Daily Archives: March 19, 2025

IBBI mandates ‘robust’ disclosure of losses carried forward in CIRP – Banking & Finance News

The Insolvency and Bankruptcy Board of India (IBBI) has tightened disclosure requirements for insolvency professionals, mandating them to include “comprehensive details” of carry forward of losses in the information memorandum prepared during the corporate insolvency resolution process (CIRP). This enhanced disclosure framework is intended to provide potential resolution applicants with more comprehensive understanding of a…

Compulsory liquidations hit decade-long high as firms face rising costs

Some 393 companies were forced to wind up in February across England and Wales – the highest monthly number since September 2014, the Insolvency Service said. Compulsory liquidation is when a firm is ordered to shutter by a court because it is unable to pay its debts. Meanwhile, the number of overall companies closing down…

Hudson’s Bay Company Faces Uncertain Future Amid Possible Liquidation

While the future of the Hudson’s Bay Company remains uncertain, its Langley location offered signs Monday (March 17, 2025) of impending closure. The atmosphere inside the store reflected dwindling inventory and bare shelves. Cases once filled with watches were now empty, cosmetics counters were unattended, and employees revealed some unsettling news to customers, stating, “We…