The government on Wednesday proposed a slew of changes to the insolvency law, including fast-tracking the process and expanding the scope of pre-packaged framework. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets. The Code has already undergone various amendments. “To strengthen…
The new year is bringing challenges for many businesses. The BBC announced last week that the restaurant chain Byron Burger has said it will close nine restaurants and cut 218 jobs in another restructure of its business.According to the BBCs analysis of corporate insolvency notices, in December 2022 it found that 320 businesses in the…
Gilbert + Tobin advised Roofoods Ltd in relation to the voluntary administration of its Australian subsidiary, Deliveroo Australia Pty Ltd.Andrew Knight, Craig Shepard and Michael Korda This content is for members only.Login to Read More Join Now PrintFriendly Read the full article at: https://globallegalchronicle.com/deliveroo-australias-voluntary-administration/
Gayatri Projects was admitted for CIRP proceedings after State Bank of India filed an application under Section 7 of the IBC claiming that the firm defaulted on Rs 242.33 crore loans. CR Sukumar January 17, 2023 / 08:06 PM IST Representative image. The lenders have invited expressions of interest (EoI) from the prospective resolution applicants…
Receive free UK business & economy updates Well send you a myFT Daily Digest email rounding up the latest UK business & economy news every morning. Corporate insolvencies rose sharply in England and Wales in December, as business costs soared, pandemic-related government support came to an end and the economic recovery lost momentum. Data from…
NCLT Delhi Admits Unibera Developers Into Insolvency Begin typing your search above and press return to search. We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and Cookie Settings.Ok Read the full article…
Cheandre Llewellyn / 13 January 2023 Encompass Community Services – which is going into voluntary administration has released a statement on Friday afternoon. The Geelong-based disability services organisation was previously tipped to move into administration by the end of this week with concerns about hundreds of job losses. It’s understood genU had been in discussions…
In the newly released 2023 edition of The Legal 500 Asia Pacific, Squire Patton Boggs has been recommended in 19 practice areas. There were 47 lawyers achieving recognition for their expertise, two of whom were named in the elite Hall of Fame list, and a further five noted as Leading Individuals. In the 2023 guide,…
The owner of the Byron Burger chain has said it will close nine restaurants and cut 218 jobs in another restructure of the business. Famously Proper Ltd, which also controls the Mother Clucker fried chicken brand, blamed rising costs and lower consumer spending for the move. It is the third time since 2018 that the…
Insolvency and Bankruptcy Board of India (IBBI) data shows that, as of September 2022, creditors had realised INR2.43 trillion (USD 29.97 billion) of the INR7.19 trillion claimed through the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (code). Creditors have, therefore, taken an average haircut of 69 per cent. Clearly, the…