Category Archives: Bankruptcy

IBBI Disciplinary Committee Holds Resolution Professional Unauthorisedly Reconstited CoC & Filed Misleading Affidavits in Byju’s Parent Company CIRP [Read Order]

The Insolvency and Bankruptcy Board of India’s Disciplinary Committee (DC) has found that resolution professional acted without authority by reconstituting of committee of creditors (CoC) during the Corporate Insolvency Resolution Process (CIRP) of Byju’s parent company, Think and Learn Private Limited and also found that he filed misleading affidavits before the adjudicating authority. The matter…

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First Brands Parts Bankruptcy Could Become A Hot Mess For Ford

By Brett T. Evans General Motors isn’t the only major OEM to be concerned about the ongoing First Brands bankruptcy struggle. Following news that the automaker held an urgent supplier meeting last month over the snafu, its cross-town rival Ford is apparently doing all it can to mitigate any potential parts shortages and manufacturing woes that…

Manroland Sheetfed enters insolvency proceedings

Manroland Sheetfed, a German producer of sheetfed litho printing presses, has announced it has entered into ‘Schutzschirmverfahren’, which means protective shield proceedings. In an official statement the company has described itself as “the beleaguered German press builder”, suggesting it is bracing itself and stakeholders for turbulent news and job losses. The company says it is…

Nacon delays its gaming showcase following filing for insolvency

The French company Nacon, known for both publishing and developing video games, has rescheduled its game event to May 2026. This change comes in the wake of the company filing for insolvency. The previously planned Nacon Connect showcase was set for March 4, but has been delayed to ensure that upcoming announcements have the desired…

When Insolvency Meets Public Purpose: The Legal Pathways Behind Healthscope’s Potential NFP Transformation

If you’ve been following recent news about Healthscope, you may be curious to know how the company’s potential transformation from private equity ownership to a not-for-profit (NFP) entity could be legally possible. This is my attempt to explain it in simple terms. There are three related structural factors that could make…

IBBI Disciplinary Committee Suspends Insolvency Professional’s Authorization for Six Months for Acting Without Valid AFA [Read Order]

The Insolvency and Bankruptcy Board of India’s Disciplinary Committee has ordered a six‑monthsuspension of the Authorisation for Assignment (AFA) of an insolvency professional, after finding that he accepted and acted on the Corporate Insolvency Resolution Process (CIRP) of a company without holding a valid authorisation. The matter arises from the CIRP of Suich Industries Limited,…

Property developer involved in some of York’s biggest schemes declared bankrupt | YorkMix

A businessman who was a key player in some of York’s most high-profile development schemes has been declared bankrupt. Paul James Ellis, 47, powered several key schemes forward through his companies, most notably North Star (York) Ltd. Mr Ellis, who lives in north west London, was declared bankrupt at the High Court Of Justice in…

number of companies declared bankrupt by sector 2020| Statista

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