Insolvency resolution: SBI ropes in A&M, EY, Deloitte and PwC – Economic Times

MUMBAI: State Bank of India has mandated bankruptcy specialist Alvarez & Marsal to act as interim resolution professional to reorganise Ruias-owned Essar Steel that defaulted on Rs 44,000 crore debt, said two people familiar with the development. The nation’s biggest lender has also hired Ernst & Young, Deloitte and PricewaterhouseCoopers to handle the insolvency proceedings…

New rules facilitating cross-border insolvency proceedings enters into force today – EU News

The new rules aim at facilitating debt recovery in cross-border insolvency proceedings. They will make it easier for businesses to restructure and for creditors to get their money back, by ensuring that collective procedures for cross-border debt recovery are effective and efficient. The Regulation focuses on resolving the conflicts of jurisdiction and laws in cross-border…

£407m debtor Kevin Maxwell faces bankruptcy for a SECOND time: Businessman due in court today, reveals … – Daily Mail

By Sebastian Shakespeare for the Daily Mail Published: 10:57 +10:00, 26 June 2017 | Updated: 11:20 +10:00, 26 June 2017 e-mail 34 View comments Kevin Maxwell faces being declared bankrupt at the High Court in London for a second time, Sebastian Shakespeare reveals Kevin Maxwell was declared the biggest personal bankrupt in British history in 1992,…

Auctionata’s Remaining Inventory Hits the Block in Germany as Once-Prominent Startup Winds Down For Good – artnet News

A large potion of Auctionatas holdings is going under the hammer in Berlin and Cologne this week, marking perhaps the final chapter in the companys tumultuous five-year history. The sales, which come five months after the German online art auctioneer began insolvency proceedings (the German equivalent of bankruptcy) in January, offer new insight into Auctionatas business…

IBBI does quality check on insolvency professionals – Economic Times

NEW DELHI/ KOLKATA: Efficiency of the resolution infrastructure depends on the capabilities of the insolvency professionals The Insolvency and Bankruptcy Board of India (IBBI), the regulator overseeing bad-loan resolutions, is scaling up its capabilityassessment procedures to ensure that quality Insolvency Professionals are deployed in the potentially `8 lakh-crore exercise, seeking to win over an ecosystem…