German battery pioneer CustomCells has filed for insolvency proceedings for the group’s key operating entities located in Itzehoe and Tübingen, following court filings in Kiel. The holding company of the CustomCells Group is not affected by the insolvency filing at this time. Founded in 2012 and spun out of the German Fraunhofer Society, CustomCells established…
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The Department of Financial Services (DFS) has reviewed the Supreme Court order on the liquidation of Bhushan Power and Steel (BPSL), in consultation with the lenders, M Nagaraju, secretary, DFS said in Mumbai on Monday. “I have already reviewed (the order) with all the lenders. We have taken a position, we have studied the judgement,…
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German battery pioneer CustomCells has filed for insolvency proceedings for the group’s key operating entities located in Itzehoe and Tübingen. The competent court in Kiel has appointed attorney Dr. Malte Köster, a partner at the law firm WILLMERKÖSTER, as the preliminary insolvency administrator of the operating companies. WILLMERKÖSTER is one of the leading insolvency law…
On May 5, 2025, Siewert & Kau Computertechnik GmbH, based in Bergheim, filed for insolvency at Cologne Local Court. Lawyer Marion Rodine was appointed as the provisional insolvency administrator. The company’s online store and cloud marketplace were no longer available the week before the insolvency application was filed, leading to speculation about financial difficulties. In…
All insolvency professionals appreciate that Section 236 of the Insolvency Act 1986 (“s236”) grants significant investigatory powers to office-holders into a company’s business dealings, affairs and director conducts, including the power to obtain third-party records and information. As technology now largely replaces a company’s paper-based records, and has become an integral part of business operations,…
JSW Steel Sinks 7% in Two Days after SC Exposes Legal Cracks in BPSL Acquisition: Here’s what its all about outlookbusiness.com Read the original article here
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Summary: The Supreme Court invalidated JSW Steel’s acquisition of Bhushan Power and Steel, citing violations of India’s insolvency laws and significant procedural lapses. Introduction The Supreme Court of India recently delivered a significant judgment invalidating JSW Steel’s acquisition of Bhushan Power and Steel Limited (BPSL). It was a takeover that was completed in 2021. This…