Construction has been named as the sector with the most firms facing “critical” financial pressure, with almost 7,000 businesses at risk of bankruptcy. In its latest Red Flag Alert report covering the fourth quarter (Q4) of last year, insolvency practitioner Begbies Traynor said that 6,830 construction firms in the UK ended 2024 in “critical financial distress”. It…
Lürssen moves to acquire Nobiskrug, FSG confirms sale to Heinrich Rönner Group Boat International Read the original article here
Markham-based Krieger & Company Inc. has been appointed as trustee of the estate for the Aurora chocolatier renowned for its distinctive buttercrunch treat One Chocolate Corporation, the owners of iconic Aurora chocolatier Fraktals, has declared bankruptcy. A notice posted on the door of its retail location on Industrial Parkway South said that One Chocolate Corporation made…
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An improving insolvency framework is important for achieving 7-8 per cent economic growth over the next decade, the Economic Survey said on Friday and pitched for imposition of higher costs to prevent entities from filing frivolous applications during the resolution process. The suggestion also comes against the backdrop of long delays in the insolvency resolution…
The Economic Survey 2024-25 lavished praise on the Insolvency and Bankruptcy Code (IBC) for transforming the behaviour of distressed companies, highlighting that the law has acted as a deterrent, encouraging many firms to resolve their financial distress early in order to avoid the consequences of a resolution process. The survey notes, “Thousands of debtors are…
What now for Byju’s? Insolvency process faces fresh hurdles after NCLT order MSN Read the original article here
Israeli cybersecurity firm files for insolvency over debt Tech in Asia Read the original article here
What now for Byju’s? Insolvency process faces fresh hurdles after NCLT order MSN Read the original article here
IBBI chief Ravi Mital on Thursday said companies in India have not learnt how to use the insolvency law and pitched for efforts to ensure that more companies opt for the voluntary resolution process to increase productivity. The Insolvency and Bankruptcy Code (IBC), which provides for a market-linked and time-bound resolution of stressed assets, came…