Advance data reveals March was lethal month for many firms

While March’s official statistics and details of insolvencies won’t be confirmed by the government’s Insolvency Service (IS) until April 25, an agency that supplies data on companies in distress for those seeking to “capitalise on crisis” has warned that the month saw businesses collapsing at an alarming rate. London-based agency Administration List, which sells speculators…

Supreme Court upholds Piramal’s resolution plan for DHFL

In a landmark judgment, the Supreme Court of India has upheld the resolution plan submitted by Piramal Capital and Housing Finance Limited (formerly Dewan Housing Finance Corporation Limited, or DHFL) for the insolvency resolution of DHFL, setting aside the National Company Law Appellate Tribunal’s (NCLAT) order that had partially modified the plan. The apex court’s…

Bax Music files for bankruptcy

Dutch musical instrument retailer Bax Music has been declared bankrupt. According to De Telegraaf, Bax Music was officially declared bankrupt today by The Netherlands’ Zeeland-West-Brabant court. The ruling reportedly comes after years of financial strain, with the company owing money to multiple investors and creditors, including the Dutch Tax Authority. The company also suffered financially…