Bergen, Norway, 03 April 2025 – Norwegian deep sea mining company, Loke Marine Minerals, owner of UK deep sea mining company, UK Seabed Resources (UKSR), has declared bankruptcy. Loke had dreams of becoming the world’s largest deep sea mining company, holding licenses in the Pacific as well as setting their eyes on the Arctic. Now,…
In a decisive verdict that underscores the sanctity of India’s insolvency framework, the Supreme Court on Friday quashed JSW Steel’s resolution plan for debt-laden Bhushan Power and Steel Ltd. (BPSL), citing gross violations of the Insolvency and Bankruptcy Code (IBC), 2016. The court ordered the immediate liquidation of BPSL, marking a significant setback for JSW…
London CNN — Harland & Wolff, the 163-year-old firm that built the Titanic, has declared itself insolvent after failing to secure funding to continue trading. The loss-making UK shipbuilder said Monday that it would likely begin administration proceedings in the coming days. Administration provides a way for companies in the United Kingdom to restructure when…
The Technical University of Kenya (TUK) has officially been declared financially insolvent by the National Assembly, as fresh revelations expose deep-rooted mismanagement and a staggering Sh12 billion debt burden that has crippled the institution. This comes amid shocking disclosures that no employee at TUK has received a full salary since 2013, the same year…
Part 1: A Broad Overview of Bankruptcy ‘As privileged professionals, who live by the words of the English language, lawyers have a special duty to be clear in what they say and write’[1] When discussing any area of law, precision is essential. A common source of confusion amongst both lawyers and the public generally is…
Bankrupt landlord received £25,000 Covid loan despite pub closing six months before pandemic MSN Read the original article here
A bankrupt landlord has been handed a suspended sentence after he “took advantage” of a taxpayer-backed Covid loan scheme by applying for tens of thousands of pounds – despite his pub closing before the pandemic. Gary Wright, 46, was given a £25,000 bounce-back loan on behalf of his Talbot Ale House in St Helens, Merseyside,…
The Supreme Court’s decision to liquidate Bhushan Power and Steel is likely to have an impact on the company’s lenders, led by State Bank of India (SBI) and Punjab National Bank (PNB), and the insolvency process. The SC order has cast a shadow on other bankruptcy cases as the total admitted claims under the Insolvency…
Wright received a £25,000 Covid loan to help him manage a pub that closed six months before the pandemic. Photo from May 2019. The pub is now under new management. – (Google Images) A bankrupt landlord has been handed a suspended sentence after he “took advantage” of a taxpayer-backed Covid loan scheme by applying for…
May 2, 2025 Photo: DutchNews.nl Dutch household goods retailer Blokker, which was declared bankrupt last year, is planning to reopen 30 to 40 shops in the Netherlands, sources have told business broadcaster RTL Z. Blokker was declared bankrupt almost six months ago. Four months later, businessman Roland Palmer bought the brand name in a bankruptcy…