GAC Fiat Chrysler Automobiles joint venture declared bankrupt

BEIJING (Reuters) -GAC Fiat Chrysler Automobiles, a joint venture between Stellantis and China’s Guangzhou Automobile Group, said on Tuesday it has been declared bankrupt. The joint venture posted images of a ruling issued by a court in China’s Hunan province declaring the bankruptcy, alongside its announcement, in a social media post. (Reporting by Beijing Newsroom;…

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Rules amended to enhance disclosure on avoidance transactions

In a significant move aimed at to bring greater scrutiny to past financial dealings of distressed companies, particularly those termed avoidance transactions, the Insolvency and Bankruptcy Board of India (IBBI) has notified key amendments to the Insolvency and Bankruptcy rules. These changes are effective immediately. The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process…