Amit Karia, a Mumbai-based insolvency professional, has handled a number of complex corporate insolvency resolution processes (CIRPs) over the past few years. Out of 10 CIRPs, he managed to get resolution in five of them – four of which are related to real estate companies. Karia has demonstrated a remarkable ability to achieve swift resolutions…
Corporate liquidation, also known as winding up, is a formal process through which a company’s legal existence is brought to an end, whether due to insolvency, inability to pay debts, or a voluntary decision by its stakeholders (Insolvency and Bankruptcy Code, 2016) [1]. In India, the prominence of corporate liquidation has increased significantly following the…
NCLAT Fortnightly: Important orders on IBC (January 16 – January 31, 2025) Bar and Bench Read the original article here
Business owners are becoming more conservative with borrowing after recent data highlighted challenges are persistent. Business failures are rising and forcing many to rethink processes, according to the Experian Commercial Risk Barometer. As of the last quarter of 2024, there was a 0.7 per cent increase in businesses operating in the Australian market. Businesses at…
The Insolvency and Bankruptcy Code, 2016 (IBC) was brought in as a time-bound solution to the problem of interminable winding-up proceedings. It provides for strict timelines to complete the resolution process, even as the company keeps its business running. However, adherence to timelines has proved challenging in practice. We are looking at an average of…
The number of businesses going bust in Scotland has risen as firms continue to face challenges amid a tough economic climate. According to the latest figures from Accountants in Bankruptcy (AiB) – Scotland’s insolvency service – there were 1,175 corporate insolvencies in the year 2024-2025, an increase from the previous year’s figure of figure of 1,168.…
After triggering liquidations at 86 locations across Canada, the Hudson’s Bay Co. has decided to liquidate its remaining six Hudson’s Bay stores and one Saks Fifth Avenue location. The company had been seeking a buyer for the six stores, but on Friday said it believed that a viable bid for the current six-store model is…
COLUMBIA, Mo. (KMIZ) With more than $124,000 in unpaid school meal debt currently in collections, former Columbia Board of Education candidate Ken Rice is calling on the community to help support families and find long-term solutions. “There’s a little more than $124,000 in unpaid lunch bills that are in collections,” Rice said. “That means that…
Vera Songwe & Moritz Kraemer Today’s global economic turmoil is not just about trade. As G20 finance ministers gather in Washington this week during the annual spring meetings of the International Monetary Fund and World Bank, IMF Managing Director Kristalina Georgieva has warned that growing economic uncertainty and financial market stress pose serious threats to…
TORONTO — When the flagship Hudson’s Bay store in Toronto opened Friday morning, customers burst through the doors on a mission to find one thing: deals. Some jogged through the 675,700-square-foot store on Yonge Street in hopes of getting first pick of the company’s famed stripes merchandise. Others made a beeline for the jewelry department,…