[ad_1] Revlon Inc. filed for Chapter 11 Unable to manage its huge debt load amid bankruptcy, supply chain crisis and high inflation. The billionaire-owned cosmetics giant Ron Perelman sought court protection in the southern district of New York, and listed both assets and liabilities up to $10 billion, according to court papers. Chapter 11 filings allow a company to continue operating while it works on a plan to repay creditors. Bankruptcy is a difficult period for the company, which was suffering during the pandemic and faced years of declining sales…
Tag: Bankruptcy
The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2022
[ad_1] F. No. ibbi/2022-23/gn/REG.081.– In exercise of the powers conferred by clause 1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Procedure) (Amendment) Regulations, 2022. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Procedure) Regulations, 2017 (hereinafter referred to as the principal rules), in regulation 2, in sub-regulation (1), in clause (c), for the figure and bracket 3(4), figure and bracket 3(3) shall be…