Law360, London (July 29, 2021, 5:28 PM BST) — Victoria’s Secret’s U.K. business move from administration into liquidation in June was valid, a London judge ruled on Thursday, after concerns were raised over a typographical error on the paperwork. Judge Sally Barber signed off an order declaring that the liquidators of Victoria’s Secret UK Ltd.…
Tamworth charity One of a Kind Community Support faces allegations it traded insolvent and that managers misspent thousands of dollars before the organisation went into administration in 2019, according to the report of a voluntary administrator published this week. The 49-year-old charity was forced to sell almost all its assets, including several buildings it owned,…
Jet Airways staff has sought the intervention of Civil Aviation Minister Jyotiraditya Scindia in addressing their issues with respect to the resolution plan of the Jalan Kalrock Consortium TopicsJet Airways|Jyotiraditya Scindia|Aviation ministry A grouping of Jet Airways staff has sought the intervention of Civil Aviation Minister Jyotiraditya Scindia in addressing their issues with respect to…
Written by Karunjit Singh , Edited by Explained Desk | New Delhi | Updated: July 28, 2021 4:28:08 pm The Insolvency and Bankruptcy Code (Amendment Bill), 2021 that was passed in Lok Sabha on Monday replaces the IBC Amendment Ordinance 2021 promulgated in April, which introduced pre-packs as an insolvency resolution mechanism for Micro, Small…
by French Press Agency – AFP Jul 28, 2021 1:18 pm A private equity company that owns the NSO Group, the Israeli firm at the center of the Pegasus spyware scandal, is being liquidated, a source shared. London-based Novalpina Capital, which bought the NSO Group in 2019, is being dissolved after a dispute between its…
The Biden Administration continues to take steps to safeguard U.S. critical infrastructure from growing, persistent, and sophisticated cyber threats. Recent high-profile attacks on critical infrastructure around the world, including the ransomware attacks on the Colonial Pipeline and JBS Foods in the United States, demonstrate that significant cyber vulnerabilities exist across U.S. critical infrastructure, which is…
Five years ago, the Insolvency and Bankruptcy Code (IBC) was passed by the Parliament, bringing about a structural change in the framework that governs the corporate insolvency resolution process in India. The IBC provides for a time-bound resolution of firms, addressing the vexed problem of firm exit in India. It has strengthened the hands of…
THE renowned Lorne Hotel in the west end of Glasgow has been put up for sale as administrators take steps to liquidateits owning company. Thirty staff were made redundant in May when administrators at Interpath Advisory, the former restructuring arm of KPMG, were appointed to Bellhill Limited, reports our sister title The Herald. The hotel,…
Public and private sector banks, non-banking financial institutions, and other financial lenders to companies undergoing corporate insolvency resolution process (CIRP) have taken a cumulative haircut of Rs 3.22 lakh crore or 61.2 per cent of their admitted claims since the Insolvency and Bankruptcy Code (IBC) regime was rolled out five years ago, data analysed by…
New Delhi: The government on Monday introduced a Bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs. The proposed amendments would enable the government to notify the threshold of a default not exceeding Rs 1 crore for initiation of pre-packaged resolution process. The government…