Increased Threshold: Magical Figure For Allottees Under The Insolvency And Bankruptcy Code, 2016 – Live Law – Indian Legal News

Liquidation

The status of homebuyers as a class of financial creditors and their right to initiate the Corporate Insolvency Resolution Process (CIRP) against the builder/developer under the Insolvency and Bankruptcy Code (IBC or Code) had traversed a very long journey which witnessed various legislative amendments and Supreme Court’s decision (Chitra Sharma versus Union of India &…

Silver Heritage administrators hand control of company to new board of directors – IAG – Inside Asian Gaming

Liquidation

Philippines-based HatchAsia Inc has completed its takeover of Australian-listed Southeast Asian casino operator Silver Heritage Group, with six new directors replacing the former board as of last Friday. Former CEO Mike Bolsover, Chairman Matthew Hunter and fellow director Darryl Kaplan are no longer associated with the company, replaced by representatives of the new ownership group,…

Egypt to disburse EGP 225000 to each worker at liquidated Iron and Steel Company – Economy – Business – Ahram Online

Liquidation

Egypts Ministry of Public Business Sector will disburse a minimum of EGP 255,000 in reparations for each of the 2,500 workers at the recently liquidated Egyptian Iron and Steel Company. On 12 January,citing chronic losses,the board of directors of the Egyptian Iron and Steel Company passed on a resolution liquidating the company and dividing it…

Resolution Professional cannot decide legality or illegality of Resolution Applicant’s status as willful defaulter: NCLAT – Bar & Bench – Indian Legal News

Liquidation

Published on :24 Jan, 2021 , 11:14 am Updated on :24 Jan, 2021 , 10:10 am The National Company Law Appellate Tribunal (NCLAT) has held that a Resolution Professional (RP) under the Insolvency & Bankruptcy Code cannot go into the issue of legality or illegality of a resolution applicant’s status as a willful defaulter when…

Snapshot: compulsory liquidation – Newsletters – International Law Office

Liquidation

Introduction Petitioner Insolvency Just and equitable Consequences of presentation of a petition Grand Court’s discretion Introduction A Cayman Islands company may be wound up either voluntarily according to its articles of association or compulsorily by the Grand Court. This article provides an overview of the compulsory process. In certain circumstances, the Grand Court may recognise…

Former Sydney liquidator pleads guilty to fraud, dishonesty – AccountantsDaily

Liquidation

Business A former registered liquidator who allegedly misappropriated close to $240,000 has pleaded guilty to fraud and dishonesty charges. Business Jotham Lian 22 January 2021 1 minute read object(stdClass)#17051 (8) { [“image_intro”]=> string(0) “” [“float_intro”]=> string(0) “” [“image_intro_alt”]=> string(0) “” [“image_intro_caption”]=> string(0) “” [“image_fulltext”]=> string(0) “” [“float_fulltext”]=> string(0) “” [“image_fulltext_alt”]=> string(0) “” [“image_fulltext_caption”]=> string(0) “”…

Public Accounts Committee may quiz HRI after 389,000 loss to liquidated company – Racing Post

Liquidation

Racing in front of the new Curragh, the holding company for which is still trading at a loss Patrick McCann (racingpost.com/photos) Horse Racing Ireland could be called upon by the Public Accounts Committee (PAC) to explain the loss of 389,000 that arose after the company that used to undertake its cash-in-transit services went into liquidation…

Alarm Bells Ringing At First Month-On-Month Rise In Corporate Insolvency Numbers For Almost A Year – Bdaily

Liquidation

Member Article The first month-on-month rise in the number of corporate insolvencies for almost a year should spur North East business owners with concerns about their own firms financial situations to seek advice now. Thats the view of Alexandra Withers, North East chair of insolvency and restructuring trade body R3, after the publication by the…

Crypto Company Cred Approved to Seek Votes on Liquidation Plan – Bloomberg Law

Liquidation

Cred Inc., a cryptocurrency services company, won bankruptcy court permission to solicit votes on its Chapter 11 liquidation plan that would create a trust to pay back unsecured creditors. Unsecured creditors hold $162.8 million in claims, according to court filings. But the combined plan and disclosure statement, approved Thursday solely for vote solicitation purposes, doesnt…