Mumbai: The Pre-packaged Insolvency Resolution Process (PPIRP) has resulted in the full settlement of operational creditors’ claims in five cases. They are – Amrit India, Sudal Industries, Shri Rajasthan Syntex, Enn Tee International and GCCL Infrastructure and Projects. The government enacted the Insolvency and Bankruptcy Code (IBC) in August 2021 and introduced the PPIRP for … Read more
After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the company’s acquisition. The Mumbai bench of the National Company Law Tribunal (NCLT) has given its nod to Metalyst Forgings’ acquisition by Deccan Value Investors LP-led … Read more
FTX says that nearly all of its customers will get back the money they are owed — and some will get more than that — nearly two years after the cryptocurrency exchange imploded. FTX said in a court filing late Tuesday that it owes about $11.2 billion US to its creditors. The exchange estimates that it has between $14.5 … Read more
