The company behind Karen’s Diner, the restaurant that gained internet infamy for its deliberately bad service, has collapsed. Viral Ventures (Australia) Pty Ltd, which runs both Karen’s Diner and Broadway Diner, went into liquidation on May 30, announcing on June 5 that Chris Johnson and Andrew McCabe from Wexted Advisors have been appointed to wind…
The National Company Law Tribunal (NCLT) has issued a notice to the Insolvency Resolution Professional (IRP) of crisis-hit Go First over a plea filed by supply chain operator Delhivery. The Delhivery had moved the tribunal on Thursday and said the debt-ridden airline intentionally took payments from them despite knowing that it was filing for…
The government would probably change the insolvency law to permit “customised resolutions” of insolvent residential real estate projects to assure prompt delivery of flats to homebuyers in troubled housing projects, according to a media report by the Economic Times (ET). The proposed revisions to the Insolvency and Bankruptcy Code (IBC) would permit resolution depending on…