With borrowing costs rising and western governments including the UK cutting their aid budgets, unsustainable debts are driving a development crisis across the global south. In the latest evidence, Ethiopia last week faced the threat of being sued by its creditors in the English courts, after long-running negotiations about restructuring $1bn (£740m) of its debt…
With Sheffield Wednesday set to be served with a winding-up petition over money owed to HMRC, fans are left wondering what happens next? Could the club actually go out of business? Is administration more likely? In terms of the immediate threat of liquidation, there are some things to consider. There is a new football regulator…
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How a successful Luxembourg filmmaker went bankrupt Luxembourg Times Read the original article here
This marks a key milestone in one of the longest-running corporate insolvency proceedings of the country. The five bidders in fray are billionaire Anil Agarwal’s Vedanta Ltd, billionaire Gautam Adani-led Adani Enterprises, billionaire Naveen Jindal-backed Jindal Power Ltd, Puneet Dalmia’s Dalmia Bharat and PNC Infratech Ltd. “There are more processes to be followed and approvals…
A former director of Gstaad Hotels Pvt. Ltd, which previously owned the JW Marriott Hotel in Bengaluru, has moved the Supreme Court challenging an appellate tribunal’s order that upheld insolvency proceedings against the hospitality firm. Mint has seen a copy of the petition filed by Deepak Raheja. The National Company Law Tribunal (NCLT) in July…
More corporate bankruptcies expected in 2025: challenges and developments in distressed M&A Kearney Read the original article here
Directors play a pivotal role in corporate governance, as fiduciaries entrusted with the management and affairs of the company. Under financial distress the law obliges directors to take their accountability towards shareholders, creditors and regulatory authorities. Their duty encompasses broadly as statutory and fiduciary in nature. The multi-faceted role is scrutinized in cases such as…
NEW DELHI: The National Company Law Tribunal (NCLT) has admitted an insolvency case against Blu-Smart Mobility Tech, the debt-ridden company that was providing all-electric ride-hailing services and building a network of EV charging infrastructure in India. The Ahmedabad bench of NCLT has admitted the insolvency plea filed by Lepton Software Export and Research against Blu-Smart…
The National Company Law Tribunal (NCLT) has admitted an insolvency case against Blu-Smart Mobility Tech, the debt-ridden company which was providing all-electric ride-hailing services and building a network of EV charging infrastructure in India. The Ahmedabad bench of NCLT has admitted the insolvency plea filed by Lepton Software Export and Research against Blu-Smart Mobility over…