Another start up NSW builder SMLXL has been placed into liquidation, leaving several major projects in a state of flux including Mona Vale Golf Course, who after recently gutting their current club house were suddenly advised that their builder SMLXL projects had suddenly and without warning been placed into liquidation. Lisa Mort who was appointed…
BusinessWire India Mumbai (Maharashtra)/ New Delhi [India], July 7: Cyril Amarchand Mangaldas advised and represented JSW Steel Coated Products Limited (JSW Steel Coated Products) in connection with the submission and implementation of a resolution plan for National Steel & Agro Industries Limited (“Target Company” or “Corporate Debtor”), a company undergoing corporate insolvency resolution process under…
Understandably the focus of corporate transactions, restructures and insolvencies tends to be big ticket issues such as finance, tax and assets. Immigration considerations are often overlooked, potentially resulting in hidden risks and headaches for those involved. In this article, we look at the implications of such scenarios in two key compliance areas: sponsor licences and…
Cash-strapped budget carrier Go First is all set to challenge the Delhi High Court’s ruling permitting its lessors to inspect the aircraft as there are inconsistencies with the order passed by the National Company Law Tribunal in the case, reported PTI citing the grounded airline’s resolution professional. Go First stopped flying on 3 May and…
The The National Company Law Appellate Tribunal (NCLAT) on Thursday stayed a bankruptcy court order to admit an insolvency resolution plea against listed real estate developer DB Realty. An NCLAT division bench of Justice Ashok Bhushan and a technical member Barun Mitra has posted the matter for further hearing on September 6. DB Realty had…
Seven lessors have secured access to their aircraft after the High Court of Delhi ordered Go Air India Ltd, trading as Go First (G8, Mumbai International), to grant the lessors immediate and ongoing access to their aircraft for maintenance and inspection purposes. It is a partial victory for the lessors, who had been seeking to…
Reading Time: 2 minutes Happy Valley Nutrition has gone into voluntary administration, appointing Andrew Grenfell and Kare Johnstone of restructuring and advisory firm McGrathNicol. The announcement, made on the Australian Stock Exchange, takes effect on July 5. The statement said that the administrators are undertaking an urgent review of HVN. HVN chair Kevin Bush said…
Mumbai: Punjab State Power Corporation (PSPCL) has offered 1,080 crore to lenders to acquire GVK Power (Goindwal Sahib) that is undergoing corporate insolvency resolution, said people aware of the development. The offer from the state power distribution company equates to a 16% recovery of the claims filed by lenders with the resolution professional (RP). Ravi…
A majority of Future Enterprises (FEL) lenders voted to appoint Avil Menezes as the resolution professional (RP) for the bankrupt company, said people aware of the development.The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by…
A majority of Future Enterprises (FEL) lenders voted to appoint Avil Menezes as the resolution professional (RP) for the bankrupt company, said people aware of the development. The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition…