NCLT Holds Loan Carries Time Value of Money, Admits Insolvency Plea against Online Gaming Firm Over ₹2.81cr Loan Default [Read Order]

In a recent ruling, the National Company Law Tribunal, Kolkata Bench, has held that the loan advanced to online gaming firm Omnibay Private Limited carried the “time value of money,” thereby qualifying as a financial debt under Section 7 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor, Omnibay, engaged in digital gaming and entertainment, had sought funds…

IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2026

On 19 May 2026, the Insolvency and Bankruptcy Board of India notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2026 to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The provisions came into force on 20 May 2026.…

Can Cannabis Companies File Bankruptcy? The New Chapter 15 Roadmap

Mark Salzberg and Katherine Catanese of Squire Patton Boggs highlight The Cannabist Company’s Chapter 15 recognition order as a narrow but significant roadmap for cannabis restructurings involving Canadian or other foreign parent companies, suggesting that US bankruptcy courts may grant ancillary relief where the main proceeding is in a jurisdiction where cannabis is legal, even…