Retail empire of UK billionaire Philip Green teeters on edge – The Australian Financial Review

Arcadia’s administration would be the UK’s highest-profile retail insolvency in a sector that has already lost more than 125,000 roles in the country since January. It would also mark a stratospheric fall from grace for Sir Philip, who was once dubbed “King of the High Street”. Arcadia would follow Debenhams, the struggling department-store retailer, which…

Explained: Why is the issue of personal guarantors under IBC in SC? – The Indian Express

Written by Aashish Aryan , Edited by Explained Desk | New Delhi | Updated: November 2, 2020 6:52:26 pm The Supreme Court on Friday transferred to itself all the petitions challenging the Insolvency and Bankruptcy Code (IBC) provisions relating to initiation of insolvency proceedings against personal guarantors. The Supreme Court on Friday transferred to itself…

Pre-packaged: Viable route to insolvency – Economic Times

The Insolvency and Bankruptcy Boards proposal to allow companies to withdraw from the process of voluntary liquidation is pragmatic. It will facilitate revival. This also makes the case for a pre-packaged insolvency resolution all the more compelling. Pre-packs entail a debtor-initiated reorganisation plan beforehand with creditors on board instead of a financial bidding process for…