Vertical farming company Infarm has been declared bankrupt in the Netherlands, according to official documents. The news comes after the company closed operations across its key markets in the UK, France, Germany, the Netherlands and Denmark over the last year, completely exiting the European market. At the end of last year, Infarm laid off more…
DetailsA 135-year-old pub that was forced to close its doors permanently has still fallen into liquidation. The Carringbush Hotel, which was based in Melbourne, was shuttered at the start of June with the pub groups owners citing horrendous expenses, adding they would need to charge a whopping $20 for a beer to survive. However, news.com.au…
DetailsThe National Company Law Tribunal (NCLT) has granted an extension of 60 days to the grounded air carrier Go First for completing the insolvencyprocess. This is the fourth extension for Go First to complete the Corporate Insolvency Resolution Process (CIRP), which is struggling to find a buyer.Earlier, the insolvency tribunal had granted an extension of…
DetailsMcGrath said the absence of the districts lawyers has left the community with a significant unmet need for legal services, which could be addressed with the right incentive. The proposed scheme, recommended by the recent Independent Review of the National Legal Assistance Partnership (NLAP), would forgive tertiary education debt for private lawyers who dedicate a…
DetailsWhen confronted with a grim diagnosis or a catastrophic accident, Americans often wonder not only how they will recover their health and well-being but also if their finances can withstand medical debt and its rippling effects. But a proposed rule from the Biden administration could translate to more financial relief for the 15 million Americans…
Details3 min read Last Updated : Jun 12 2024 | 9:26 PM IST Bankrupt airlines Go First got a final 60-day extension from the National Company Law Tribunal (NCLT) on Wednesday to complete its corporate insolvency resolution process (CIRP). This extension will last till August 3. The lenders of the airline include the Bank of…
DetailsWith funds equivalent to just 2.9% ($35.7 billion) of their combined annual military spending, Group of Seven (G7) countries could help end world hunger and solve the debt crisis in the Global South, reveals new Oxfam analysis ahead of the G7 Summit in Borgo Egnazia, Italy. Eradicating world hunger in all its forms would require…
DetailsA sportswear brand set up by a young entrepreneur has gone into liquidation with debts of 900,000. Lucy Locket Loves, which started in Sheffield, sold leggings, shorts and gym clothing from a warehouse in Dronfield. Founder Lucy Arnold said the business had been voluntarily wound up and that staff had lost their jobs. The owners…
DetailsIf you’re a senior with debt issues, there are lots of options to consider, experts say. KATLEHO SEISA/Getty Images Economic conditions are challenging for many these days. Despite recent drops, inflation has remained stubbornly high, and interest rates are even higher, making it hard to access cash and even easier to rack up debt in…
DetailsThe IBBI has proposed changes to the corporate insolvency resolution process (CIRP) forms and compliance framework to reduce compliance burden on insolvency professionals, and sought stakeholders’ comments by July 1. These changes will reduce the amount of information and data that insolvency professionals (IPs) need to submit, thereby enhancing efficiency and reducing redundancy.The Insolvency Bankruptcy…
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