Resolution winner is bound by plan, SC rules in Metalyst Forgings case

Mumbai: The resolution plan approved by the committee of creditors for an Amtek Auto subsidiary will be binding on the winning bidder that wanted to withdraw, India’s apex court has reiterated in its latest ruling on the Arvind Dham-promoted insolvent company. The Supreme Court overturned orders from a bankruptcy court and an appellate tribunal allowing … Read more

Canada Post selling off logistics business as part of effort to ‘transform’ Crown corp

Canada Post Inc. is selling off its third-party logistics business to a Montreal company, according to a media release Tuesday from the Crown corporation. The sale of SCI Group Inc. to Metro Supply Chain comes as the country’s national postal service “focuses on transforming to serve the changing needs of Canadians and Canadian businesses,” says … Read more