Restart Energy One, a Romanian independent energy supplier and renewable project developer, has proposed repaying just 17% of the face value of its bond debt as part of a restructuring plan submitted under a pre-insolvency procedure. The company published the proposal in a report to the Bucharest Stock Exchange on July 9. The plan allocates…
Merit Street Media claims TBN ‘sabotaged’ new network, didn’t live up to commitments On the same day it filed Chapter 11 bankruptcy, Dr. Phil McGraw’s company, Merit Street Media, filed a breach of contract suit against Trinity Broadcasting Network (TBN). The lawsuit accuses the Christian broadcasting giant of sabotage, failing to fulfill its financial obligations,…
There’s a mystery afoot on Capitol Hill. Tucked within the Republican megabill President Donald Trump signed on July 4 was a tax provision that surprised most, if not all, of the Republican members of Congress who voted for it. The provision limits the amount gamblers can deduct from their income taxes based on their losses…
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Pa. nursing home operator Genesis enters bankruptcy with $58 million tax debt to state penncapital-star.com Read the original article here
New Zealander gets two years in prison for $1 million theft to cover gambling debts ReadWrite Read the original article here
IBBI Tightens Insolvency Rules To Curb Asset Misuse BW Businessworld Read the original article here
The Mumbai bench of the National Company Law Tribunal (NCLT) has ordered the initiation of a corporate insolvency resolution process (CIRP) against Gstaad Hotels Pvt Ltd following a petition by its financial creditor, Omkara Asset Reconstruction Pvt Ltd, owing to a default of Rs 665.74 crore. The debt, originally extended by Piramal Capital and Housing…
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On 2 May 2025, the Supreme Court delivered a far-reaching Judgement in the matter of Kalyani Transco v Bhushan Power and Steel Ltd. The Court was hearing appeals by a bunch of operational creditors who had challenged the Corporate Insolvency and Resolution Process (CIRP) of Bhushan Power and Steel Limited (BPSL). In 2019, the National…