Category Archives: Bankruptcy

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…

NCLT Rejects Insolvency Petition Against Gaudium IVF – scanx.trade

NCLT Rejects Insolvency Petition Against Gaudium IVF  scanx.trade Read the original article here

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.…

REVEALED: Liquidator appointments for businesses in the Moreton Bay council area for May 22 – The Courier Mail

REVEALED: Liquidator appointments for businesses in the Moreton Bay council area for May 22  The Courier Mail Read the original article here

Irish firms turn to restructuring to drive growth – Business Post

Irish firms turn to restructuring to drive growth  Business Post Read the original article here

10 American EV Startups Went Bankrupt, Proving Toyota’s Skepticism Justified

The electric car industry was, for a little while there, the new gold rush. It was relatively easy to get public or private funding for promising battery-powered vehicles like the Fisker Ocean, infrastructure support was growing, and investors were terrified of being left out of the next big thing. In retrospect, it’s obvious that this…

Reliance Communications to meet on May 29 for FY26 results – scanx.trade

Reliance Communications to meet on May 29 for FY26 results  scanx.trade Read the original article here

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…

DreiMeister Spezialitäten GmbH & Co. KG, a well-known German chocolate manufacturer, has gone bankrupt, affecting over 150 employees. – Informat.ro

DreiMeister Spezialitäten GmbH & Co. KG, a well-known German chocolate manufacturer, has gone bankrupt, affecting over 150 employees.  Informat.ro Read the original article here

Another airline files for bankruptcy protection and cancels all flights

While the collapse of Spirit Airlines is the most high-profile case, multiple small- and mid-size airlines have had to file for bankruptcy and in some cases shut down operations entirely since the start of the year. Earlier this week, Mexican low-cost carrier Magnicharters filed for bankruptcy protection in the First District Court for Bankruptcy Proceedings…