Insolvency Guardian Media Centre
The National Company Law Tribunal (NCLT), Mumbai Bench, has approved a Rs. 185 crore resolution plan submitted by Geetanjali Sugar Private Limited in consortium with M/s G V Alurkar for the revival of debt-ridden Lokshakti Sugar & Allied Industries Ltd. The order paves the way for the takeover of the Solapur-based sugar manufacturer, which had been undergoing Corporate Insolvency Resolution Process (CIRP) since January 2023.
The consortium emerged as the highest bidder in an open bidding process held in October 2023, offering Rs. 185 crore against Lokshakti Sugar’s admitted financial debt of Rs. 209.26 crore. The Committee of Creditors (CoC), comprising secured lenders, unanimously approved the plan with 100% voting …
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Danish womenswear brand Blanche Copenhagen appears to be on the brink of closure. After the company had to file for insolvency in June, the journey has come to an end for Bjørn Krøyer. Krøyer joined as an investor two years ago and then took over the management of the company. The CEO announced the closure on Thursday on the career network LinkedIn.
After joining, the company was restructured in record time. The team was rebuilt and the brand redefined. Shortly after, “the global fashion industry was hit by one of the most severe crises in its history,” said the brand’s chief executive officer. “Despite great efforts, bold decisions and an excellent team, we ultimately could not withstand the market forces.”
Krøyer thanked all…
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Danish womenswear brand Blanche Copenhagen appears to be on the brink of closure. After the company had to file for insolvency in June, the journey has come to an end for Bjørn Krøyer. Krøyer joined as an investor two years ago and then took over the management of the company. The CEO announced the closure on Thursday on the career network LinkedIn.
After joining, the company was restructured in record time. The team was rebuilt and the brand redefined. Shortly after, “the global fashion industry was hit by one of the most severe crises in its history,” said the brand’s chief executive officer. “Despite great efforts, bold decisions and an excellent team, we ultimately could not withstand the market forces.”
Krøyer thanked all…
Read the original article here
Danish womenswear brand Blanche Copenhagen appears to be on the brink of closure. After the company had to file for insolvency in June, the journey has come to an end for Bjørn Krøyer. Krøyer joined as an investor two years ago and then took over the management of the company. The CEO announced the closure on Thursday on the career network LinkedIn.
After joining, the company was restructured in record time. The team was rebuilt and the brand redefined. Shortly after, “the global fashion industry was hit by one of the most severe crises in its history,” said the brand’s chief executive officer. “Despite great efforts, bold decisions and an excellent team, we ultimately could not withstand the market forces.”
Krøyer thanked all…
Read the original article here
Danish womenswear brand Blanche Copenhagen appears to be on the brink of closure. After the company had to file for insolvency in June, the journey has come to an end for Bjørn Krøyer. Krøyer joined as an investor two years ago and then took over the management of the company. The CEO announced the closure on Thursday on the career network LinkedIn.
After joining, the company was restructured in record time. The team was rebuilt and the brand redefined. Shortly after, “the global fashion industry was hit by one of the most severe crises in its history,” said the brand’s chief executive officer. “Despite great efforts, bold decisions and an excellent team, we ultimately could not withstand the market forces.”
Krøyer thanked all…
Read the original article here
Shu reveals struggles with gambling debt and husband Lim’s support during crisis – CHOSUNBIZ Chosun Biz
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Facebook App: Open links in External Browser
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Lewis Hamilton-backed meatless UK restaurant chain falls into liquidation MSN
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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
2….
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Shu (real name Yoo Soo-young) from the group S.E.S. opened a YouTube channel and confessed his gambling controversy and family history.
Shu appeared with her husband and former basketball player Lim Hyo-sung in the first video of the YouTube channel ‘That’s Shu’ released on the 8th.
Shu cheerfully introduced “My not-so-friendly husband”, but the video went to a heavier and heavier atmosphere.
Shu commented on the controversy over his clothes and directing during his career as an Internet broadcaster BJ, “I chose the wrong clothes under the light. It wasn’t a broadcast that received star balloons. There was a down payment, there was something to settle,” he…
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This week’s TGIF considers the recent Supreme Court decision of Re ML & NB Pty Ltd [2025] VSC 444. It concerns the extent to which a plaintiff can rely on a statutory demand issued by a supporting creditor to satisfy the presumption of insolvency.
Key takeaways
- To secure the benefit of a presumption of insolvency in a winding up application, it is crucial to pay strict attention to evidence of effective service of a statutory demand.
- Ineffective service of a statutory demand may not affect the validity of a winding up application, but it can shift the evidentiary basis and require the creditor to prove actual insolvency.
- In certain circumstances, a plaintiff can rely on non-compliance with a statutory demand issued by another…
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