Vedanta Group submits expression of interest to acquire Jaiprakash Associates through insolvency

Business conglomerate Vedanta Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group’s flagship firm JAL, which is into cement, power, hotels, construction and real estate businesses, has been admitted into the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, through an order…

Surge in self-declared bankruptcies raises concerns in Malaysia, insolvency chief warns | Malaysia

THE growing trend of individuals voluntarily declaring themselves bankrupt in Malaysia has become a significant concern, reflecting the financial struggles many are facing in the country. In a recent statement, Director-General of the Insolvency Department Datuk M Bakri Abd Majid revealed a sharp 200 percent increase in self-declared bankruptcy cases over the past year. In…

Types and How It Works

What Is Bankruptcy? Bankruptcy is a way to get a fresh financial start (as an individual or business) if you can’t repay your debts. Typically, this requires filing a petition with a bankruptcy court. From there, a judge decides whether you must liquidate any of your assets or if the debt can be restructured to…

Moorland School parents redirected to insolvency company

Private school Moorland, in Clitheroe, informed parents and teachers on Wednesday it would be shutting its doors on Friday, March 28, citing financial strains. The shock announcement left parents frantically trying to contact former proprietor and headteacher Jonathan Harrison, but they were redirected to consultancy firm Begbies Traynor Group. However, the business said it has…