NCLAT Declares Transactions Fraudulent U/S 66 Of IBC Due To Corporate Debtor’s Failure To Diligently Negotiate One-Sided Clause In MOU

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member), Justice Mohammad Faiz Alam Khan and Mr. Naresh Salecha (Technical Member) has held that a complete surrender on the part of the corporate debtor to negotiate the terms of the Memorandum of Understanding, by which the property from…

GMB insolvency: Borosil exits loss-making German unit GMB, focus shifts to India’s booming solar glass market

Borosil Renewables has moved to exit its German solar glass business, with its step-down subsidiary GMB Glasmanufaktur Brandenburg GmbH filing for insolvency, as the company shifts focus to the fast-growing Indian solar glass market.In a regulatory filing, Borosil said GMB has applied for the commencement of insolvency proceedings before the Insolvency Court in Cottbus, Germany,…

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Malta’s first pre-insolvency proceedings: key takeaways

Following a court application filed by Skillpro Malta Ltd (the ‘company’), on February 26, 2025, the Civil Court Commercial Section (‘court’) acceded to the company’s request to enter the preventative restructuring procedure as set out in the Pre-Insolvency Act (Chapter 631 of the Laws of Malta, and hereinafter referred to as the ‘Act’). This not…

Spain and World Bank in push for wider use of ‘debt swaps’

SEVILLE/LONDON – Spain has partnered with the World Bank to help poorer countries free up money to spend on development and conservation via debt “swaps,” the country’s Ministry of Economy said on Tuesday.  With rich governments cutting official development aid and many countries struggling with their debts, nations are trying to find creative ways to…

National Debt Relief – MEDIABIDS

BECOME DEBT FREE IN AS LITTLE AS 24-48 MONTHS If you owe more than $10,000 in credit card or other unsecured debt, see how National Debt Relief can help resolve your debt for a fraction of what you owe. ONE AFFORDABLE MONTHLY PAYMENT PROGRAM We work with you to set up a monthly payment that…