Thursday, July 1, 2021 Introduction The government needs to amend the IBC regulation and recognize the difference between various classes of creditors basis priority and value of security interest in the context of corporate insolvency resolution process and corporate liquidation process while ensuring that the ultimate objective of the Code is not obfuscated. The treatment…
Supplied Fly My Sky flew to Great Barrier Island and back seven days a week. The operator of Auckland airline Fly My Sky has gone into liquidation. The registered company behind the third tier airline Commercial Helicopters had Clive Bish of Ecovis KGA appointed as a liquidator on Wednesday. Fly My Skys website has been…
A lifeline for struggling businesses in the United Kingdom the most significant insolvency reforms for a generationCorporate Insolvency and Governance Act 2020The Corporate Insolvency and Governance Act 2020 (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least,…
The Mumbai chapter of the National Company Law Tribunal (NCLT) ordered the liquidation of Nakshatra World, a subsidiary of , one of the group companies promoted by fugitive businessman Mehul Choksi. The ruling came on an insolvency petition ICICI Bank filed around two years ago against the company, which was also allegedly involved in a…
Ausbil Investment Management MicroCap and SmallCap Strategies co-portfolio manager Mason Willoughby-Thomas has tendered his resignation to the $12 billion fund manager. Willoughby-Thomas has been with the fund for almost four years, having joined from Australian Ethical Investment in October 2017. It is understood he is now joining SG Hiscock. Ausbil MicroCap and SmallCap Strategies co-portfolio…
A senior official said the details came into the public domain “inadvertently” as the regulator is working on a beta project to host the information of creditors TopicsIBBI|Aadhar card|Pan card The Insolvency and Bankruptcy Board of India (IBBI) “inadvertently” put out on its website Aadhaar and PAN details of creditors, including workmen, of some companies…
A seven-member monitoring committee will soon begin to manage the day-to-day affairs of Jet Airways till the resolution process for the airline is completed, the airline said in a regulatory filing. The development follows bankruptcy court’s approval for the resolution bid jointly submitted by Murari Lal Jalan and Kalrock Capital for Jet Airways, the airline…
Kelham Hall Ltd, the company that owns the historic hall and grounds, has gone into liquidation, it has been reported. It throws into disarray many weddings and events that were scheduled to be held there, including the Welcome to the Asylum steampunk event in August It is understood suppliers and those with events booked at…
Khaitan & Co acted as legal counsel to the Resolution Professional (RP) of Sharan Hospitality Private Limited (SHPL) in the Corporate Insolvency Resolution Process (CIRP) of SHPL. Mr. Mahender Kumar Khandelwal was appointed as the Resolution Professional (RP) of Sharan Hospitality Private Limited (SHPL) by the order of Honble NCLT, Mumbai Bench. The Khaitan &…
Member Article CORPORATE insolvencies are on the rise as the country emerges from the Covid-19 pandemic. The latest official figures show that corporate insolvencies increased by 8.8 per cent to 1,011 in May, a rise of 6.9 per cent as compared to the same period last year. And Sheffield expert Deborah Lockwood, of business turnaround…