Bar & Bench Weekly IBC Diary #2: Liquidator can sell corporate debtor as a going concern, CoC Code of Conduct and more – Bar & Bench – Indian Legal News

Liquidation

The Bar & Bench Weekly IBC Diary aims to report crucial rulings of various courts and tribunals and important updates concerning the Insolvency & Bankruptcy Code (IBC), 2016. 1. SM Milkose Limited & Anr v. Parvinder Kumar Bhatt & Ors. (NCLAT, Delhi) Issue involved: Whether any amounts received by the corporate debtor during the currency…

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Boeing 777 held by Dutch sold; insolvency process to close now: Jet Airwayss – Business Standard

Bankruptcy

Jet Airways said one of Boeing 777 aircraft, which was under the custody of Dutch Administrator due to insolvency proceedings in Netherlands is sold, and proceedings to be utilised to close process TopicsJet Airways|IBC Jet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator…

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Philippine Airlines Inc. (PAL) Reaches Agreement with Key Stakeholders to Successfully Navigate the COVID-19 Pandemic and Position the Company for Long-Term Growth and Profitability – Business Wire

Restructuring

MANILA, Philippines–(BUSINESS WIRE)–Philippine Airlines Inc. (PAL) announced today that it has entered into a series of agreements with substantially all of the Companys lenders, lessors, and aircraft and engine suppliers, as well as its majority shareholder, to allow the Company to successfully restructure and reorganize its finances to navigate the COVID-19 crisis and emerge as…

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Here are some strategies to pay off that big credit card debt – CNBC

Debt Help

Tippapatt | iStock | Getty Images It’s yet another example of how the pandemic’s economic recovery has been uneven: While overall credit card debt is on the decline, others are seeing their balances mushroom into huge figures. Money Management International, a nonprofit credit counseling agency, recently analyzed the credit card balances of renters who sought…

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McLeod Russel steps out of insolvency after settlement with creditors – Business Standard

Bankruptcy

The promoters of McLeod Russel India, the countrys largest tea producer in India, have reached a settlement with financial creditor, Techno Electric & Engineering, paving the way out of insolvency. Aditya Khaitan, chairman and managing director, McLeod Russel India, did not comment. P P Gupta, managing director, Techno, said, The matter stands closed to our…

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