The Supreme Court‘s ruling in the JSW Steel-Bhushan Power & Steel case has put the spotlight on the slow pace of insolvency resolutions, with legal experts warning that many companies awaiting resolution may now be headed for liquidation. The court, in its May 2 order scrapping JSW Steel‘s acquisition of Bhushan Power & Steel (BPSL),…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…
The Supreme Court’s order on Bhushan Power and Steel’s (BPS) insolvency resolution has set back the country’s bankruptcy law. The country’s top court overturned JSW Steel’s bid for BPS six years after it was approved by the National Company Law Tribunal and four years after the National Company Law Appellate Tribunal gave its go-ahead. Meanwhile,…
This is the story of the first Indian insolvency proceeding to be granted recognition by the Singapore Court under the UNCITRAL Model Law on Cross-Border Insolvency (“Model Law”). This recognition, besides facilitating the challenging cross-border asset recovery, has also opened the doors for deeper insolvency cooperation between India and Singapore. What prompted the Resolution Professional…
Liquidators are investigating if a Christchurch restaurant operation owing Inland Revenue an estimated $800,000 has further debts. Bikanervala Christchurch Limited, trading as Bikanervala, appears to have gone under as a result of difficult trading conditions. A first liquidator’s report was put out on Monday, May 5 by Paul Vlasic and Derek Ah Sam from Rodgers…
This article was produced for ProPublica’s Local Reporting Network in partnership with the Tennessee Lookout. Sign up for Dispatches to get stories like this one as soon as they are published. We are continuing to report on flex loans. Have you been sued by Advance Financial, Harpeth Financial or another flex loan lender? To share…
In this blog, which is based on an article published in Tax Journal on 23 April 2025, we consider the appropriate mechanism to challenge decisions taken by HMRC’s debt management team. Introduction In Local Fuel Ltd v HMRC [2025] EWHC 390 (Ch), the High Court considered an application by HMRC to strike out…
In today’s Finshots, we look at how a thousand of crores worth of a resolution plan was tossed out years later and why it could shake the very core of India’s insolvency law. The Story If I told you a steel company collapsed under ₹47,000 crores of debt, you might think it’s one of those…
Former pub landlord failed to declare he was bankrupt when applying for Covid loan St Helens Star Read the original article here
Taxation expert’s company won €4m action over UK firm misusing confidential information Stock image A firm controlled by high-profile Irish accountant and film financier Kieran Corrigan has petitioned to have a UK businessman declared bankrupt. The move comes after Mr Corrigan’s company was awarded £3.5m (€4.1m) in damages last year following a high court trial…