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…
Restructuring specialist Begbies Traynor is forecasting annual results to surpass expectations following a significant rise in companies becoming insolvent. Revenues at the AIM-listed group are now set to expand by around 11 per cent to 122million for the year ending April, while adjusted pre-tax profits are predicted to increase by about 16 per cent to…
– Insolvencies top pre-pandemic levels – Firm gaining market share – Revenue and earnings ahead of forecasts Business recovery and financial advisory firm Begbies Traynor (BEG:AIM) revealed its results for the year to the end of April would beat estimates as UK corporate insolvencies exceeded pre-pandemic levels. The firms Red Flag Report for the fourth quarter…
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…
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…
The National Company Law Appellate Tribunal (NCLAT) is set to deliver its verdict on May 22 regarding the petitions filed by three aircraft lessors against Go First’s voluntary insolvency resolution proceedings. Stakeholders eagerly await the decision of the NCLAT, which will have far-reaching implications for Go First and its lessors. The two-member bench, led by…
Go First: An aircraft lessor has moved the Delhi High Court seeking directions to the authorities to release the plane leased to cash-strapped Go First. Earlier this month, the Wadia Group-owned Go First filed for voluntary insolvency resolution and said it can no longer continue to meet financial obligations. Following this move, some aircraft lessors moved…
Mumbai: Preliminary talks on a possible rescue of grounded budget carrier Go First through the insolvency process have been initiated with a few financial investors, including a leading global private equity fund, said people with knowledge of the matter. Those approached as potential bidders include several large global structured credit and special situations funds that…
South Australian builder Felmeri Homes has entered into voluntary administration, leaving many customers with unfinished builds in limbo. The Wayville-based family business has been in the industry for 30 years, but more recently, a number of new homeowners complained their builds were delayed and found to have defects. WATCH VIDEO ABOVE: Customers in limbo as…
On Friday, the National Company Law Tribunal (NCLT) dismissed IDBI Banks petition to seek insolvency against media giant Zee Entertainment, finding that the petition was barred by Section 10A of the Insolvency and Bankruptcy Code (IBC). Section 10A provides that no financial and operational creditors may apply to any debtor to initiate a Corporate Insolvency…