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pre-pack scheme: Pre-pack scheme under IBC likely for large companies too

As part of amendments to the IBC, the corporate affairs ministry will likely include the provision to extend the pre-packaged insolvency framework to large firms or introduce a similar "creditor-led resolution" mechanism for them, but only when it believes the time is right, a person told ET on condition of anonymity.

National company law tribunalBankruptcy codePrime ministerPre pack schemeLarge firmsBankruptcy settlement processInformal bankruptcy settlementBankruptcy casesCreditor led resolutionCorporate affairs ministry

Eye on more speed & efficiency, govt readies major strength upgrade for NCLT

The primary objective is not only to expedite the resolution of insolvency cases, which has significantly slowed down recently, but also to ensure a swifter resolution of company law matters heard by NCLT benches, according to a senior official cited by TOI.

Uttar pradeshNorthwestern universityOffering collegeIndian school of businessErnst youngKellogg marketing leadership development programNational company law tribunalCorporate journeyStrategic skillMarketing officerBankruptcy boardCompanies actNclt member strengthBankruptcy cases

How billionaire Mittal s distressed brother got a $500 million bailout far away from India

Pramod Mittal, lesser-known in the steel industry compared to his brother Lakshmi, is navigating financial turmoil. Nigeria agreed to pay nearly $500 million to settle his company s dispute, aiding his debt-laden venture. Despite Nigeria s payments to Mittal s company, creditors await settlements, highlighting the complex web of his financial troubles.

United kingdomComunidad autonoma de catalunaUnited statesCity ofUttar pradeshAbuja federal capital territorySofiya gradBosnia herzegovinaThe philippinesLai mohammedMuhammadu buhariMohammed adokeBola tinubuShuaibu auduAbubakar malamiPramod mittal

Mitchell Gold and Bob Williams customers get some surprising good news

In a very bleak situation, the company has worked out a deal that should make some people happy (to a point).

United statesBob williamsRyder system incMitchell goldRyder systemBenedikt geyerCustomer letterEligible customerUndelivered furnitureMitch goldUnited states bankruptcy judgeBankruptcy cases

Bankrupt Mitchell Gold and Ryder reach deal on undelivered products

Bankrupt Mitchell Gold and Ryder reach deal on undelivered products
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United statesLaurie selber silversteinBob williamsAmerican expressMitchell gold coMitchell goldRyder last mileUnited states bankruptcy judgeBankruptcy cases

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