The tribunal has asked Aircastle’s lawyer to explain how the plea is maintainable with some legal precedents, the case is likely to come up for hearing on July 17. The National Company Law Tribunal (NCLT) on June 13 questioned the maintainability of aircraft lessor Aircastle (Ireland) Limited’s second insolvency petition against SpiceJet. The tribunal has…
DetailsJune 13 (Reuters) – British cinema chain operator Cineworld (CINE.L) is preparing to file for administration as a part of a financial restructuring plan, Sky News reported on Tuesday. The company is lining up AlixPartners to act as administrator to help with the transfer of ownership to its lenders, the report added. An announcement is…
DetailsThe end of the federal student loan payment pause is within sight. After a three-year moratorium, federal student loans will resume accruing interest on September 1, the Department of Education has confirmed. Payments will be due in October. Borrowers have had a rough timeline of when interest and payments would resume, but now there is…
DetailsThe bankruptcy regulator will prepare a “common panel” of insolvency professionals (IPs) from those registered with it and share the list in advance with the adjudicating authority to choose from to oversee various cases of resolution or liquidation from July 1. At present, the Insolvency and Bankruptcy Board of India (IBBI) is required to recommend…
DetailsThe National Company Law Tribunal, in the petition filed by aircraft lessor Wilmington Trust SP Services (Dublin) Ltd for initiating the corporate insolvency resolution process, adjourned the matter on Monday. The matter is likely to be listed on July 16.This is the third case filed by the company against the airline. Two other cases under…
DetailsMUMBAI : EY India, the designated process adviser to Go Airlines (India) Ltds corporate insolvency resolution process, is likely to recommend the airlines lead creditors to infuse as much as 500 crore into the carrier to facilitate the immediate resumption of flight operations as Indias aviation industry records a resurgence in air passenger traffic, a…
DetailsAt a glance Woking Borough Council was warned four years ago about its debt levels Debts of 2.6bn have forced the council to effectively declare itself bankrupt One of the group who carried out a peer review in 2019 said: “I remember asking key figures at the council how they slept at night with debts…
DetailsFrom Khaitan & Co., the deal was led by Siddharth Srivastava (Partner, Restructuring & Insolvency/ Banking & Finance), Mohit Kishore (Counsel), Udita Singh (Senior Associate) and Shikha Mohini (Associate). The tax aspect of the deal was led by Vinita Krishnan (Director, Direct Tax), Rahul Jain (Principal Associate) and Sambhav Mama (Senior Associate) Khaitan & Co…
DetailsAt a glance Woking Borough Council was warned four years ago about its debt levels Debts of 2.6bn have forced the council to effectively declare itself bankrupt One of the group who carried out a peer review in 2019 said: “I remember asking key figures at the council how they slept at night with debts…
DetailsEmbracer Group has announced a business restructuring. The Swedish holding company plans a multi-phase program aimed at increasing its growth and long-term efficiency. Warhammer 40,000: Space Marine 2 What are the goals of Embracer Groups restructuring? On June 13, Embracer CEO Lars Wingefors outlined the main points of the restructuring program in an open letter…
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