Insolvency Guardian Media Centre
The case subsequently went to the NCLT with the tribunal issuing an order initiating a corporate insolvency resolution process (CIRP) and appointed an insolvency resolution professional (IRP).In a further setback for Yogendra Vasupal, the founder of the shut online home-stay start-up Stayzilla, a Supreme Court division bench has dismissed an appeal by him challenging the insolvency proceedings ordered by the Chennai bench of National Company Law Tribunal (NCLT). Vasupal, once a poster boy of the start-up community, moved the apex court after the National Company Law Appellate Tribunal (NCLAT) dismissed Stayzillas appeal against the insolvency order. Stayzilla was caught in a web of legal tangle after Chennai-based Jigsaw S…
Read the full article at: http://www.financialexpress.com/industry/setback-for-stayzillas-yogendra-vasupal-as-sc-dismisses-appeal-against-insolvency/1108322/
A Dutch court classifies Bitcoin as a transferable value after the court ruled in favour of a plaintiff who was owed 0.591 Bitcoins (BTC), according to a court document published March 20.
The claim was filed in a Dutch court by Mr. J.W. de Vries on 2 February 2018 against Koinz Trading BV, a non-public company, which was previously ordered by a lower court of Midden-Nederland to pay mining proceeds in the amount of 0.591 BTC owed to the petitioner, or a penalty payment up to a 10,000 maximum.
As a consequence of the companys failure to comply with its obligations to pay the required volume in BTC, the court ordered that the company either pay up or be declared insolvent.
The court judgement explicitly states that Bitcoin demonstrates al…
Read the full article at: https://cointelegraph.com/news/dutch-court-finds-bitcoin-a-legitimate-transferable-value
Just one week after announcing it would bankroll The Pickers, Club Maitland City has announced its financial backing for the citys ailing leagues club.
The clubs administrators Shaw Gidley told Fairfax Media the bowling club has entered into a temporary funding agreement with the leagues club so it can continue to trade.
The news came 24-hours after a meeting of leagues club creditors was held.
Fairfax Media reported last week how Maitland Leagues Club had gone into voluntary administration owing some of its creditors hundreds of thousands of dollars. Following The Pickers sponsorship announcement there had been mounting speculation that Club Maitland City may extend an amalgamation offer to the leagues club.
In a statement to Fairfax Media …
Read the full article at: http://www.maitlandmercury.com.au/story/5300565/club-maitland-city-rolls-up-for-leagues-club/
Charles Lazarus, the founder of Toys R Us, has died at the age of 94. The announcement came on the same day that iconic chain began liquidating assets.
USA TODAY