Operational creditors face Shakespearean dilemma in Essar Steel insolvency – Business Standard

The operational creditors of steel companies face a Shakespearean dilemma. Though they wish to speak out against the problems at hand due to delayed payments of dues from companies undergoing the Corporate Insolvency Resolution Process (CIRP), they fear retribution from the committee of creditors (CoC) and the new management which would take over. These…

Mount Shivalik Industries Ltd. – Corporate Insolvency Resolution Process (CIRP)-Updates – Corporate Insolvency Resolution Process (CIRP) – The Hindu BusinessLine

This is to inform you that the 14th Meeting of Committee of Creditors (CoC) was held on 27.03.2019. In the meeting, The Resolution Professional apprised the members of the Committee of Creditors that as only one Resolution Plan has been received and therefore, Som Distilleries Pvt Limited being the sole resolution applicant is H1 bidder…

Ceres Agricultural Company placed in voluntary administration – Queensland Country Life

STAFF at troubled farm business Ceres Agricultural Companyhave been told to expect significant job losses after the company was placed in voluntary administration with advisory groupGrant Thornton. In an internal memo sent to all staff from owner Garrick Hawkins on Thursday, staff were told the current business was unsustainable and Ceres would be closed. It…

Brief Analysis of the Major Amendments to Insolvency and Bankruptcy Code, 2016 (Code) in 2018 – Legal Desire News Network

Introduction: The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as IBC) undergoes to second amendment to ensure enforcement of the provisions of the Code aiming towards the fulfilment of its objective of time-bound resolution process. These amendments will make easier effective implementation and obtain desired results. Following are the significant amendments introduced in the…