The Supreme Court’s order on Bhushan Power and Steel’s (BPS) insolvency resolution has set back the country’s bankruptcy law. The country’s top court overturned JSW Steel’s bid for BPS six years after it was approved by the National Company Law Tribunal and four years after the National Company Law Appellate Tribunal gave its go-ahead. Meanwhile,…
In today’s Finshots, we look at how a thousand of crores worth of a resolution plan was tossed out years later and why it could shake the very core of India’s insolvency law. The Story If I told you a steel company collapsed under ₹47,000 crores of debt, you might think it’s one of those…
Former pub landlord failed to declare he was bankrupt when applying for Covid loan St Helens Star Read the original article here
Taxation expert’s company won €4m action over UK firm misusing confidential information Stock image A firm controlled by high-profile Irish accountant and film financier Kieran Corrigan has petitioned to have a UK businessman declared bankrupt. The move comes after Mr Corrigan’s company was awarded £3.5m (€4.1m) in damages last year following a high court trial…
The Supreme Court ruling quashing Bhushan Power & Steel’s (BPSL) resolution plan has upended JSW Steel’s ₹19,000 crore acquisition. Mint explains the recovery options—from a Supreme Court review to potential government intervention. Why is it a big blow to JSW? The Supreme Court ruling invalidating JSW Steel’s ₹19,700 crore acquisition of BPSL is a major…
Over the past 15 years, 27 airlines have filed for bankruptcy, including the recent case of Silver Airways in December 2024. For passengers, these events can lead to confusion, frustration, and financial loss—especially when flights are canceled with little warning and refunds are hard to come by. What Happens When an Airline Goes Bankrupt? According…
Nearly 1,000 Belgian businesses went bankrupt in April The Brussels Times Read the original article here
Founded in Sweden in 2019, the young company set out on a mission to build the electric truck of the future, and opted for a complete in-house development instead of converting a diesel model. Now, Volta Trucks is insolvent for the second time: both the company Volta Commercial Vehicles Limited in the UK and the…
Former employees of bankrupt Steward Health Care may soon collectively lose tens of millions of dollars in retirement savings, as financial reckoning continues for the system that once operated eight hospitals in Massachusetts. Those employees put their trust — and their savings — with the company, only to see their retirement funds revert to Steward…
A miffed Revanth Reddy was responding to remarks from government employees’ union threatening to ‘wage war’ against his government. He alleged the BRS government left unpaid dues of ₹50,000 crore, including to Singareni Collieries and contractors, and took loans at steep 11% interest, questioning KCR’s financial decisions and priorities. Published May 05, 2025 | 10:41…