Stock Market Today: Stock Market Today: `AGS Transact Technologies share price hit stock hits 5% lower circuit during the intraday trades on Monday. The company has intimated exchanges about a creditor filing an application before the NCLT- Mumbai Bench under section 9 of Insolvency and Bankruptcy Code

AGS Transact Technologies faces insolvency over unpaid dues

AGS Transact Technologies in its intimation to the National Stock Exchange of India Ltd (NSE) and BSE Ltd said that “we wish to inform you that a petition has been filed under section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC”) by M/s. Maxwel Aircon India Private Limited, Operational Creditor of the Company, before the National Company Law Tribunal – Mumbai Bench…

Star Entertainment’s chief executive Steve McCann is trying to secure more than $100 million in short-term funding, a move that would allow the casino group to survive until May and give it time to land a longer-term rescue deal.

People with knowledge of the matter who were not authorised to speak publicly said McCann was trying to get access to $60 million from the sale of Star’s Sydney events centre last month which is currently being held in escrow, and a bridge loan from an unidentified third party.

Loading…

Shares of Coffee Day Enterprises Ltd (CDEL) soared as much as 20% on Monday to Rs 25.65 on the BSE after the National Company Law Appellate Tribunal (NCLAT) set aside insolvency proceedings against the company, offering a major relief to the operator of the Café Coffee Day chain.

The Chennai bench of the NCLAT overturned the National Company Law Tribunal’s (NCLT) August 2024 order that had admitted an insolvency plea filed by IDBI Trusteeship Services Ltd over an alleged default of Rs 228 crore. A detailed copy of the ruling is awaited.

In a stock exchange filing, Coffee Day Enterprises said the appellate tribunal had allowed its appeal and annulled the insolvency resolution process that had been initiated against it. The order was…

Closing sales have begun at 122 retail stores operated by Liberated Brands after the company filed for bankruptcy last week.

The move affects all of Liberated’s retail fleet, including retail locations for Billabong, Roxy, RVCA and Quiksilver, among others brands in the Boardriders portfolio, according to a news release from Gordon Brothers, the firm handling Liberated’s liquidation sale.

Gordon Brothers is…

Administrators have been appointed for Technicolor Creative Studios UK, the historic visual effects studio that has shut down, with 440 redundancies.

Nick Holloway and David Pike from advisory firm Interpath were named as joint administrators to the UK Technicolor division on Monday. “The Group had been facing financial challenges for some time, exacerbated by rising labor costs, as well as the long-tail impact of the 2023 writers’ strike which delayed projects,” Interpath said in a statement.

Directors of the UK Technicolor division looked at a possible sale of refinancing of the company. “But with no solvent options available, they took the difficult decision to file for the appointment of administrators,”…

The aviation industry again faced significant turbulence in 2024, with 14 airlines ceasing operations due to financial challenges and market dynamics. We look at the airlines that went bankrupt and those that rebranded or restructured in 2024.

---

Those that ended operations…

CSA (Czech Republic)

CSA, a century-old airline, operated with a reduced fleet of two Airbus A320s after facing near-collapse in 2021 post covid. In 2024, its operations were absorbed by Smartwings, with CSA being converted into a holding company. This marks the end of its membership in the SkyTeam alliance.

Bonza (Australia)

Bonza, an ambitious low-cost airline aimed at serving underserved Australian markets, shut down in mid-2024. Despite backing from 777 Partners and a…

AC Milan owner Gerry Cardinale feels that Inter Milan “went bankrupt” after winning the Serie A title, which he wants to avoid.

The Rossoneri owner and US businessman, founder of RedBird Capital, aimed a shot at his team’s city rivals while speaking to Harvard Business School in a case study on Milan.

Cardinale has been the owner of AC Milan for over two years now.

The US businessman took over the Rossoneri in the summer of 2022.

During Cardinale’s time at the helm, there have been some ups and downs. And naturally, he has crossed paths with Inter on quite a few occasions.

On the pitch, the derby rivals have gone head to head on numerous occasions. This included a two-legged Champions League semifinal tie.

Inter went…