Insolvency Guardian Media Centre
SpiceJet on Thursday announced that aircraft lessor Aircastle (Ireland) Designated Activity Company has withdrawn its insolvency case against the airline before the National Company Law Tribunal (NCLT), after reaching a $5.6 million settlement. This comes as a major relief for SpiceJet. The development follows a mutually agreed-upon settlement, marking a positive turn in the airline’s efforts to rebuild and strengthen ties with its partners, SpiceJet said in a statement.
Earlier last month, SpiceJet had announced the resolution of a $23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Limited. “The settlement was reached for an aggregate sum of $5 million,…
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The NCLT Mumbai bench of Ms. Reeta Kohli (Judicial Member) and Ms. Madhu Sinha (Technical Member) has held that in a sale of the corporate debtor in liquidation as a going concern, only assets are transferred and liabilities have to be discharged as per section 53 of the Code.
Brief Facts
The Present Application is preferred by the Applicant for seeking various concessions and reliefs in relation to the assets sold as going concern Corporate Debtor.
The Company Petition No. 1088 of 2020 was filed to initiate the Corporate Insolvency Resolution Process against the Corporate Debtor i.e. Topsgrup Services and Solutions Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor was admitted…
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Debt clearing structure will help fiscal planning, stability The Herald
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Credit card debt is on the rise, and with rates at their highest point on record, it’s no surprise.
For many consumers, Black Friday — and the entire upcoming holiday season — will only aggravate the issue, leading to even more in stressful credit card debt. Fortunately, there are things you can do to prepare and, ideally, reduce your debt before going into the holiday season.
Want to make sure you’re prepared as Black Friday rolls around? We asked some experts for their suggestions.
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As part of the settlement, all ongoing litigations and disputes between Spicejet and Aircastle (Ireland) Designated Activity Company have been withdrawn from the appropriate forums.
Last month, SpiceJet announced the resolution of a $23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) Ltd.
Spicejet on Thursday said aircraft lessor Aircastle (Ireland) Designated Activity Company has withdrawn its insolvency case against the budget airline before the National Company Law Tribunal (NCLT). This follows a mutually agreed-upon settlement, marking a positive turn in the airline’s efforts to rebuild and strengthen ties with its partners.
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We had our concerns a few months ago when BASF Forward AM announced a strategic buyout decision. These concerns have been followed by rumors of an insolvency process undertaken by the newly created company in the midst of Formnext. These concerns have now been confirmed by the company that began insolvency proceedings with the District Court of Heidelberg on November 21, 2024.
Forward AM has stated that it is dedicated to fulfilling current and upcoming orders, with the insolvency process aimed at securing new investments. The company hopes these investments will provide a stronger foundation for long-term success.
The District Court of Heidelberg has appointed Tobias Wahl, a partner at…
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Aussies scoop up cheap gifts from sports company liquidation The Canberra Times
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On 6 November 2024, the Federal Court dismissed the Australian Securities and Investments Commission’s (ASIC) case against Paul Ryan, a director of Dixon Advisory & Superannuation Services Pty Limited (DASS). The case alleged that Mr Ryan had breached his directors’ duties by failing to consider the interests of DASS’ creditors when the company was approaching insolvency.
The findings from this case demonstrate that a director who acts in good faith, reasonably relies on professional advice, and independently assesses the assumptions behind that advice may be able to successfully defend against claims of breaching their duties as a director when making decisions when facing a potential insolvency.
Background…
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Aussies scoop up cheap gifts from sports company liquidation The Border Mail
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Aussies scoop up cheap gifts from sports company liquidation The Courier
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Qoo10 ordered to enter liquidation over $54 million debt Inside Retail Asia
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:
1. Open the settings menu by clicking the hamburger menu in the top right
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