May 31, 2023 Full house: Kyabram Plaza Theatre was full when Banksia Securities investors turned out in force a decade ago to be updated on the failed financial group. Photo by Neil Saunders Eleven years after the collapse of the Banksia Financial Group receivers acting on behalf of investors in the failed Kyabram company are…
New Delhi: The government is considering a proposal to allow unhindered registration of flats in completed projects even when the developer is undergoing insolvency resolution. It may also enable the National Company Law Tribunal (NCLT) to seek inputs from the relevant Real Estate Regulatory Authority (RERA), given the complexities of bankruptcy resolution in the housing…
The board of the CBI has drafted in lawyers to prepare for a prospective insolvency filing ahead of a crunch vote by thousands of its members next week. Sky News has learnt that the crisis-hit business lobby group has hired an unnamed City law firm to provide advice on directors’ duties under company law. City sources said…
Liquidation is a term that many business owners are likely to have come across and, in some unfortunate cases, may even be familiar with. In this article, weve taken a closer look at what liquidation means, the different types of liquidation, and more. The meaning of liquidation Generally, the term liquidation is used to describe…
The term fugitive has been made popular by the media. A bank or financial institution declares someone bankrupt when they are unable to repay the amount borrowed as a loan for a long time. While we all love to stay updated with the latest happenings around the world, it sometimes happens that we are not…
May 30, 2023 2.09pm The founder of streaming business SportsFlick has been bankrupted for failing to pay baby formula manufacturer Care A2 Plus nearly $2 million. Earlier this year Care A2 Plus, which is working towards a possible ASX compliance listing, lodged a creditors petition in the Federal Circuit Court alleging Dylan Azzopardi owed it…
Court adjourns insolvency bid against India’s SpiceJet 29.05.2023 – 06:09 UTC India’s National Company Law Tribunal (NCLT) has again adjourned an insolvency application lodged by Aircastle against SpiceJet. On May 25, the Delhi bench of the NCLT deferred the matter of Aircastle (Ireland) Limited vs SpiceJet Limited to June 1. It was the second adjournment…
May 30, 2023 Full house: Kyabram Plaza Theatre was full when Banksia Securities investors turned out in force a decade ago to be updated on the failed financial group. Photo by Neil Saunders Eleven years after the collapse of the Banksia Financial Group receivers acting on behalf of investors in the failed Kyabram company are…
Business insolvencies remain at worryingly high levels and North East firms may yet feel the fallout of recent economic shocks. Analysis of the latest corporate insolvencies figures by the North East arm of restructuring trade body R3 shows that while there has been a month-on-month drop of almost a third between March and April –…
Real estate comprises a significant portion – more than a fifth – of filed insolvency cases, although approved resolution plans total only 13%, a study by Grant Thornton Bharat showed. Out of 2,298 Corporate Insolvency Resolution Process (CIRP) cases under the Insolvency & Bankruptcy Code, 518 are related to real estate. Surprisingly, only 78 out…