Insolvency Guardian Media Centre
Former Putin Challenger Is Declared Bankrupt by Russian Court U.S. News & World Report
Read the original article here
Russian opposition politician Boris Nadezhdin, who tried unsuccessfully to run against Vladimir Putin in a presidential election last year, was declared bankrupt by a Moscow court on Thursday, state media reported.
Acting on a petition filed in May 2024 on behalf of Rosenergobank, which itself went bankrupt in 2017, the arbitration court found Nadezhdin had unfulfilled obligations to the bank totalling 77.4 million roubles ($918,700).
The 61-year-old, who held a seat in Russia’s parliament from 1999 to 2003, tried to run on an anti-war ticket against Putin in a March 2024 presidential election. But he was barred from standing when the Central Election Commission said it had found irregularities, including names of dead people, in the…
Read the original article here
(Reuters) – Russian opposition politician Boris Nadezhdin, who tried unsuccessfully to run against Vladimir Putin in a presidential election last year, was declared bankrupt by a Moscow court on Thursday, state media reported.
Acting on a petition filed in May 2024 on behalf of Rosenergobank, which itself went bankrupt in 2017, the arbitration court found Nadezhdin had unfulfilled obligations to the bank totalling 77.4 million roubles ($918,700).
The 61-year-old, who held a seat in Russia’s parliament from 1999 to 2003, tried to run on an anti-war ticket against Putin in a March 2024 presidential election. But he was barred from standing when the Central Election Commission said it had found irregularities, including names of dead people,…
Read the original article here
The National Company Law Appellate Tribunal (NCLAT) Chennai bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Jatindranath Swain (Technical Member) has held that the order passed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (Code), directing the liquidation of the corporate debtor, cannot be set aside once the Successful Auction Purchaser has taken possession of the corporate debtor’s property pursuant to the sale conducted by the liquidator.
Brief Facts:
The Appellant has filed this appeal to challenge an order passed under section 33(2) of the Code by which the liquidation of the corporate debtor was ordered and Respondent No. 1 was appointed as the Liquidator.
The Corporate Debtor had…
Read the original article here
Building firm set to go into liquidation Dunfermline Press
Read the original article here
KleuterZone boss gambled away millions, liquidators allege – as they gun for his sequestration News24
Read the original article here
Romania’s UCM Resita goes bankrupt SeeNews
Read the original article here
The National Company Law Tribunal (NCLT) has ruled in favour of food delivery giant Zomato, dismissing an insolvency plea filed by B2B apparel manufacturer Nona Lifestyle over alleged unpaid dues of Rs 1.64 crore, CNBC TV18 reported. The decision brings significant relief to Zomato, which was embroiled in a legal battle over non-payment claims linked to rider uniforms and ICC World Cup 2023 jerseys.
What is the Zomato dispute?
The dispute arose when Nona Lifestyle accused Zomato of defaulting on payments for uniforms supplied to its delivery partners. According to the supplier, it had fulfilled all contractual obligations, including the timely delivery of customised apparel. However, Zomato reportedly refused to accept certain…
Read the original article here
jacksonville.com wants to ensure the best experience for all of our readers, so we built our site to take advantage of the latest technology, making it faster and easier to use.
Unfortunately, your browser is not supported. Please download one of these browsers for the best experience on jacksonville.com
Read the original article here
A Christchurch takeaway and restaurant business with sushi outlets under the Hachi Hachi brand has folded while owing staff holiday pay and a hefty tax bill.
The seven companies, owned by Hachi Hachi founders and directors Titi Khemarangsan and Bundit Kijpalakorn, were placed in voluntary liquidation on March 25.
Initial liquidator reports for the businesses amounted collectively to a total estimated shortfall of $2.54 million, including $1.37m owed to Inland Revenue (IRD) in income tax for employees’ wages (PAYE) and goods and service tax (GST).
This included nearly $130,000 in holiday pay owed to out-of-pocket staff.
The liquidator noted the IRD had begun recovery action with the directors placing the companies in voluntary…
Read the original article here
The petition was filed by Nona Lifestyle, a B2B apparel manufacturer, which claimed that Zomato failed to pay for rider uniforms and merchandise, including jerseys for the ICC World Cup 2023. According to Nona Lifestyle, the company fulfilled its contractual obligations but faced payment delays, refusals of delivery over storage concerns, and pressure from Zomato to offer discounts.
Zomato has denied the allegations, maintaining that payments were made for all uniforms supplied within the agreed timeframe. It further claimed that…
Read the original article here
Nona Lifestyle had entered into a business relationship with Zomato to supply uniforms for its employees and delivery partners, including merchandise for the ICC World Cup 2023. The company had planned a campaign during the World Cup.
As per the petition, Zomato placed multiple orders for various apparel items, including rider t-shirts, trousers and World Cup jerseys, throughout 2023. Nona Lifestyle claimed that it fulfilled its obligations by manufacturing and delivering the ordered goods in part.
However, the company alleged that Zomato consistently delayed payments and failed to take delivery of substantial portions of the ordered products.
According to Nona, Zomato repeatedly delayed payments, returned deliveries citing lack of…