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The National Company Law Tribunal (NCLT), Chandigarh Bench, has ordered the liquidation of debt-ridden textile manufacturer Venus Garments (India) Limited (VGIL), bringing an end to the company’s Corporate Insolvency Resolution Process (CIRP) that began in 2022. The ruling, delivered on July 22, 2025, dismissed a last-ditch effort by the company’s promoter to invite fresh bids…
A record number of companies are in “critical financial distress according to latest Red Flag Alert data, which shows that there are 49,309 firms on the brink of insolvency. The figures mark a 21.4% increase from a year ago. All 22 sectors surveyed reported a rise in ‘critical’ financial distress over the previous 12 months.…
A Welsh businessman, who was made bankrupt nearly 20 years ago, has been jailed for more than four years after hiding £130,000 in assets, continuing to operate as a company director, and obtaining more than £100,000 in credit. Helim Miah ran Fresh ‘N’ Clean (Wales) Ltd until 2006, when he was made bankrupt owing £12.3…
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…
MONTPELIER — A bill that passed unanimously through both state chambers this spring will erase up to $100 million in medical debt and is now beginning to be implemented. S.27 will primarily aid low- and moderate-income Vermonters, targeting debt over 18 months-old and be managed by the non-profit partner Undue Medical Debt. Due to high…
Brokers are being urged to remain alert to dishonest credit repair and debt management organisations to help better protect their clients. ASIC recently announced a review into the credit repair and debt management sector following reports of dishonest practices. The exploitation of vulnerable customers is being weeded out by the regulator after it claimed some…
Burton mine complex owner Bowen Coking Coal has called in the administrators after failing to secure fresh capital or reach a suitable deal with creditors in its recent financial battles. The company announced today that it appointed Mark Holland and Shaun Fraser of McGrathNicol Restructuring as voluntary administrators for a raft of business entities. ‘The…
Residents submit petition to City of Windhoek seeking debt relief and service improvements Informanté Read the original article here