Finance Minister Nirmala Sitharaman on Tuesday (August 12) introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the Lok Sabha, aiming to make the corporate insolvency framework faster, more efficient, and aligned with global best practices. The Bill has been referred to a select committee of Parliament for further examination, following a request from…
FTI Consulting has been brought in as an administrator in the event Thames fails to secure funding from lenders. Contingency plans could see Britain’s biggest water firm placed into a special administration regime (SAR), meaning it would be put into an insolvency process. Environment Secretary Steve Reed signed off the appointment, which would still need…
FTI Consulting has been brought in as an administrator in the event Thames fails to secure funding from lenders. Contingency plans could see Britain’s biggest water firm placed into a special administration regime (SAR), meaning it would be put into an insolvency process. Environment Secretary Steve Reed signed off the appointment, which would still need…
Melb builder forced into liquidation amid claims of defective works Herald Sun Read the original article here
About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive’s editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of…
About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive’s editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of…
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[HONG KONG] Liquidators of China Evergrande Group said on Tuesday (Aug 12) they have sold about US$255 million of its assets 18 months into China’s largest debt liquidation process and taken control of more than 100 of the company’s subsidiaries. They have received creditor claims totalling US$45 billion, the liquidators said in a filing, significantly…
The National Company Law Tribunal (NCLT), Chennai Bench of Sanjiv Jain (Judicial Member) Shri. Ravichandran Ramasamy (Technical Member) has held that after the initiation of the Corporate Insolvency Resolution Process (CIRP), there can be no encumbrances on the assets of the corporate debtor, and all claims must be dealt with in accordance with Section 53…
This news release on bankruptcies focuses on the change compared to the previous year and on the bankruptcy rate. This is the number of declared bankruptcies per 100 thousand businesses. The bankruptcy rate provides a clearer picture of the change in the number of bankruptcies in the Netherlands. It also allows for better comparison between…