Lacking solutions, LeddarTech announces it will file for bankruptcy Montreal Gazette
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The fall of Hudson’s Bay and Saks Fifth Avenue Canada may give the impression that one of the hottest trends this year is the distressed look, but retail and insolvency experts say the company’s demise is part of a now-annual pitter-patter they expec
The fall of Hudson’s Bay and Saks Fifth Avenue Canada may give the impression that one of the hottest trends this year is the distressed look, but retail and insolvency experts say the company’s demise is part of a now-annual pitter-patter they expect to continue.
Since the COVID-19 pandemic, they’ve seen hundreds of retail businesses reach the brink every year. As a result, some restructured, others reduced their store count — and many closed for good.
What they’ve observed…
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Retailers are in trouble and there’s more to come: insolvency, restructuring experts MSN
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Lars Windhorst’s Tennor Holding declared bankrupt Financial Times
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The National Company Law Appellate Tribunal, Principal Bench, New Delhi, comprising Justice Rakesh Kumar Jain (Member-Judicial) and Naresh Salecha (Member-Technical), has allowed an appeal filed by the operational creditor. The issue before the tribunal was whether the threshold has to be seen at the time of filing of the application or at the time of admission of the application.
Background of the Case
The appellant used to sell iron ore to the respondent, but the respondent failed to make the payment; hence, the appellant served the demand notice under Section 8 of the IBC for a default of Rs. 1,16,25,583. After that, the appellant filed the application under Section 9 of the IBC, seeking initiation of the CIRP against…
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China-Africa Ties: China reaffirms support for Africa’s debt relief, blames U.S. policies for crisis news.cgtn.com
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The fall of Hudson’s Bay and Saks Fifth Avenue Canada may give the impression that one of the hottest trends this year is the distressed look, but retail and insolvency experts say the company’s demise is part of a now-annual pitter-patter they expect to continue.
Since the COVID-19 pandemic, they’ve seen hundreds of retail businesses reach the brink every year. As a result, some restructured, others reduced their store count — and many closed for good.
What they’ve observed mirrors federal government data showing insolvencies and bankruptcies in the retail sector have been rising over the past four years after a roughly 25-year decline.
The latest data comes from April, when Canada recorded 56 insolvencies and 46 bankruptcies….
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While revenue grew 16 % YoY from ₹1,668.9 crore in Q4 FY24, it fell 11 % sequentially from ₹2,172.3 crore in the previous quarter. The company attributed the weaker March‑quarter performance to a temporary decline in offline sales. Gross merchandise value (GMV) from offline channels increased slightly to ₹466.9 crore in Q4 FY25, up from ₹443 crore a year earlier, reflecting cautious consumer sentiment in physical retail.
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The global financial crisis has pushed many businesses into a state of instability. When companies are struggling with difficult choices, Deloitte Legal can assist with suggesting options to help recovery, such as restructuring outside of insolvency proceedings, a structured sale or provide assistance with judicial insolvency proceedings. We work with companies in distress as well as potential buyers, shareholders and directors, creditors and insolvency administrators.
Deloitte Legal insolvency practices bring years of experience in working with third parties such as bankers, lawyers, insolvency courts, credit insurers and public authorities. Deloitte Legal works together with colleagues who have specialised skills in…
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The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that when a debenture deed mandates prior approval of the Debenture Trustee for any transfer of rights or liabilities, any such transfer made through an Acquisition Agreement without obtaining the required approval is in contravention of the principal deed and, therefore, unenforceable. Consequently, the Corporate Debtor cannot claim that its liabilities towards the debenture holders stood discharged merely by entering into such an agreement.
Brief Facts:
A Debenture Trust-cum-Mortgage Deed (“DTMD”) dated 15.10.2018 was…
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Navigating Construction Industry Insolvency: Red Flags and Precautionary Measures Lexology
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