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…
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Danish insect ag co ENORM has been declared bankrupt after spending six months in a court-supervised restructuring process. ENORM, which raised €50 million ($57 million) from backers including Danish ag co-op DLG in 2022, opened a factory in Jutland in 2023 to supply the animal feed market with protein and oil from black soldier fly…
According to the National Bank of Ukraine’s press service NBU The Management Board of the National Bank of Ukraine has decided to classify JSC “RVS Bank” as insolvent. According to the regulator’s press service, the corresponding decision was published on 4 November 2025 under No. 398-rsh/BT. JSC “RVS Bank” has been classified as insolvent in…
American airline announces immediate shutdown after 66 years of service MSN Read the original article here
First Brands fallout spreads as German units file for insolvency Automotive News Read the original article here
FRANCE Nerguararian: When a business becomes strained in France, management should immediately set different priority levels. In the short term, directors must be extremely focused on the use and preservation of cash, given that cashflow insolvency is the key trigger of insolvency in France – debtors have 45 days upon becoming cashflow insolvent to file…
As the latest development in a trilogy of Court of Appeal rulings on restructuring plans under part 26A of the Companies Act 2006 – the first two being Strategic Value Capital Solutions Master Fund LP v AGPS Bondco plc (2024) and Kingston S.A.R.L. & Another v Thames Water Utilities Holdings & Ors (2025) – the…
Innovative automotive company files Chapter 7 bankruptcy TheStreet Read the original article here