Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
SINGAPORE – Close to 100 creditors are owed slightly over $1 million by confectionery chain Twelve Cupcakes, according to one of its appointed liquidators from AAG Corporate Advisory on Nov 25.
This excludes the
unpaid salaries owed to 80 former employees
.
The company has entered full liquidation as of Nov 24, the liquidator confirmed with The Straits Times over a call. While a committee of inspection, which acts as a representative body for consultations with the liquidators, was not appointed on Nov 24, volunteers are expected to come forward.
In a presentation seen by ST, the highest amount is owed to Tee Yih Jia Food Manufacturing at about $196,000, while others included baking supplies provider Phoon Huat, market expansion services…
Homeplus failed to make the main bid, \n2nd sale and rehabilitation plan review commenced\n If the company’s proposal for participating in the preliminary bid fails to submit\n2nd sale, the possibility of liquidation ‘realization’
Homeplus Dongdaemun Branch [Reporter Lee Seung Hwan]
The possibility of liquidation is rising again as the first sale of Homeplus, which is in the process of corporate rehabilitation, has collapsed. When there were no companies participating in the main bid, the second sale process began, and some observers say that if this fails, the court could consider liquidation.
According to the industry on the 26th, no company has taken over Homeplus…
AGS Transact Technologies Ltd. ( (IN:AGSTRA) ) has issued an announcement.
AGS Transact Technologies Limited has announced that the fourth meeting of its Committee of Creditors is scheduled for November 28, 2025, as part of its ongoing Corporate Insolvency Resolution Process (CIRP). This meeting, which will be conducted via video conferencing, is a crucial step in the company’s efforts to address its financial challenges and work towards a resolution plan. The outcome of this meeting could have significant implications for the company’s operations and its stakeholders.
The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that the failure to communicate the individual score and ranking of a resolution applicant does not invalidate the corporate insolvency resolution process.
The Tribunal ruled that the Consortium of Govindrao Sable’s objection to the non disclosure of its scorecard did not affect the approval of the successful resolution plan for KGS Sugar and Infra Corporation Private Limited.
The Insolvency and Bankruptcy Code does not require the Committee of Creditors to share scorecards, and the requirement to communicate individual scores and rankings arose only from the CoC’s own evaluation framework. Against this backdrop, the appellate tribunal found that the alleged…
Alpha Energy Holdings ( (SG:VVL) ) just unveiled an announcement.
Alpha DX Group Limited, currently in compulsory liquidation, has announced that there have been no material developments regarding its affairs since previous updates. The liquidators have committed to providing further announcements should any significant changes occur. Shareholders are advised to seek professional guidance if uncertain about their next steps.
Running a company can be challenging, especially when cash flow pressures build. If you find yourself in financial difficulty, there are alternative pathways for small businesses other than traditional liquidation and administration.
Must be a corporation to qualify
In 2021, new laws were introduced to make corporate insolvency simpler and more affordable for small, incorporated companies. The changes introduced are the Simplified Restructuring Process, and the Simplified Liquidation Process.
Unincorporated businesses, such as sole traders and partnerships, fall under personal bankruptcy laws, which provide separate options and obligations under the Bankruptcy Act 1966 (Cth).
The Bombay High Court has said that a person cannot use the Presidency-Towns Insolvency Act, 1909 to escape or delay paying court-ordered maintenance. The Court made it clear that insolvency proceedings cannot block or weaken a Family Court’s maintenance order in any way.
Facts:
Justice Jitendra Jain delivered the ruling while hearing a husband’s plea to be declared insolvent. The husband said he could not pay ₹22,30,000 in arrears that had built up after a Family Court ordered him to pay his wife ₹25,000 every month. He claimed his monthly income was only ₹12,000–₹15,000 and argued that he met the requirements under Sections 9(1)(f) and 14(1)(a) of the 1909 Act, which he said should allow him…
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