Insolvency Guardian Media Centre
Scotland’s insolvency service appointed a specialist insolvency practitioner to manage the bankruptcy estate of former Scottish First Minister Alex Salmond. The service confirmed Kenny Craig from Begbies Traynor as bankruptcy trustee on Friday, following an application by Salmond’s widow Moira.
The appointment comes after significant court costs accumulated from legal battles against the Scottish Government. Salmond, who died of a heart attack in October 2024, had previously won £512,000 in a successful lawsuit against the Scottish Government over its handling of harassment complaints against him, which a court found to be “tainted with apparent bias.”
Ongoing legal proceedings
At the time of his death, Salmond was pursuing further legal…
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The National Company Law Appellate Tribunal (NCLAT) New Delhi bench upheld the initiation of Corporate Insolvency Resolution Process (CIRP) against Majestic Hotels Limited holding that defaults occurred before COVID-19 suspension period are not protected by section 10A of the Insolvency and Bankruptcy Code, 2016 (IBC) even if payments were to be made during the suspension period.
A bench comprising Justice Ashok Bhushan and Mr. Indevar Pandey (Technical Member) dismissed an appeal filed by the suspended directors of the corporate debtor and affirmed an order passed by the National Company Law Tribunal (NCLT) under section 7 of the IBC admitting the petition filed by U.V. Asset Reconstruction Company Ltd. (UVARCL).
“The…
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Kottayam: The Congress has stepped in to stop a private financier from evicting a woman and her differently abled daughter over a loan default. Following the intervention of Kottayam MLA Thiruvanchoor Radhakrishnan, an agreement was reached allowing Usha Kumari of Vishnu Vilasam, Poovanthuruth, Panachikkad, and her daughter to continue living on the first floor of their house until the matter is settled in court.
The intervention came a day after Manorama reported their plight. Usha Kumari and her daughter have been facing severe financial hardship after her husband, P Sivadasan, allegedly took a ₹51 lakh loan from a…
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Around 15 companies, including Vedanta Ltd., Refex Industries Ltd. and Jindal Power Ltd. have shown interest in resolving the debt and operations of distressed electric vehicle firm BluSmart Electric Mobility as part of its insolvency resolution process, people aware of the matter told NDTV Profit.
While multiple companies initially reviewed the assets of BluSmart, a final list of prospective resolution applicants is now expected to submit resolution plans by early December, one of the abovementioned people explained on the condition of anonymity.
In a corporate insolvency resolution process, a prospective resolution applicant is an entity that expresses interest in submitting a plan to resolve the debts and operations of the…
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BluSmart Electric Mobility Attracts Interest from 15 Companies in Insolvency Resolution scanx.trade
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A MAN who stored a “significant” amount of cocaine for a local drug gang in order to pay off gambling debts was given a fully suspended three-year prison sentence at Limerick Circuit Criminal Court.
Christopher Wallace (55), of Cregan Avenue, Kileely, Limerick, pleaded guilty to one count of possession of €60,000 worth of cocaine at his home in March 2024.
The court heard that Gardaí received confidential information that Mr Wallace had the drugs at his home and obtained a search warrant to search the property.
During the search, Gardaí recovered 1kg of cocaine with an estimated street value of €60,000, as well as a cocaine mixing agent benzocaine, which were hidden inside a…
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A two-member bench of the appellate tribunal said the NCLT should have taken into consideration the directions issued by the Supreme Court in the Mansi Brar Fernandes case, where it was held that real-estate insolvency should be project-specific.
Moreover, the NCLAT also noticed an intervention application filed by different sets of homebuyers of other projects of Mahagun, where they prayed to set aside the NCLT order directing insolvency against the realty firm.
Some of them also…
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In three charts, see how NC’s medical debt relief is reaching patients statewide News & Observer
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New Delhi, Nov 7 (PTI) In a major relief to realty firm Mahagun, the National Company Law Appellate Tribunal (NCLAT) has set aside insolvency proceedings against it and directed the NCLT to hear the petition afresh, considering the fresh status report filed before it over the projects.
A two-member bench of the appellate tribunal said the NCLT should have taken into consideration the directions issued by the Supreme Court in the Mansi Brar Fernandes case, where it was held that real-estate insolvency should be project-specific.
Moreover, the NCLAT also noticed an intervention application filed by different sets of homebuyers of other projects of Mahagun, where they prayed to set aside the NCLT order directing insolvency…
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NCLAT overturns insolvency proceedings against Mahagun, directs NCLT to reconsider petition. Relief for the realty firm.
A two-member bench of the appellate tribunal said the NCLT should have taken into consideration the directions issued by the Supreme Court in the Mansi Brar Fernandes case, where it was held that real-estate insolvency should be project-specific.
Moreover, the NCLAT also noticed an intervention application filed by different sets of…
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Insolvency appointments October 25 to November 7 2025 businessnews.com.au
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NCLAT set aside insolvency proceedings against Mahagun, asks NCLT to hear again Press Trust of India