National Company Law Appellate Tribunal (NCLAT) on Monday upheld crisis-hit Go First airlines insolvency ordered by National Company Law Tribunal (NCLT) and directed for certain modifications to tribunal’s order. NCLAT refused to allow lessors to take back possession of aircraft and asked them to move NCLT for any remedy in Go First insolvency proceedings matter. The lessors…
A month-on-month fall in the number of corporate insolvencies in England and Wales is not an accurate reflection of the current tough trading conditions, with rising interest rates likely to be another blow for struggling businesses later this year. This is according to the Midlands branch of the UKs insolvency and restructuring trade body R3…
KUALA LUMPUR: The second reading of the amendments to the Insolvency Act 1967 is expected to be tabled this week in Parliament, says Datuk Seri Azalina Othman Said. The Minister in the Prime Minister’s Department (Law and Institutional Reforms) said this follows its first reading at the Dewan Rakyat on Monday (May 22). The amendments…
By Christian Moess Laursen Blackbird said Monday that it has restructured its business and will save around 500,000 pounds ($622,300) annually as a result. The U.K. developer of a cloud-video platform said the restructuring has led to a number of employees leaving the company. Blackbird will focus on growth opportunities in North America, Latin America…
United Arab Emirates May 22, 2023 Leading global professional services firm Alvarez & Marsal (A&M) today released the first edition of its Middle East Turnaround and Restructuring Survey for Q1 2023. The survey asked respondents to indicate whether they anticipate an increase or decrease in businesses experiencing financial distress across the GCC, together with their…
The UAE has long been known for its business-friendly policies and tax-free environment. Following the introduction of VAT back in 2018 and corporate tax being rolled out starting in June 2023, UAE businesses and investors are getting used to the new reality tax is here and its here to stay. While some industries have had…
Go First insolvency: NCLAT will pass verdict on aircraft lessors’ petitions today | Twitter The National Company Law Appellate Tribunal (NCLAT) is set to announce its decision on Monday regarding petitions filed by three aircraft lessors against Go First’s voluntary insolvency resolution proceedings. This verdict will have significant implications for both Go First and its…