The National Company Law Tribunal (NCLT), held that the petition filed by IDBI Bank was within the period of limitation, as the Corporate Debtor had acknowledged the debt in its audited balance sheets for multiple financial years. Each such acknowledgment, under Section 18 of the Limitation Act, 1963, was construed to have extended the limitation…
Pub insolvencies saw a marked increase during Q2 and Q3 of 2025, reversing a tentative recovery seen earlier this year. According to accountancy firm Price Bailey, 219 pubs entered insolvency in Q2, followed by 189 in Q3. Q1 saw 161 establishments not able to pay their debts. 84 pubs become insolvent in June, the highest…
Aussie electric ute company goes bust, leaving behind 13 Rivian R1Ts drive.com.au Read the original article here
The outcome of several judicial reorganisations in Brazil since the enactment of Law 11,101/2005,known as the Brazilian Bankruptcy Law, where equity holders received better treatment than would be expected in a similar proceeding if it was conducted in another jurisdiction (typically, in the United States) raised a question about the power of shareholders in Brazilian…
On November 4, 2025, the Board of the National Bank of Ukraine decided to classify JSC “RVS Bank” as insolvent. This step was prompted by the bank’s failure to comply with the National Bank’s requirements to submit a revised financial recovery plan, risky operations that threaten creditors and depositors, and the lack of measures to…
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Bankrupt auto parts maker First Brands has filed a lawsuit against its former CEO and founder, Patrick James, accusing him of financial fraud that plunged the company into insolvency. The legal action, filed with the U.S. Bankruptcy Court for the Southern District of Texas, claims James misappropriated vast sums for personal gain. A representative…
The Bombay High Court has said that directors of a company are still accountable for penalties and criminal proceedings under the Negotiable Instruments Act of 1881 even if their company’s debts have been settled under the Insolvency And Bankruptcy Code, 2016. This ruling came in the light of a case filed by a person who…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…