Case Title: Ansal Crown Heights Flat Buyers Association (Regd.) vs. M/S. Ansal Crown Infrabuild Pvt. Ltd. & Ors.

Citation: 2024 LiveLaw (SC) 63

The Supreme Court has held that the imposition of moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) has no effect on the execution of a decree against the Directors or Officers of the Company (Corporate Debtor), which is undergoing Corporate Insolvency Resolution Process (“CIRP”) under IBC.

When the Company was admitted into CIRP, the National Consumer Disputes Redressal Commission (“NCDRC”) declined to permit execution of a decree against the Company and also its Directors/Officers. The Bench held that the protection of …

PwC noted that trends seen in the nine months to the end of September last year were slightly reversed during the last three months of the year.

At the end of September, insolvency numbers were running 34% higher when compared to the same period in 2023. However, between October and December…

Elon Musk, Tesla CEO and tech billionaire, has recently expressed concerns about the US economy, warning that the nation could face bankruptcy “super fast” without significant intervention. Musk made the comments on The Joe Rogan Experience, voicing concerns about the US national debt which has reached a staggering $36.17 trillion and the growing burden of interest payments, which have surpassed $1 trillion annually. According to Elon Musk, if drastic measures are not taken soon, the dollar’s value could plummet to “nothing”, leaving the country in financial ruin.

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“The interest payments, which are already 23% of all…

The court has declared the Zeeland transhipment company Bulk Terminal Zeeland (BTZ) bankrupt. The company, which operated a transhipment terminal in Quarleshaven in Vlissingen-Oost, recently had to shut down due to suspicions of involvement in drug trafficking.

Last week, it became evident that bankruptcy was imminent. The company was granted a moratorium on payments, a step often seen as a precursor to bankruptcy.

As BulkMaterials International previously reported, Vlissingen’s mayor, Bas van den Tillaar, ordered the terminal’s closure.

The Public Prosecution Service suspects three of the company’s directors of importing cocaine from South America, participating in a criminal organization, and committing forgery. Bulk Terminal…

Escondido, CA, January 05, 2025 –(PR.com)– Debt Management Plans seem like a practical way to pay off your credit card debt. After all, who doesn’t want lower interest rates? Wouldn’t we all love to have lower payments as well? But what are the success rates of clients completing the plan?

DebtWave Credit Counseling analyzed data on clients that enrolled on their program during a five-year period from 2016 to 2020. Results showed that 68.4% percent successfully completed their debt management plan. During that period, 14,670 people enrolled and 10,038 of them have since paid their debt in full.

“It’s great to see such a high percentage of clients pay off their debt on our program,” said Michael Marsden, Director of…

Jakarta – Indonesian textile giant Sri Rejeki Isman is contesting a court decision that declared it bankrupt as the company owner pledges to keep its factory open and see through the revival of the business.

Sritex, as the company is more commonly known, filed an appeal on Oct 25, requesting a review of the local court’s bankruptcy ruling, according to the court’s website. The court on Java island – where Sritex is based – had earlier granted the plaintiff’s demand to declare the company and its subsidiaries bankrupt for failing to meet payment obligations set in a debt restructuring agreement from 2022.

The appeal came as Indonesia’s newly minted President Prabowo Subianto called for a meeting on Oct 29 and ordered his…