Hellenic Dynamics

Hellenic Dynamics is facing down its second petition for compulsory liquidation this year as it continues to endure funding delays.

This week, Hellenic published an update to investors stating that a new petition for compulsory liquidation had been filed on November 01 by a shareholder.

According to the petition, which is now due to be heard in the High Court on December 18, Hellenic owes £32,274.26.

However, Hellenic’s directors are pushing back on the petition, claiming that as the petitioner is not a creditor of the company, the petition ‘amounts to an abuse of the process of the High Court’.

As such, Hellenic will be making an application for the petition to be dismissed.

This marks…

1 Gambling is Australia’s blind spot

Many people enjoy gambling without suffering harm. But it is all too easy to lose too much: these products have features that keep people coming back even when they are at risk of harm. That’s why gambling is strictly controlled in a number of countries.

Australia has taken…

The counsel for resolution professional of debt-ridden Go First told the Delhi bench of the National Company Law Tribunal on Thursday that its committee of creditors has approved the name of Dinkar Venkatasubramanian as the liquidator of the airline. The tribunal asked the counsel to amend its prayer in its petition where they had earlier sought Shailendra Ajmera as the liquidator of the airline. The tribunal will now hear the case next on December 6, when it might pass a short order on liquidation of the airline.

Go First will be the second airline which will go through the liquidation process after Jet Airways. On November 7, the Supreme Court had ordered liquidation of the debt-ridden Jet Airways after UK’s Kalrock Capital and…

Declared bankrupt by a court in Curaçao, Leicester City FC sponsor BC.GAME is about to lose its licence. Josimar has discovered that the operator is running one the largest illegal betting networks in continental Europe. 

By Philippe Auclair and Steve Menary

According to a document seen by Josimar, the Curaçao Gaming Control Board (GCB) is minded to revoke the licence of Small Dance B.V., the company which operates the online sports betting, casino and crypto trading platform BC.GAME, current sponsor of Leicester City FC and partner of the Argentinian football federation AFA.

Small House B.V. was declared bankrupt by the Joint Court of Justice of Aruba, Curaçao, Sint Maarten and the BES Islands on 12…

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Delhi High Court Chief Justice Manmohan noted that a growing economy cannot afford to have too many stressed assets and a quick resolution of a disputes is essential. However, in a commercial dispute, stakeholders have various interests and a resolution mechanism must ensure that such competing interests are balanced.

“We all know National Company Law Tribunals (NCLTs) are overburdened. Judicial system has a limited capacity, but in a country that is growing fast we need to look for new tools to resolve disputes. Mediation is one of the tools to try. It will be a game changer,” he stated.

He further opined that mediation offers flexibility from legal procedures and that mediation in insolvency will not only achieve the desired…