Mitel Set to File for Bankruptcy, Reports – CX Today
Mitel Set to File for Bankruptcy, Reports CX Today Read the original article here
Zomato may face insolvency plea before NCLT, ET LegalWorld
Food delivery aggregator Zomato may face an insolvency plea as one of its operational creditors has moved the National Company Law Tribunal (NCLT), seeking restoration of its previous petition. Nona Lifestyle Pvt Ltd, an operational creditor, has moved NCLT requesting to restore an insolvency plea filed by it earlier against Zomato Ltd under Section 9…
Turkish airline Atlasglobal’s bankruptcy finalized as court ends legal battle
Turkish airline Atlasglobal’s bankruptcy finalized as court ends legal battle July 24, 2024 12:24 PM GMT+03:00 Atlasglobal, a prominent Turkish airline, declared bankruptcy in June 2021, officially confirmed by the Supreme Court. While this development marks the end of a significant chapter in Türkiye’s aviation industry, the process has been marked by numerous legal developments…
SC verdict on Bhushan Power and Steel resolution may burn a Rs 22k-cr hole in JSW pocket
NEW DELHI: The Supreme Court’s decision to revoke the resolution plan of Bhushan Power and Steel Ltd (BPSL) could burn a ₹22,000 crore hole in the consolidated turnover of JSW Steel. BPSL, which was acquired by the Sajjan Jindal-promoted JSW Steel in 2021, earned revenue of ₹21,800 crore in FY24 and posted a total profit…
Moneyhub Extends Its Partnership With Experian to Help People Pay Debt Faster
Moneyhub, a leading UK data and analytics platform, has today announced an extension of their partnership with Experian, the global data and technology company, to introduce the innovative Credit Dashboard. This tool is designed to empower consumers with effective debt management solutions, enabling them to navigate financial challenges with greater ease and confidence. This collaboration…
Covid left me thousands of pounds in debt. Here’s how I turned it around
But the money was just disappearing. I’d managed to find another job once the first Covid lockdown eased, but then the second lockdown hit in November 2020. I ran up multiple overdrafts, and applied for and maxed out credits cards to pay for groceries. Only thinking about feeding my kids, I didn’t think about the…
Corporate Exit Regime: India’s Bankruptcy Reforms Need One Final Push
Global lessons show that an efficient corporate exit regime can recycle money, talent and investor confidence. Corporate exit regime: Companies are born, they grow—and, sometimes, they must bow out. Founders rarely plan for failure, yet a clean, predictable exit is as vital to capitalism as easy incorporation. When insolvency drags on, investment freezes, workers are…
Pope’s death, US aid cuts complicate Vatican’s debt relief push
People walk in front of St. Peter’s Basilica in St. Peter’s Square ahead of the conclave, which will be held on May 7, at the Vatican, April 30, 2025.—Reuters LONDON: The death of Pope Francis and global aid cuts led by the US could complicate the work of a group of experts assembled by the…
Why SC quashed JSW’s Rs 19,700 cr insolvency resolution plan for Bhushan Power & Steel
Rejecting the company’s request not to overturn the National Company Appellate Tribunal’s (NCLAT) order since it had complied with the resolution plan, Justices Trivedi and Sharma remarked: “A situation of fait accompli cannot be permitted to be created in the court to frustrate the proceedings, more particularly when the corporate insolvency resolution (CIR) proceedings had…
Student Debt Cuts: Billions in student debt relief just months away under newly reelected Labor government
Prime Minister Anthony Albanese campaigned on the promise to forgive $16 billion in student debt. Now Labor has won the 2025 federal election and Australians want to know when those student debt cuts are going to come into effect. From July 1, the newly re-elected Albanese Labor government will slash a further 20 per cent…