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The National Company Law Tribunal (NCLT) has also appointed Brijendra Kumar Mishra as the interim resolution professional of the company.

AGS Transact is a provider of an integrated omnichannel payment solution across diverse sectors in India and in the manufacturing and supply of ATMs.

The company’s vendor, Securitrans India, approached the tribunal in December last after the company failed to pay its dues of about ₹2.37 crore. As per the stock exchange filing, the company had reported revenue of…

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SSENSE is filing for bankruptcy protection, according to a letter written by CEO Rami Attallah to employees on Thursday, per Business of Fashion.

In the email, the Montreal-based company’s chief executive stated that SSENSE’s lenders aim to sell the company under the Companies’ Creditors Arrangement Act (a Canadian federal statute that allows large companies to restructure their finances to avoid bankruptcy). However, SSENSE intends to bar the sale by filing a CCAA application “to protect the company,…

Designer fashion retailer Ssense faces a liquidity crisis and plans to imminently file an application in bankruptcy court to protect its assets from indebted lenders, The Logic has learned.

In an email sent to all staff this morning, the Montreal-based firm said its hand was forced by its main creditor, which it says filed its own application to sell the company, without Ssense’s consent, under the Companies’ Creditors Arrangement Act (CCAA). 

“We do not believe this is the right path for Ssense,” reads the email viewed by The Logic. Ssense didn’t immediately respond to a request for comment.

It’s been 62 years since Martin Luther King Jr. delivered his “I Have a Dream” speech calling for justice and equality for all.

To mark the historic moment, the WNBA team named after the speech – the Atlanta Dream – is launching a program to carry on the legacy of Dr. King’s work.

The team is working with partners to eliminate $10 million in debt for families in Atlanta. The 3,500 recipients will have debts ranging from $500 to $80,000 erased. 

“One of the things that we think is incredibly important is we believe that sport is a catalyst for social change and so we really lean into the community that serves us,” Morgan Shaw Parker, the Atlanta Dream’s president and chief operating officer, exclusively told “CBS Mornings.”

Shaw…

Chief Executive Pål Lothe Magnussen commented on the process, stating, “AMSC has been a successful dividend distributor over the past years returning more than NOK67 per share in cash distributions in addition to the Solstad Maritime shares.” He added, “We are making progress towards a liquidation of AMSC and delisting from Oslo Stock Exchange, expected to be completed in Q4 2025.”

The company confirmed that the activities in the first half were focused on preparing for the liquidation, and that the remaining cash in AMSC will be distributed to shareholders in connection with the final liquidation process.

Home-Goods stores are one of the many American companies that are facing consequences due to high tariffs. Retailers felt forced to increase the prices of their products due to the continuous increase in tariff rates. Unfortunately, some companies are experiencing it much worse than others. Hence, this retailer could no longer keep up and was fighting to survive. It resulted in the company filing for Chapter 11 bankruptcy.

Impact of high tariff rates

Since the high tariff rates are specifically impacting imported goods, it means that home-goods stores relying on imported goods are suffering severely. Approximately 90% of At Home’s goods are sourced from overseas; thus, the retailer is under a lot of pressure. The company…

1. Introduction

The Supreme Court’s ruling in Kalyani Transco v. M/s Bhushan
Power & Steel Ltd. & Ors. addresses whether procedural
irregularities that occur during the Corporate Insolvency
Resolution Process (“CIRP”) are
sufficient to undo an approved resolution plan under the Insolvency
and Bankruptcy Code, 2016 (“Code”). CIRP
leads to two possible outcomes; either the revival of a company
through resolution or liquidation. Traditionally, courts have
upheld the finality of a resolution plan once the Committee of
Creditors (“CoC”) and the adjudicating
authority approve it. However, this judgment signals a shift,
suggesting that if CIRP suffers from illegality or non-compliance,
judicial intervention may be warranted even…

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