Insolvency Guardian Media Centre

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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Adam Hollioake was declared bankrupt in 2011 after the global property crash and turned to cage fighting to pay the
Money  The Guardian Read the original article here
At the depths of Sam’s addiction, they were unable to pay rent or billsSam first started gambling for 'a bit
Interim Superintendent Catty Q. Moore approved opening 40 previously frozen school-based positions following the adoption of the district’s final fiscal
NEW DELHI: The Enforcement Directorate on Friday claimed to have unearthed a case where the Insolvency and Bankruptcy Code (IBC)
Access Denied You don't have permission to access "http://www.business-standard.com/industry/news/ibbi-directive-on-29a-compliance-125111901152_1.html" on this server. Reference #18.d1672817.1763782516.e8ed71e https://errors.edgesuite.net/18.d1672817.1763782516.e8ed71e Read the original article here
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has upheld the Enforcement Directorate’s (ED) provisional attachment of
The National Company Law Appellate Tribunal (Principal Bench, New Delhi) has admitted a Section 9 application filed by Tremco CPG
Winston-Salem/Forsyth County Schools receives major debt relief, opens 40 school positions  wfmynews2.com Read the original article here
MUMBAI: Bombay high court on Thursday dismissed as misconceived a husband’s plea to be declared insolvent under the Presidency Towns
The Insolvency and Bankruptcy Board of India (IBBI) has disposed of a Show Cause Notice (SCN) issued against Insolvency Professional



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Adam Hollioake was declared bankrupt in 2011 after the global property crash and turned to cage fighting to pay the bills after captaining England’s One Day side

Former England captain Adam Hollioake turned to cage fighting after being declared bankrupt in 2011. Born in Australia, the 54-year-old represented England on the cricket field.

Hollioake is best known for his tenure with Surrey, where he led the team to three County Championship titles as captain from 1997 to 2003. He made his One-Day International (ODI) debut in 1996 and despite not making a significant impact in Test matches he played in 35 ODI games and guided his team to victory in the Sharjah Cup in 1997.

After…

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Money  The Guardian

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At the depths of Sam’s addiction, they were unable to pay rent or bills

After being nearly £30,000 in debt due to a gambling addition, Sam was able to put in the hard work and is now debt-free. To mark Safer Gambling Week, Sam opened up on their story urged others to take that very first step to getting help but admitted it’s one of the hardest things to do.

Sam, from Merseyside, said: “If you have a gambling problem, I urge you just to speak to someone. Making that first step is really hard, but once someone knows, they’re there beside you.

“They want to help you. And just having that one person – it’s such a big step, but it’s the most…

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Interim Superintendent Catty Q. Moore approved opening 40 previously frozen school-based positions following the adoption of the district’s final fiscal year budget.

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NEW DELHI: The Enforcement Directorate on Friday claimed to have unearthed a case where the Insolvency and Bankruptcy Code (IBC) process was “misused” in the land sale of an insolvent real estate company.

It said Rs 50 lakh in cash was seized during raids from a lawyer practising at the NCLT and another person.

The federal probe agency said in a statement that it conducted searches on Thursday in Delhi and Gurugram as part of a probe against a company named Universal Build Well Pvt. Ltd. and its promoters for non-completion of real estate projects and for “cheating” homebuyers and investors.

The company was undergoing a corporate…

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The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has upheld the Enforcement Directorate’s (ED) provisional attachment of the respondent’s properties and bank accounts made prior to the initiation of insolvency proceedings.

The dispute arose from the resolution process of Alchemist Infra Realty Ltd., a real estate company incorporated in 2008.

The Enforcement Directorate (ED) had provisionally attached the company’s properties and accounts on 24 January 2019 under Section 5 of the Prevention of Money Laundering Act (PMLA), following a complaint by SEBI alleging offences under the SEBI Act, 1992. The Delhi High Court, in February 2019, directed maintenance of the status quo over the…

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The National Company Law Appellate Tribunal (Principal Bench, New Delhi) has admitted a Section 9 application filed by Tremco CPG (India) Private Limited against Brite Proofings Private Limited, leading to the initiation of a Corporate Insolvency Resolution Process (CIRP).

The Tribunal held that the Operational Creditor had established the existence of a debt exceeding the statutory threshold and a default, and that the Corporate Debtor’s contentions regarding a pre-existing dispute and procedural defects were untenable.

The application was filed by Tremco CPG (India) Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for an alleged operational debt of Rs….

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Winston-Salem/Forsyth County Schools receives major debt relief, opens 40 school positions  wfmynews2.com

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MUMBAI: Bombay high court on Thursday dismissed as misconceived a husband’s plea to be declared insolvent under the Presidency Towns Insolvency Act of 1909 and also for a stay of a 2021 Mumbai family court order to pay his wife Rs 25,000 per month as maintenance.Justice Jitendra Jain held that seeking a stay of the family court order, the husband, under the guise of insolvency proceedings, would undermine its very purpose and also that the insolvency law can’t be allowed “to be abused”. The HC added that the conjoint reading of the provisions of the Act bar the HC from passing an order on mere invocation of the law.The court analysed various provisions of the Act as well to hold it would not apply to the husband’s case. It…

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The Insolvency and Bankruptcy Board of India (IBBI) has disposed of a Show Cause Notice (SCN) issued against Insolvency Professional for an alleged conflict of interest, deferring any final action until the National Company Law Tribunal (NCLT) rules on a related application.

The Disciplinary Committee (DC) found that while there was a prima facie case of a violation of the Insolvency and Bankruptcy Code (IBC), the core issue was also sub-judice before the NCLT in a separate application. To avoid conflicting findings and multiplicity of proceedings, the DC directed the IBBI Board to await the NCLT’s decision before re-examining the matter.

The SCN was issued based on a complaint against the Resolution…

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