Here’s Why We Should Allow Liquidation of a Company as a ‘Going Concern’ – The Wire

The past few weeks have seen debates surrounding the Parliamentary Standing Committees call for an overhaul of the Insolvency and Bankruptcy Code owing to low recovery rates and delays in resolution process. Citing a high rate of pendency and incidences of liquidation, the report laments colossal haircuts taken by creditors. Amongst other things, the report…

Feudalism of corporate debtors gone after IBC implementation: CEA K V Subramanian – Economic Times

With the implementation of the insolvency law, the days of feudalism of corporate debtors where they had considered it their divine right to be in control are gone, Chief Economic Adviser K V Subramanian said on Friday. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound…

Machine learning data pipeline outfit Splice Machine files for insolvency – The Register

California-based ML data pipeline company Splice Machine has begun insolvency proceedings, according to a statement on its website. The startup which counted bank Wells Fargo, retailer Kroger, and optical networking company Infinera among its customers specialised in building a database for feature engineering which it hoped would ease machine learning data pipelines. Based around Jupyter…

New business registrations are actually up, despite COVID-19 lockdowns – ABC News

Despite fears the pandemic would lead to mass businessfailures, the number of Australians running businesses has actually shot up. Key points: The Australian Bureau of Statistics reports an increase in the number of registered businesses during the pandemic Julie Kay says starting a business means she can set her own goals The Australian Restructuring, Insolvency…

Vijay Mallya files for permission to appeal against bankruptcy in UK high court – Times of India

LONDON: Fugitive Indian businessman Vijay Mallya has filed papers in the UK high court seeking permission to appeal against his bankruptcy order.Mallya (65) was declared bankrupt by the insolvency and companies court (ICC) of the high court on July 26 this year. His name is now listed in the individual insolvency register.A spokesman for the…