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.
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LONDON – Dunedin Enterprise Investment Trust PLC has announced its entry into voluntary liquidation following a special resolution passed by shareholders at a General Meeting held today. The decision was approved by an overwhelming majority, with 94.21% of votes supporting the motion.
The liquidation process will be overseen by Gareth Rutt Morris and Jonathan Dunn of FRP Advisory Trading Limited, who have been appointed as joint liquidators. The resolution also authorizes the liquidators to distribute cash to the shareholders proportionately to their shareholdings and outlines their entitlement to remuneration for services rendered during the liquidation.
A total of 1,109,353 votes were cast, with 1,045,104 votes for the resolution,…
Volocopter GmbH filed an application for the opening of insolvency proceedings at the Karlsruhe Local Court on Dec. 26, 2024.
The Karlsruhe Local Court began the provisional insolvency administration the following day and appointed Tobias Wahl, partner, and attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator.
Volocopter is a pioneer of urban air mobility (UAM), developing all-electric vertical take-off and landing (eVTOL) aircraft and a digital backbone that connects aircraft, infrastructure, and operators, the VoloIQ.
Founded in 2011, the start-up company is nearing the finish line to obtain aircraft type certification and launch its urban eVTOL, the VoloCity.
Nuvoco Vistas Corporation Ltd, the building materials division of the Nirma Group, on Monday (January 6) said it has emerged as the successful resolution applicant (SRA) in the corporate insolvency resolution process (CIRP) of Vadraj Cement Ltd (VCL).
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The Committee of Creditors (CoC) has approved the resolution plan submitted by Nuvoco Vistas and a letter of intent (LOI) has been issued, confirming Nuvoco Vistas as the selected bidder for Vadraj Cement’s assets.
The transaction will be implemented by Vanya Corporation Private Ltd, a wholly-owned subsidiary of Nuvoco Vistas Corporation. Nuvoco intends to fund the transaction without a significant rise in its consolidated debt levels.
Nuvoco Vistas Corp Ltd has emerged victorious in the acquisition of Vadraj Cement Ltd, currently under corporate insolvency resolution. The Committee of Creditors has approved Nuvoco’s resolution plan, and a Letter of Intent has been issued.
The acquisition will be managed through Vanya Corporation Pvt Ltd, a Nuvoco subsidiary. The company plans to finance this acquisition without significantly elevating its debt levels, aiming for a phased investment over 15 months to refurbish assets and enhance Vadraj Cement’s operational output.
Upon successful integration, Nuvoco’s production capacity will reach 31 million metric tonnes per annum, solidifying its rank as the fifth-largest cement producer in India. The deal also promises…
Nuvoco Vistas Corp. Ltd., India’s fifth-largest cement group and a leading player in East India, has emerged as the SRA of Vadraj Cement Limited (VCL), currently undergoing Corporate Insolvency Resolution Process. The Resolution Plan submitted by Nuvoco has been approved by the Committee of Creditors (‘CoC’), and a Letter of Intent (LOI) has been issued.
The transaction will be implemented by Vanya Corporation Private Limited, a wholly owned subsidiary of Nuvoco Vistas Corp. Ltd. Nuvoco intends to fund the transaction without a significant rise in its consolidated debt levels. A phased investment will be spread over 15 months towards the refurbishment of assets and to drive…
Arrests have been made following two FCA investigations into unauthorised debt and claims management activities.
The regulator said it had executed search warrants at seven addresses across the West Midlands, Cambridgeshire, Stirling and Cumbernauld.
It carried out the operations with the help of West Midlands Police, the Eastern Region Special Operations Unit and Police Scotland.
Two individuals were arrested in Birmingham and Huntingdon on suspicion of being involved in debt and claims management activities when they were not authorised by the FCA to do so.
They were interviewed under caution and then released. The FCA’s investigations continue.
