Insolvency Guardian Media Centre
Busy Bee Airways Pvt Ltd, one of the bidders for the grounded airline Go First, has approached the National Company Law Appellate Tribunal (NCLAT) to challenge the airline’s liquidation.
On 20 January the National Company Law Tribunal (NCLT) issued an order that sent Go First into liquidation after the airline’s creditors unanimously voted to liquidate the debt-ridden carrier, citing its lack of assets and a viable recovery plan.
An NCLAT bench led by chairperson Justice Ashok Bhushan, is set to hear the bidder’s plea on Thursday, 23 January. On 21 January, Busy Bee Airways informed the NCLT of its decision to contest the liquidation, saying it intended to submit a resolution plan to take over the airline.
Also read | Go First case:…
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Teachers, nurses and other eligible public servants enrolled in the Public Service Loan Forgiveness program could see their student loan balances wiped out after 10 years in their field and 120 qualifying monthly loan payments. If you were due to receive debt relief last year or expected to hit the 120-payment mark this year, a new program can help you apply for debt relief during the SAVE payment pause.
The PSLF Buyback program offers the opportunity for eligible borrowers to “buy back” no-payment months that didn’t count toward forgiveness while their loans were in forbearance or deferment.
The buyback option could help some borrowers in the PSLF program get debt relief sooner, but it’s not a shortcut to accelerate your progress…
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A household name in the UK, Katie Price has lived out the highs and lows of life in the spotlight.
An open book with her fans, the mother-of-five has documented many of her woes on her various reality series and in tell-all interviews.
Having courted the limelight as a teenage glamour model, the public have witnessed Jordan’s rocket to fame and occasional falls from grace.
Despite her fame and wealth, life has not come easily for Katie, who has battled bankruptcy, burglaries, assaults and drug abuse, while also navigating a very rocky love life.
Now we take a look back at her turbulent past.
Struggles: Despite her fame and wealth, life has not come easily for Katie, who has battled bankruptcy, burglaries, assaults and drug…
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AMSC to Distribute SMH Shares, Plans Liquidation TipRanks
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Mark Cuban believes he has a creative way to help the United States pay down its national debt, and you’ll never guess what the Shark Tank star has come up with: a meme coin.
Inspired by the rapid success of Donald Trump’s $TRUMP coin, Cuban revealed the makings of his plan Monday on X. With meme coins being “the way” as of late, he wants to add a “twist” to the concept that the $TRUMP coin followed with a “20% float” which refers to the amount of coins available for public trading (20%) versus those solely for corporate entities (80%). He also said his plan would follow the same release schedule as $TRUMP.
Videos by VICE
His twist is where the impact on the national debt comes into play. Today,…
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BBC News, Lancashire
Getty ImagesA plasterer fraudulently exaggerated his turnover by more than £200,000 to take up huge business loans during the coronavirus pandemic and blew the money on “gambling and fantasy football”.
Jordan Allen “blatantly” lied to secure a £50,000 payment in 2020 – the maximum companies were entitled to under the scheme, the Insolvency Service said.
The 39-year-old who pleaded guilty to fraud by false representation, was actually only eligible to claim £5,000.
Allen, of Monarch Street in Oswaldtwistle, Lancashire, was sentenced at Preston Crown Court to 16 months in prison, suspended for two years.
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The number of people falling into financial insolvency in England and Wales last year was 14 per cent higher than in 2023, driven by a record high in debt relief orders (DROs), the Insolvency Service said, writes David Connett.
A total of 117,947 personal insolvencies were registered in 2024, up from 103,434 in 2023. The total included 43,249 DROs – the most on record, up 36 per cent on 2023.
The sharp rise followed the expansion of eligibility criteria last June, when the debt threshold increased from £30,000 to £50,000, and the removal of an administration fee.
The number of compulsory company liquidations in England and Wales hit its highest level since 2014.
While company collapses fell five per cent year on year,…
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6 Things To Do Now If You Have Gambling Debt MSN
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The report cited NCLT as explaining, “As the debt in question does not qualify as operational debt, we do not deem it appropriate to delve into further facts and merits of the case. The essence of the IBC lies in resolving insolvency matters through a process…
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The National Company Law Tribunal (NCLT), New Delhi bench comprising Justice Manni Sankariah Shanmuga Sundaram (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member) has dismissed petition filed by Bollywood actor Akshay Kumar, seeking initiation of insolvency proceedings against Cue Learn Private Limited, an ed tech company. The Tribunal noted that the claim in question pertained to a breach of contract and was at best, a claim for liquidated damages. “Such claims require adjudication before a competent civil court and do not constitute crystallized debts that can be pursued under the insolvency resolution process”, the Tribunal remarked.
Brief Facts
Akshay Kumar (Applicant/Operational Creditor) filed the…
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The actor, who had entered an endorsement agreement with the edtech startup on March 8, 2021, sought to recover dues worth over INR 4.83 Cr via the initiation of a corporate insolvency resolution process
In its judgement, the NCLT said that this issue doesn’t qualify as a “debt” and thus is outside of its jurisdiction
The agreement stipulated Kumar to render his services in promoting the startup for a maximum of two days for a total of INR 8.10 Cr
The National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by actor Akshay Kumar against edtech startup Cuemath’s parent Cue Learn Pvt. Ltd. over non-payment of endorsement fee on January 7.
The actor, who had entered an endorsement agreement with…