store owner, was once married to the sister of the borrower. In his April 2023 lawsuit, he claimed that beginning in 2016, he received two checks totaling 1.75 million shekels ($542,500) from his ex-brother-in-law as partial repayment, signed by the borrower’s sons as guarantors. A later check for 2.6 million shekels was also signed by one of the sons. However, the checks were never cashed because the lender was warned they would bounce. He instead turned to the court.
The…
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The Supreme Court of India has ruled that development rights validly terminated prior to the initiation of the Corporate Insolvency Resolution Process (CIRP) do not constitute “assets” of the Corporate Debtor protected under the moratorium provisions of Section 14 of the Insolvency and Bankruptcy Code, 2016 (IBC).
In a significant judgment delivered on November 28, 2025, a Bench comprising Justice J.B. Pardiwala and Justice R. Mahadevan dismissed the appeal filed by A A Estates Private Limited (Corporate Debtor), holding that the IBC cannot be used to “indefinitely stall redevelopment” or obstruct the legitimate rights of cooperative housing societies and slum dwellers.
The Supreme Court upheld the decision of the…
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Liquidators brought in to handle the collapse of the trust that looks after some of Torbay’s most treasured landmarks say they are doing all they can to protect its assets.
Two specialist insolvency practitioners have been brought in by PKF Francis Clark following news last month that the Torbay Coast and Countryside Trust (TCCT) had ceased trading.
Its subsidiary company Torbay Coast and Countryside Enterprises has also stopped trading, and all the employees of the trust have been made redundant.
The trust runs Occombe Farm and manages Cockington Country Park, Berry Head and many of the bay’s other well-known natural attractions. Known as the ‘green guardian’ of Torbay, the trust is an independent conservation charity…
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section 220The Insolvency and Bankruptcy Board of India (IBBI) has suspended the registration of Insolvency Professional (IP) for a period of one year for multiple contraventions of the Insolvency and Bankruptcy Code, 2016 (Code), including the improper constitution of a Committee of Creditors (CoC) and other significant procedural lapses.
The disciplinary action stemmed from the IP’s role as the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of M/s. Vjaydeep Developers LLP. The primary allegation was that he improperly included Mr. Samir Shirish Dadia, a related party of the corporate debtor, in the CoC and allowed him to participate and vote. Evidence, including a Deed of Admission…
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Liquidators brought in to handle the collapse of the trust that looks after some of Torbay’s most treasured landmarks say they are doing all they can to protect its assets.
Two specialist insolvency practitioners have been brought in by PKF Francis Clark following news last month that the Torbay Coast and Countryside Trust (TCCT) had ceased trading.
Its subsidiary company Torbay Coast and Countryside Enterprises has also stopped trading, and all the employees of the trust have been made redundant.
The trust runs Occombe Farm and manages Cockington Country Park, Berry Head and many of the bay’s other well-known natural attractions. Known as the ‘green guardian’ of Torbay, the trust is an independent conservation charity…
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The National Company Law Appellate Tribunal (NCLAT), Principal Bench, has dismissed the appeal filed by the appellant under Section 61 of the Insolvency and BankruptcyCode, 2016 (IBC), holding that mere shareholder status does not confer locus standi as a “person aggrieved” under Section 61.
This appeal arises from the order passed by the NCLT, whereby the petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by JM Financial Credit Solutions Ltd. (Respondent and Financial Creditor) against Hem Infrastructure and Property Developers Pvt. Ltd. (the corporate debtor) was admitted.
The dispute originated in six financial facilities sanctioned by JM Financial between 2017 and 2022, aggregating to…
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Insolvency Professionals, Valuers Need Very Effective Self-Regulating Mechanism: Official outlookbusiness.com
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The National Company Law Tribunal (NCLT) at Mumbai has recently stressed that stakeholders must act within statutory timelines during a corporate insolvency resolution process, dismissing six applications filed by former employees of Indo Global Soft Solutions and Technologies Private Limited after finding that their claims had been submitted 18 months after the last date prescribed for filing claims under the Insolvency and Bankruptcy Code
A Bench of Judicial Member K R Saji Kumar and Technical Member Anil Raj Chellan stressed the need for creditors to be vigilant under the Code, stating, “Every stakeholder is required to be vigilant in asserting their rights within the timeframe as provided by or under the IBC.”
Rejecting the…