Insolvency Guardian Media Centre
The National Company Law Appellate Tribunal (NCLAT) has upheld the National Company Law Tribunal’s (NCLT) decision dismissing an insolvency application filed under Section 9 of the Insolvencyand Bankruptcy Code, 2016 (IBC) by Morex Corporation Limited against Jindal Poly Films Ltd. The appellate tribunal found the existence of a genuine pre-existing dispute between the parties regarding an aborted export transaction during the COVID-19 lockdown period.
The appellant, Morex Corporation Ltd., had filed the application seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Jindal Poly Films, alleging non-refund of advance payment totaling ₹3 crores for a consignment of non-woven fabric. The …
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About judgment debt
If you owe money to someone (called a creditor), they can apply to the Magistrates’ Court for an order that the debt must be paid, for debts of up to $100,000. If a judgment has been made against you by a magistrate ordering that you pay a creditor an amount of money (called a judgment debt), interest will accrue at the penalty interest rate on top of the original debt. As of June 2023, the interest rate is 10 per cent per annum, but this is subject to change.
If a judgment has been entered against you and the debt remains unpaid, the creditor has the right to enforce payment of the debt. A judgment will only be enforced at the request of the creditor. Common forms of enforcement include:
- summons for oral…
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Popular mattress retailer files Chapter 7 bankruptcy liquidation TheStreet
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‘I need assets returned to me’
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Debt collection and the law
Debt collectors must obey the law when recovering debts. This means they must not:
- use physical force or intimidation towards you, any member of your family or anyone associated with you
- harass you
- mislead or deceive you, or try to do so – for example, sending letters that look like court documents
- take unfair advantage of any vulnerability, disability or other similar circumstance affecting you. This is called ‘unconscionable behaviour’.
Harassment
You do not have to accept harassment from creditors or debt collectors. Get help immediately.
The worst tactics include:
- phone calls, day and night, at work and home
- calls to your employer, revealing details you might consider private
- calls…
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A Slice of HECS – 20 percent cut to HECS-HELP passes Parliament Woroni
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Small business owner says her company went bankrupt because of Tesla’s unpaid bills Live 5 News
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Feldmuehle announces that the company “has implemented all necessary steps to maintain business operations during the preliminary proceedings”.
On 01.08.2025, the insolvency proceedings under self-administration will commence as
planned. As in the preliminary self-administration proceedings, the management will continue to be responsible for all operational processes, including financial management, under the supervision of the court-appointed administrator Andreas Romey.
“In recent weeks, management has reached reliable agreements with our stakeholders, including energy suppliers, insurance companies, suppliers of raw and auxiliary materials, and service providers. Just-in-time delivery is running smoothly, enabling us to…
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Redazione RHC : 4 August 2025 08:57
We discussed this in an article on the topic some time ago written by Massimiliano Brolli. Today, cybersecurity is no longer an option or an ancillary value: it is a true business enabler. We live in a context in which a ransomware attack can completely paralyze a company, compromise its reputation, and, in the most serious cases, lead to bankruptcy. Today we’ll talk about another story, another company that didn’t make it and went bankrupt after fighting a devastating cyber attack to the last.
The large German company Einhaus Group, specializing in insurance and mobile phone services, has announced the initiation of bankruptcy proceedings.
The cause of the collapse was a cyber attack that occurred…
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Control over the Ally Fashion business has been returned to the company’s director, David Dai, following a lengthy appeal process that ended with creditors accepting a deed of company arrangement (DOCA).
Four months ago, the Federal Court of Australia forced Ally Fashion into liquidation following an application by a landlord for rent arrears. The court appointed Jeff Marsden and Duncan Clubb of BDO Australia on February 28, 2025.
During the liquidation process, around 50 Ally Fashion stores were closed down, with liquidators then entering a license agreement to allow the remaining stores to continue trading.
On May 15, the liquidation was stayed by the Supreme Court of NSW and Ally Fashion was placed into administration, allowing…