Insolvency: from crisis to reform | China

A slowing economy has exposed China’s insolvency regime as a system grappling with outdated legislation, growing cross-border complexities, and a cultural mindset reluctant to change. Yet, within these challenges lie opportunities for reform, writes Luna Jin In an ancient Chinese fable, the renowned physician Bian Que warns a ruler about a minor illness, only to…

Monthly Insolvency Statistics: February 2025

​After seasonal adjustment, the number of registered company insolvencies in England and Wales was 2,035 in February 2025, 3% higher than in January 2025 (1,978) but 7% lower than the same month in the previous year (2,188 in February 2024). Company insolvencies over the past year have been slightly lower than in 2023, which saw…

Manchester tech companies shut down for suspected monthly direct debit scam | Insolvency Service

Consumers appeared to be signed up for monthly payments without their consent. Concerns were raised that tech companies Affinity Technology Solutions Limited and RCSR Tech Limited were operating a direct debit scam  Monthly payments of around £30 were made without customers’ knowledge or permission, complainants said  Both companies have now been shut down in court…

Manchester tech companies shut down for suspected monthly direct debit scam | Insolvency Service

Consumers appeared to be signed up for monthly payments without their consent. Concerns were raised that tech companies Affinity Technology Solutions Limited and RCSR Tech Limited were operating a direct debit scam  Monthly payments of around £30 were made without customers’ knowledge or permission, complainants said  Both companies have now been shut down in court…

Force Majeure doesn’t absolve Corporate Debtor from contractual obligations; NCLT directs initiation of CIRP against Corporate Debtor

National Company Law Tribunal, Chennai: In an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, a Division Bench of Sanjiv Jain (Judicial Member) and Venkataraman Subramaniam (Technical Member), admitted the Section 7 IBC application and initiated the…