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…
PRESS RELEASE Published July 3, 2023 The global corporate insolvency services market stands at US$ 12.1 billion in 2022 and is anticipated to progress rapidly at a CAGR of 5.4% to reach a market valuation of US$ 20.5 billion by 2032-end. Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Corporate Insolvency Services market. The…
Zee Entertainment and IndusInd Bank on Monday announced that all the due payments have been settled between the two entities, as per media reports. The National Company Law Appellate Tribunal (NCLAT) has disposed of the appeal. The two companies had informed NCLAT that they have reached a settlement in relation to their payment dispute, paving…
More than 150 workers have lost their jobs and a further 45 employees are at risk after Queensland miner Aurora Metals entered voluntary administration following an unsuccessful public offering and plummeting zinc price. KordaMentha has been appointed to oversee the sale and recapitalisation of the group’s mining and processing assets, which include zinc, copper, lead,…
The Bombay High Court has stayed the suspension of registration of Insolvency Professional (IP) Kairav Anil Trivedi, who is accused of misrepresentation and entering into unauthorised agreement in a Corporate Insolvency Resolution Process (CIRP). A division bench of Justice BP Colabawalla and Justice MM Sathaye observed that prima facie, the order against Trivedi was passed…
Jacob ShteymanAAP More than 150 workers have lost their jobs and a further 45 employees are at risk after Queensland miner Aurora Metals entered voluntary administration following an unsuccessful public offering and plummeting zinc price. Liquidator KordaMentha has been appointed to oversee the sale and recapitalisation of the groups mining and processing assets, which include…