New Delhi: The National Company Law Tribunal (NCLT) on Thursday granted Go First airline a 90-day extension for its Corporate Insolvency Resolution Process (CIRP), now effective from 6 November to 4 February, as the bankrupt carrier seeks to revive its operations. The tribunal has asked the resolution professional (RP) overseeing Go First’s insolvency to submit…
The National Company Law Tribunal has extended the Corporate Insolvency Resolution Process (CIRP) of the cash-strapped airline Go First by 90 days till February 4, 2024. The Committee of Creditors (CoC) said the six-month moratorium period ended on November 6. On October 17, it passed a resolution to extend the resolution process by 90 days.…
A used car dealer who defrauded people to the tune of 82,250 has been put behind bars. Jonathan Nolan was declared bankrupt in 2010 but carried out his crimes in 2017 and 2018 while a suspended sentence was in place after he failed to reveal a bank account following the bankruptcy, the Southern Daily Echo…
The National Company Law Tribunal (NCLT), Ahmedabad Bench, comprising of Shri Shammi Khan (Judicial Member) and Shri Sameer Kakar (Technical Member), has directed the Promoters/Suspended Management of Sysco Industries Ltd. (Corporate Debtor) to deposit Rs. 7.78 Crores with the Corporate Debtor on the basis of a forensic audit report. The Resolution Plan for the Corporate…
REFORM The decision by the Turnbull Government to embark upon the most significant reform to Australias insolvency laws for over 20 years has been embraced by many. One of the key features of the governments Improving bankruptcy and insolvency laws proposals paper is the introduction of a so-called insolvent trading safe harbour. Under the current…
AUSTIN, Texas Nearly one in three Americans are burdened by medical debt, according to data from the Kaiser Family Foundation. That means an estimated 100 million people nationwide carry a combined debt of about $2 Billion. Its a pervasive problem that affects peoples financial health, as well as their mental and emotional health. However, the…