Category Archives: Liquidation

NCLT Mumbai: Petition Under Section 9 Cannot Be Filed Only For Recovery Of Interest Component – Live Law – Indian Legal News

The National Company Law Tribunal (NCLT), Mumbai Bench comprising of Mr. Kishore Vemulapalli (Judicial Member) and Mr. Prabhat Kumar (Technical Member), dismissed a petition filed in TCL Cables Pvt. Ltd. vs. Shapoorji Pallonji & Company Pvt. Ltd. by TCL Cables Pvt. Ltd. (Operational Creditor) for initiation of Corporate Insolvency Resolution Process (CIRP) against Shapoorji Pallonji…

NZ company heads for liquidation as up to US$100m is missing – The National Business Review

The High Court is considering strange case of Mars Cap Ltd and Australian company Probis. The matter was listed for mention again in the High Court later this month. Two companies on either side of the Tasman are facing liquidation and administrators are chasing up to US$100 million in missing funds, some of which seems…

Ipswich expert fears more company collapses as costs bite – Ipswich Star

Company bosses have been hit by a host of problems – from soaring costs and higher borrowing rates to cash-strapped customers. Alistair Bacon, chairman of regional insolvency trade body R3 Eastern and founder of AMB Law in Ipswich, said the challenges were taking their toll as the number of insolvent businesses in England Wales hits a…

WA businesses on notice as tax office crackdown hits the courts – WAtoday

But when presented with the deed of company arrangement, Mader said the ATO opposed it in favour of placing the company in liquidation, which would have involved selling off its assets and dissolving the business as a means of recouping the debt. We just couldnt understand why we still had about 60 employees who stuck…

Latest News | NCLT Orders Liquidation of Overnite Express – LatestLY

New Delhi, Sep 18 (PTI) The NCLT on Monday ordered the liquidation of Overnite Express after admitting the plea of its lender Deutsche Bank AG against a resolution plan submitted by a member of the debt-ridden company’s suspended board. While the Insolvency and Bankruptcy Code (IBC) bars promoters of a corporate debtor from submitting a…

NCLT Orders Liquidation Of Overnite Express – BQ Prime

The NCLT on Monday ordered the liquidation of Overnite Express after admitting the plea of its lender Deutsche Bank AG against a resolution plan submitted by a member of the debt-ridden company’s suspended board. While the Insolvency and Bankruptcy Code (IBC) bars promoters of a corporate debtor from submitting a resolution plan under the CIRP,…

Reed Smith U.S. financial and corporate work praised in IFLR … – Reed Smith LLP

In addition to the individual rankings, the firm as a whole received 18 rankings six of which were nationwide, with the remaining dozen spread across seven U.S. states. Tier 1 rankings in New Jersey, Pennsylvania Reed Smiths strongest suits overall were M&A and Restructuring and insolvency, followed by Banking. The firm received Tier 1 rankings…

NCLT orders liquidation of Overnite Express with immediate effect – Business Standard

The NCLT on Monday ordered the liquidation of Overnite Express after admitting the plea of its lender Deutsche Bank AG against a resolution plan submitted by a member of the debt-ridden company’s suspended board. While the Insolvency and Bankruptcy Code (IBC) bars promoters of a corporate debtor from submitting a resolution plan under the CIRP,…

NCLT orders liquidation of Overnite Express – Devdiscourse

The NCLT on Monday ordered the liquidation of Overnite Express after admitting the plea of its lender Deutsche Bank AG against a resolution plan submitted by a member of the debt-ridden company’s suspended board. While the Insolvency and Bankruptcy Code (IBC) bars promoters of a corporate debtor from submitting a resolution plan under the CIRP,…

Customers left with half-built granny flats, huge debts as builder collapses – Nine Shows

Rescon Builders builds granny flats – or at least it used to, before the company went into voluntary administration. That’s when A Current Affair heard from angry customers. “I keep sending emails to them, no responses, so I sent them an email asking them if they were in liquidation and still no response,” Peter Reeve…