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MedTechDealsThe board of MedTech Achilles Therapeutics is proposing a members’ solvent voluntary liquidation. The London-headquartered firm, which has an office
The Insolvency and Bankruptcy Board of India has amended rules to ease homebuyers’ woes in stalled real estate projects, allowing them to take possession while resolution is underway.
New Delhi, Feb 5 (PTI) The Insolvency and Bankruptcy Board of India has amended rules to allow distressed homebuyers to take possession of their properties while the resolution process is ongoing.
The amendments, notified on February 3, and effective immediately, aim to enhance efficiency in insolvency proceedings, particularly for real estate projects, by introducing measures such as appointing facilitators, involving land authorities in the process, and ensuring better monitoring of resolution plans, according to an official release.
The insolvency watchdog has proposed a raft of regulatory changes, including a two-staged approval process for rescue plans, part-sale of stressed firms and a new mechanism to handle bankruptcy of interconnected entities of a corporate group, to speed up resolutions and prevent the erosion of toxic asset value. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) has suggested that under the two-stage approval process, the financial bid and the basic implementation framework of the resolution plan may be approved early. This would allow the successful resolution applicant to take over the stressed firm and implement the rescue plan early.
Subsequent hearings by the National Company Law Tribunal (NCLT) could address…
The news: Budget airline Bonza Aviation has entered liquidation after the company’s creditors held a second meeting on the future of the company on Tuesday.
The context: In April, Bonza entered into voluntary administration after abruptly cancelling flights across Australia, stranding hundreds of domestic passengers, as it considered “the ongoing viability of the business”.
Bonza’s administrators had run a sales campaign over recent months involving investors, other airlines and travel companies, but had not received any offers for the sale of the business and/ or its assets at the end of that campaign period.
A media statement from administrators Hall Chadwick on Tuesday said the liquidators of the company Richard Albarran, Kathleen…
The insolvency watchdog has proposed a raft of regulatory changes, including a two-staged approval process for rescue plans, part-sale of stressed firms and a new mechanism to handle bankruptcy of interconnected entities of a corporate group, to speed up resolutions and prevent the erosion of toxic asset value. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) has suggested that under the two-stage approval process, the financial bid and the basic implementation framework of the resolution plan may be approved early. This would allow the successful resolution applicant to take over the stressed firm and implement the rescue plan early.
Subsequent hearings by the National Company Law Tribunal (NCLT) could address…
Earlier this month on 6 December, Billson’s narrowly avoided being placed into liquidation after creditors went to vote as to whether the business should continue operating.
According to Matthias Blume, Vice President of Marketing for Coca-Cola ASEAN and South Pacific, “this acquisition allows us to expand in the dynamic and growing alcoholic ready-to-drink category in Australia and aligns with our vision to provide a beverage for every…
The board of MedTech Achilles Therapeutics is proposing a members’ solvent voluntary liquidation.
The London-headquartered firm, which has an office in Philadelphia and facilities at Stevenage Bioscience Catalyst, sold some of its technology assets to AstraZeneca late last year for $12m.
Achilles, founded in 2016, was developing precision T cell therapies that target clonal neoantigens – protein markers unique to each individual that are present on the surface of a cancer cell and can be detected by the immune system.
Should shareholders back the proposals, it is expected that approximately £1.20 to £1.32 per share would be returned to them. At the close of the markets yesterday, the value of each share was around…
The Forward AM brand and company was initially set up by BASF, before being spun out into an independent entity earlier this year. Upon transitioning from BASF to an independent company, Back told the Additive Insight podcast that Forward AM took with it the Sculpteo service offering, 400 patents, and more than 60 commercialised materials products. The company also…
Syncona (SYNC) says that its portfolio company, Achilles Therapeutics Plc, has announced that its board has recommended a members’ solvent voluntary liquidation and a return of capital to shareholders. SYNC’s announcement says that, based on the information currently available to Achilles and, assuming that Achillies’ shareholders approve the liquidation proposals and associated resolutions, it is currently expected that Achilles’ ordinary shareholders will receive approximately £1.20 to £1.32 per share or US$1.50 to US$1.66 per share through the voluntary liquidation.
SYNC currently holds 11,086,909 American Depositary Shares (ADSs), representing 11,086,909 ordinary shares in Achilles and, as of 30 September 2024,…
