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The extraordinary general meeting was convened in December after it became evident that the company’s equity had plummeted to minus 29.5 billion kronor. Shareholders were presented with two options: to continue operations or to liquidate the company – selling off all assets, settling as much debt as possible, and then ceasing operations. It has now been confirmed that shareholders chose to follow the board’s recommendation to continue operations.
“This is a positive outcome that reflects the support of our shareholders as we strive to achieve our ambitions and maximise our value,” wrote communications director, Matti Kataja.
Marie Karlsson Tuula, Professor of Civil Law at Linnaeus University and an expert in bankruptcy, said she would…
The founder of RBG Holdings has said the listed legal services group is “insolvent” and that he would consider suing its board for an allegedly “defamatory’’ statement made to the market as it ousted him from the firm on Wednesday morning.
In an escalation of the bitter boardroom battle, RBG announced a consultancy agreement with Ian Rosenblatt, its founder, leading shareholder and top fee earner, had been suspended after it claimed he breached agreements by setting up a rival outfit.
It also claimed he demonstrated “offensive behaviour unbecoming of a solicitor and consultant to RBG’’ when he allegedly used “egregiously foul and offensive language” in a meeting.
As the year 2024 nears its end, LiveLaw brings to you a summary of important Supreme Court judgments of the year rendered in connection with the Insolvency and Bankruptcy Code, 2016. The same are as follows:
1. IBC – Is Dissenting Financial Creditor Entitled To Minimum Value Of Security Interest? Supreme Court Refers To Larger Bench, Doubts Precedent
In this case, a bench comprising Justice Sanjiv Khanna (now CJI) and Justice SVN Bhatti referred to a larger bench the issue whether a dissenting financial creditor is to be paid the minimum value of its security interest as per the IBC. The bench differed from the view expressed by a coordinate bench…
In a significant move to enhance the functioning of the National Company Law Tribunal (NCLT), the Ministry of Corporate Affairs (MCA) has appointed 24 Judicial and Technical Members to the tribunal’s Principal Bench in New Delhi.
The announcement, made on January 7, marks a strategic step towards expediting corporate dispute resolutions and strengthening India’s corporate governance framework.
The new appointees include 11 Judicial Members and 13 Technical Members, who will serve a five-year tenure or until they reach the age of 65, whichever comes first. These appointments are expected to improve the tribunal’s capacity to handle cases more efficiently, addressing the growing demands in areas such as insolvency, corporate…
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Borrowers can start reducing their credit card debt by making select moves this January.
FRANCESCO CARTA/Getty Images
For many American credit card holders, record-high interest rates are turning routine charges into compounding debt. The holiday season only made things worse — as spending on gifts, travel and celebrations pushed many card balances even higher.
But there’s hope if you’re drowning in credit card debt this January. We spoke with finance professionals who shared their most powerful strategies for breaking free. Whether you’re dealing with one maxed-out card or juggling several balances, their advice can…
It doesn’t roll off the tongue as KTM does, but by the end of this piece, you’re going to know a little more about the Austrian metal foundry called Vöcklabrucker Metallgießerei GmbH.
For one thing, it’s been around for a long time—since 1955, in fact. That means, if you’re doing the math, it was due to celebrate its 70th anniversary in 2025. While that doesn’t quite have the punch of a 75th anniversary, it’s still a long time for a company to be around. Most probably, it would’ve taken great pride in celebrating the decades of metalwork it had provided to its customers.
