Page 4 - Liquidation

Arbitral tribunal rules ZCCM breached dispute resolution provisions over Vedanta mines

A Zambian court has stayed hearing by a state-appointed provisional liquidator for splitting up Vedanta Resources' Konkola Copper Mines (KCM) unit and selling the assets. The stay on KCM liquidation proceedings has been granted to allow Vedanta and the Zambian government to proceed to arbitration, Vedanta said in a filing to the Singapore Stock Exchange. Metals and mining firm Vedanta Resources held a 79.4 per cent stake in KCM while the Zambian government through its state mining investment firm ZCCM-IH holds the remaining 20.6 per cent. Vedanta has been locked in a dispute with the Zambian government since May 2019, when the Zambian government handed control of the mine to a liquidator. Legal arguments over the case have been heard in both Zambia and South Africa. "Zambian Court of Appeal has granted a stay in respect of any hearing of the merits of the Winding Up Petition and Amended Petition in respect of Konkola Copper Mines plc pending a decision in respect of the arbitrati

Liquidation an outcome of market forces: IBBI chairperson M S Sahoo

Sahoo was responding to the criticism that only 25 per cent of IBC cases end up in resolution while the remaining get liquidated

More than 60% of insolvency proceedings led to liquidation in Sep quarter

Liquidations were only one-third of total cases closed in the previous quarter

Liquidations under IBC in Q2 jump, new applications remain subdued

Critics of the IBC have often pointed out that the delays in admission, resolution and liquidation might be making it an unattractive proposition

Lavasa may go for liquidation: Lenders didn't get even Rs 5-cr upfront cash

Originally set up by HCC in 2000, Lavasa was developed as a picturesque hill station near Pune.

IBBI allows transfer of illiquid assets and debt for quicker case closure

The rules come at a time when the liquidation process takes much longer than envisaged under IBC

Liquidation process can allow public auction of non-realisable assets: IBBI

Says if auction is not possible, the assignment--transferring the rights and obligation of an asset--may be done on arm's length basis by the liquidator

Videocon lenders to seek better offers before last call on liquidation

As economy picks up, they expect bidders to come back to table

Insolvency and Bankruptcy Board amends liquidation process regulations

IBBI is a key institution in implementing the Insolvency and Bankruptcy Code (IBC), which provides for market-linked and time-bound resolution of stressed assets

Bond market warms up to NBFCs, but India's top-rated companies benefit

The liquidity situation for non-banking financial companies (NBFCs), which had been facing a crunch on this front for some time now, is improving.

Suitors for Jet Airways narrow down to four from 12, final list on June 10

RP is set to present resolution plan, if any, to adjudicating authority on July 23

Realisation of 823 firms under IBC only 7% of admitted claims till January

Till January, financial creditors had recovered around 44.01 per cent

MCA notifies winding-up rules: Shutting business now easier for small firms

The Central government will provide required approvals to such companies for winding up instead of the tribunal

Investors have infused $1 bn in stressed real estate assets: JLL India CEO

It is the housing segment that presents "the maximum amount of stressed assets", Nair said

Liquidation of Voda-Idea may mean Rs 1.7-trillion hit for shareholders

A collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group

Tata Power's liquidation of non-core assets to gain steam: Report

Company's debt-equity ratio seen falling to 1.96 by FY21

Detailed liquidation rules in the works to save viable firms: IBBI chairman

During the Oct-Dec quarter of 2018, 78 Corporate CIRPs ended in liquidation, taking the total number to 302