Mirziyoyev Outlines Major Reform of Insolvency System — UzDaily.uz

Bankruptcy

Tashkent, Uzbekistan (UzDaily.com) — President Shavkat Mirziyoyev reviewed a presentation on reforming the country’s insolvency framework and introducing new approaches to financially rehabilitate struggling enterprises. Uzbekistan has been steadily implementing measures to develop the private sector, support entrepreneurship, and create a more favorable business environment. As a result, the number of individual entrepreneurs has exceeded 300,000,…

Another airline declared bankrupt, all flights off

Bankruptcy

If an airline does not voluntarily file for bankruptcy, it can also lose its air operator’s certificate (AOC) over the state of its finances. In the U.S., the certificate that grants an airline permission to sell and run flights is given out by the Federal Aviation Administration (FAA) and requires the holder to prove that…

Personal guarantors to bankrupt firms will need to declare crypto holding, art collections in IBC proceedings

Bankruptcy

Promoters or directors who have provided surety for a stressed company’s debt will be required to declare their holdings of crypto, jewellery, works of art, high-end watches, beneficial ownerships and foreign assets, as part of reporting personal wealth during bankruptcy resolution, according to the draft regulations floated by the insolvency regulator. The personal guarantors to…

Smiths City owner declared bankrupt at High Court

Bankruptcy

The owner of collapsed large retailer Smiths City has been declared bankrupt. Colin Ashley Neal was adjudicated to be bankrupt by Justice Rob Osborne at the High Court at Christchurch just after 10am on April 1. Bankruptcy proceedings were called by Tower Rail Precinct Limited against Mr Neal over a breach of contract. His plight…

Another airline declared bankrupt, all flights off

Bankruptcy

If an airline does not voluntarily file for bankruptcy, it can also lose its air operator’s certificate (AOC) over the state of its finances. In the U.S., the certificate that grants an airline permission to sell and run flights is given out by the Federal Aviation Administration (FAA) and requires the holder to prove that…

Another airline declared bankrupt, all flights off

Bankruptcy

If an airline does not voluntarily file for bankruptcy, it can also lose its air operator’s certificate (AOC) over the state of its finances. In the U.S., the certificate that grants an airline permission to sell and run flights is given out by the Federal Aviation Administration (FAA) and requires the holder to prove that…

India’s IBC Reforms Struggle to Save Company Value

Bankruptcy

Value Preservation Remains a Challenge While India’s financial services sector shows strength with gross non-performing assets (NPAs) falling to 2.15% by September 2025 and the Nifty Financial Services Index gaining 15.5% in the first half of 2025, the Insolvency and Bankruptcy Code (IBC) continues to struggle with preserving company value. The IBC often favors debt…

Real Estate Insolvency Should Focus On Project-Wise Resolution, Not The Entire Company: NCLAT

Bankruptcy

Thank you for reading this post, don’t forget to subscribe! The NCLAT ruled that insolvency proceedings against Vatika Limited must be confined to a single real estate project, not the entire company. It emphasized a project-wise CIRP approach to protect homebuyers and unrelated stakeholders despite an established financial default. The National Company Law Appellate Tribunal…