Start-ups that are most in need of government safe harbour laws to protect directors of struggling companies from bankruptcy liabilities, are failing to take up the option, locked out thanks to high advisory costs and tax debts. The laws, which were introduced almost a year ago, are designed to protect directors of a company from…
Do you know the address of your companys registered office? You should know it might not be the same as your principal place of business. Understanding the difference between the two could save immense stress, legal costs and your company. The address of a companys registered office is the place where documents can be effectively served.…
A small Melbourne-based Internet services provider Telecube has gone into liquidation with effect from 29 August and has asked its NBN clients to obtain a connection elsewhere. In an email sent to users, Telecube said: “The purpose of this letter is to inform you that Telecube will no longer be offering NBN services from 4th September…
PUNE: Those who invested their hard-earned money in Lavasa are a worried lot, with the promoter of the scenic hill station facing insolvency proceedings. In a filing with the Bombay Stock Exchange, real estate firm HCC said the National Company Law Tribunal has admitted a plea filed by creditors, who initiated the corporate insolvency resolution…
MONTREAL, Aug. 31, 2018 /PRNewswire/ – BioAmber Inc. (the “Company”) (OTCPK: BIOAQ) announces that following a Court order issued on August 28th, 2018, the stay period ordered by the Court in connection with its restructuring process under the terms of the Companies’ Creditors Arrangement Act has been extended until September 18th, 2018, in order to give…
The liquidation of a company and sale of stressed assets on a piecemeal manner may not be the best way as valuations could further dip and may be detrimental to the interest of various stakeholders as also lenders. The Insolvency and Bankruptcy Code, seeking to facilitate resolution plans guided by the National Company Law Tribunals,…
The IBC has almost completed two years of enactment, and has seen multiple amendments through ordinances. The enactment of the Insolvency and Bankruptcy Code (IBC) has created a paradigm shift in the regulatory framework and processes governing corporate insolvency. The IBC has almost completed two years of enactment, and has seen multiple amendments through ordinances.With…
We would like to inform you that with a shorter notice vide the Notice dated 26 August 2018 issued by CA Vishal Ghisulal Jain, Interim Resolution Professional, the 1st meeting of the Committee of Creditors of Sterling International Enterprises Limited was held at The Orchid, 70/C, Nehru Road, Adjacent to Domestic Airport, Vile Parle (E),…
JOSEPH JOHNSON/STUFF Students from Avonmore Tertiary Institute are considering their next moves after the college announced its voluntary liquidation on Thursday. A Christchurch training college has gone into voluntary liquidation, leaving about 140 students and 25 staff in tears and unsure of their futures. Avonmore Tertiary Institute told staff, students, and government agencies on Thursday that it “can no longer…
The Hyderabad Bench of the National Company Law Tribunal has permitted corporate insolvency proceedings against Ind-Bharat Energy (Utkal Limited), as per the provisions of the Insolvency and Bankruptcy Code, 2016 paving the way for resolution. The Tribunal, while delivering its order on petitions filed by Bank of Baroda and Macquarie arm MAIF Investment India pte…