Alternative investment manager Ares SSG Capital Management has filed an application with the Bengaluru bankruptcy tribunal to admit Coffee Day Enterprises for corporate insolvency over its 228-crore bond default, people aware of the development told ET. The global fund filed the application through IDBI Trusteeship. Coffee Day Enterprises (CDEL) informed the exchange about the insolvency…
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DetailsShares of Goodyear Tire & Rubber Co. GT, +0.08% rose 1.5% in the extended session Friday after the tire company said it has embarked on a rationalization plan and workforce reorganization in Europe, Middle East and Africa aimed at improving its cost structure. This restructuring is a part of a broader set of actions the company…
DetailsSeptember 8, 2023 Practices: Business Restructuring The M&A Advisor recognized Ropes & Grays business restructuring practice in its 14th annual International M&A Awards. Ropes & Gray is honored for restructuring deal of the year advising Vewd Software AS through a prepackaged Chapter 11 cases. The business restructuring practice is also recognized in the healthcare/life sciences…
DetailsBy Alice Cullinane & Keri Trigg BBC News, West Midlands The leader of Shropshire Council said the authority considered issuing a notice to declare bankruptcy, but decided against it. Inflation and increased demand for services meant the council’s reserves were “practically gone”. They raised the issue in a cabinet meeting in the same week that…
DetailsMumbai: IDBI Trusteeship has moved the Bengaluru bench of the National Company Law Tribunal to initiate insolvency proceedings against Coffee Day Enterprises Ltd for an alleged default of 228 crore, the company said in a regulatory filing on Friday. Coffee Day Enterprises is the parent company of the Coffee Day group. The company is seeking…
DetailsAs part of the ongoing bankruptcy process of coffee chain firm Cafe Coffee Day (CCD), an application has been filed against the company under Section 7 of the Insolvency and Bankruptcy Code (IBC). According to a regulatory filing by Coffee Day Enterprises to the stock exchanges September 8, the application is filed by IDBI Trusteeship…
DetailsCoffee Day Enterprises Ltd, which operates the Cafe Coffee Day outlets, said on Friday that an application has been filed at NCLT against the company under Section 7 of Insolvency and Bankruptcy Code. The application has been filed by IDBI Trusteeship Services before National Company Law Tribunal, Bengaluru for alleged default of Rs 228 crore.…
DetailsThe British arm of TIOmarkets, TIO Markets UK Limited, went under “consolidation [and] restructuring” in 2022, pushing its yearly revenue down to $34,171. In the previous year, the company reported a revenue of $150,961. Dedicated Forex cloud solutions with stable and fast cross-border connections capable of high-demand scenarios. Alibaba Cloud helps Forex traders to operate…
DetailsThe Insolvency Service Updated 4 August 2023 Applies to England and Wales Contents 1. Introduction 2. Executive summary 3. How to respond 4. The personal insolvency framework 5. Areas for consideration 6. Call for evidence questions 7. What happens next? Print this page Crown copyright 2023 This publication is licensed under the terms of the…
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