Recent case law developments in Singapore’s restructuring and insolvency laws show balancing between pro-rehabilitation policies and pro-creditor policies | Latin America | Global law firm

Bankruptcy

Singapore continues to develop its status as an upcoming international hub for debt restructuring. The nation-state updated and strengthened its restructuring and insolvency laws in recent years, primarily through enacting the omnibus Insolvency, Restructuring and Dissolution Act 2018 (IRDA) and incorporating the UNCITRAL Model Law on Cross-Border Insolvency (the Model Law) into Singapore law. The…

The new Corporate Insolvency and Governance Act: Implications for the energy and infrastructure sectors | Latin America | Global law firm

Bankruptcy

Introduction The Corporate Insolvency and Governance Act 2020 (the “Act”) came into force in June 2020. It introduced a number of temporary and permanent measures to restructuring and insolvency law which will affect creditors’ rights in the UK. The overarching objective of the Act is to promote the rescue of companies in financial…

Insolvency and Bankruptcy Code (IBC)

Bankruptcy

SC clears JSW Steel’s $2.3B (₹19,350 cr) acquisition of Bhushan Power & Steel under Insolvency and Bankruptcy Code, 2016. Insolvency and Bankruptcy Code (IBC) Latest News The Supreme Court of India has approved JSW Steel’s $2.3 billion (₹19,350 crore) acquisition of Bhushan Power and Steel (BPSL), reversing its earlier decision of liquidation.  This judgment strengthens…

UK Corporate Insolvency and Governance Act 2020: A more debtor-friendly restructuring regime? | Latin America | Global law firm

Bankruptcy

Introduction The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following…

The ‘false comfort’ of extended temporary insolvency law measures and the need for deeper structural reform | Latin America | Global law firm

Bankruptcy

Many businesses and industry groups are currently advocating for the Treasurer to extend the temporary six month exemption from insolvent trading liability for directors – due to expire on 25 September 2020 – and to also adopt other interim relief measures such as a prohibition on liquidators recovering unfair preference payments to creditors. It had…

INSCO completes acquisition of Hindustan National Glass & Industries under IBC process

Bankruptcy

Independent Sugar Corporation Limited (INSCO), a part of Uganda-based Madhvani Group, said it had completed the acquisition of Hindustan National Glass & Industries Limited (HNGIL), a container glass manufacturer, through the Insolvency and Bankruptcy Code (IBC) process. On Friday (September 26, 2025), in a duly convened meeting of HNGIL’s newly constituted board, the company formally…

INSCO completes acquisition of HNGIL under IBC process- The Week

Bankruptcy

New Delhi, Sep 27 (PTI) Independent Sugar Corporation, an Uganda-based Madhvani Group firm, has announced the completion of its acquisition of debt-ridden glass manufacturer Hindustan National Glass & Industries through the Insolvency and Bankruptcy Code process.    On Friday, in a duly convened meeting of Hindustan National Glass & Industries Limited’s (HNGIL) newly constituted board, the company…