A discussion paper on amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Process) Regulations, issued on 1 November, aims to improve the efficiency of executing resolution plans. The Insolvency and Bankruptcy Board of India (IBBI) has suggested bifurcating resolution plans. Part A should focus on the financial aspects, including…
DetailsIt is an unfortunate fact that many companies will find themselves facing financial or operational challenges at some point in their life cycle. Often times this is due to situations that are out of the control of the companys directors and management team. Things such as a changing marketplace, shifting consumer expectations, the loss of…
DetailsAll employees at a Sydney joinery and manufacturing business heavily involved in corporate and commercial construction have lost their jobs and the firm has ceased to trade. On Friday morning, 30 cabinet makers rocked up to the Wetherill Park factory of GDK Group expecting work as usual. But just 15 minutes earlier news.com.au had revealed…
DetailsCompany Secures Additional $7 Million in New Financing at Exit, Bolstering Financial Resources for Enhanced Market Leadership in The On-Site Power Generation Industry LOS ANGELES, December 07, 2023–(BUSINESS WIRE)–Capstone Green Energy Holdings, Inc. (the “Company”), the public successor to Capstone Green Energy Corporation (Predecessor Capstone), announced the successful completion of the restructuring of the Capstone…
DetailsThe introduction of corporate insolvency under Indias Insolvency and Bankruptcy Code (IBC), 2016, was a watershed moment. It transformed the debtor-creditor relationship in India. Till August 2023, 26,518 applications for the insolvency resolution of companies with defaults on debt worth 9.33 trillion were withdrawn before their admission, according to data from the Insolvency and Bankruptcy…
DetailsSociety / December 7, 2023 The case against the makers of OxyContin is about a lot of thingsabove all the way wealthy people work the system to escape accountability. Ad Policy Headstones bearing information about people who died from using OxyContin line a security fence outside the Supreme Court Building on Monday, December 4, 2023.…
DetailsOur specialists combine industry expertise with advanced data analytics to: Quickly understand why a business is underperforming Identify effective recovery strategies, and Deliver the best outcome. We draw on Deloittes global network of 1,500 restructuring professionals, as well as sector and technical specialists, to help us deliver expert advice. This makes us the worlds largest…
DetailsLiquidators will sell reality TV star Teddy Briggs’s prized Mercedes-Benz as part of their efforts to claw back more than $600,000 owed to creditors ranging from government agencies to disgruntled customers of his controversial online business. The former Love Island and Celebrity Amazing Race contestant placed his business Teddy Briggs Co into liquidation in November.…
DetailsA string of companies involved in the building industry have collapsed into liquidation with cumulative debts of more than $45 million. A news.com.au investigation has found that 11 companies that appear to be linked to a cabinet manufacturing factory in Sydneys Wetherill Park and also with offices in Melbourne and Hong Kong part of the…
DetailsJD Sports Dutch subsidiary Sports Unlimited Retail has been declared bankrupt. Sports Unlimited, which is a subsidiary of Iberian Sports Retail (ISRG) that JD Sports owns, has 52 stores across the Netherlands under the Sprinter, Aktiesport and Perry Spors brands. The control of the stores will now move to a bankruptcy trustee as appointed by…
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