City launches R2.2bn debt write-off plan to help residents

The City of Cape Town has launched a R2.2 billion debt write-off initiative aimed at easing financial pressure on residents and organisations struggling to pay their municipal accounts. The initiative, approved by City Council, forms part of the 2025/26 budget, which also includes expanded rates and services relief. Under this programme, eligible customers can apply…

IBBI Suspends Insolvency Professional for Overlooking Conflict of Interest in Resolution Plan [Read Notification]

The Insolvency and Bankruptcy Board of India (IBBI) has ordered the suspension of a registered Insolvency Professional (IP) for a period of one year. The action stems from his conduct during the Corporate Insolvency ResolutionProcess (CIRP) of Maa Durga Rice Products Pvt. Ltd., where he submitted a resolution plan from a director of the suspended…