First court action for identity verification offences brought by the Insolvency Service Three directors fined after failing to comply with requirements Convictions serve as a warning to directors: verify your identity or risk prosecution Directors are being warned to verify their identities with Companies House or risk prosecution after the Insolvency Service secured its first…
AI-GENERATED IMAGE The High Court’s decision to declare siblings Marianne Nyokabi Kamotho and David Waweru Kamotho bankrupt over unpaid legal fees has brought renewed attention to what bankruptcy means for an individual in Kenya. The siblings were facing outstanding legal fees of Sh4.83 million arising from a long-running dispute over the estate of their late…
Sanwaria Consumer FY26 Results: Net loss narrows to ₹281.5 lakh scanx.trade Read the original article here
German battery storage manufacturer RCT Power files for insolvency ESS News Read the original article here
German solar company BSH files for insolvency Renewables Now Read the original article here
By VP Singh For close to a decade, the defining bargain of the corporate insolvency resolution process (CIRP) under Chapter II of the Insolvency and Bankruptcy Code, 2016 has been a stark one. On admission of an application under Sections 7, 9 or Section 10, a moratorium descends and the Board of Directors stands suspended,…
HMRC files winding-up petition against Peterborough cleaning company Trending Now Infrastructure Read the original article here
Image used for representational purposes. File | Photo Credit: Reuters The story so far: The Enforcement Directorate (ED) has escalated scrutiny of alleged irregularities in proceedings under the Insolvency and Bankruptcy Code (IBC), instructing its zonal offices to examine cases involving disproportionately large haircuts through which promoters may have reacquired assets. At its 36th Quarterly…
Construction industry insolvencies last month were more than double the previous monthly high, hitting a record 941 in August as fallout from the collapse of Sydney residential developer Bathla swamped companies across the sector. While the high-profile failure of Bathla – a company with 2500 houses under construction – accounted for 542 of the insolvency…
RBI FAQ clarifies whether ARCs can compete with strategic buyers in IBC proceedings MUMBAI: RBI has cleared the way for smaller asset reconstruction companies (ARCs) to participate in insolvency proceedings as co-resolution applicants and acquire financial assets under a resolution plan without meeting the Rs 1,000-crore net owned fund (NOF) threshold otherwise prescribed for ARCs…