Businessman Gary Ng, a key figure in the Bridging Finance scandal, cited inaccurate legal precedents created by artificial intelligence to draft last-minute legal filings as part of his efforts to drag out his already years-long bankruptcy proceedings, according to an Ontario judge. In a March 2 decision, Ontario Court of Justice in Bankruptcy and Insolvency…
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The new system will be under creditor supervision What’s the story India‘s insolvency framework is likely to undergo a major transformation with the introduction of the Insolvency and Bankruptcy Code (IBC) Amendment Bill 2026. The proposed changes would permit certain defaulting promoters to retain control over their… Read the original article here
Q: I read this on FB. Is it true? The U.S. Treasury just declared the U.S government is insolvent. A: No. That’s the conclusion of an opinion piece that cited a Treasury report showing the government’s liabilities outweigh its assets. But that’s been the case for decades, and unlike an insolvent business, the government can levy taxes. FULL…
More than 200 jobs at risk: A German office furniture manufacturer has filed for insolvency after 168 years in operation, placing more than 200 jobs at risk. © Atit Phetmuangtong | Dreamstime The Saxony-based company, OKA, submitted its application on 1…
New economic analysis has revealed a strong long-term link between rising global oil prices and increasing corporate insolvencies in Australia, raising concerns for small businesses already facing mounting financial pressure. Research released by Halo Advisory shows that major increases in oil prices over the past 25 years have consistently been followed by waves of business…
‘Stable, solvent, safe’: Leading Polish crypto exchange denies reports of illiquidity TVP World Read the original article here
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ARCs to gather 51% creditor support The new system moves away from creditors calling all the shots and lets company management stay in control, as long as they play by the rules with creditors. The goal? Speed things up: resolving cases in 150 days, with a possible 45-day extension, instead of 330. Asset reconstruction companies…
India’s insolvency framework could soon see a significant shift, with the proposed amendments to the Insolvency and Bankruptcy Code (IBC) introducing a mechanism that allows certain defaulting promoters to retain control of their companies during the resolution process, The Times of India reported on April 7. The system, according to the report (by Mayur Shetty),…