India’s urban economy relies heavily on them. Delivery riders weave through traffic, couriers move parcels and drivers ferry passengers, all on behalf of digital platforms that call them ‘partners,’ yet treat them as anything but. If a platform collapses, gig workers may discover that their place in the insolvency queue is right at the end,…
The National Company Law Tribunal (NCLT), an ambitious project of the Ministry of Corporate Affairs (MCA) under the leadership of the Hon’ble Prime Minister, is one of the most important forums for the adjudication of disputes under the Companies Act, 2013, and resolution of corporate debt issues under the Insolvency and Bankruptcy Code, 2016. During…
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The National Company Law Tribunal (NCLT), Cuttack Bench, has admitted liquor manufacturer Fortune Spirit Limited into the Corporate Insolvency Resolution Process (CIRP) on a petition filed by IDBI Bank to recover dues of over ₹18.5 crore. The bench of Member Technical Banwari Lal Meena and Member Judicial Deep Chandra Joshi appointed Mr. Sambhulal Agarwal as…
NTC Global Trade was placed in provisional liquidation last week by Judge Sulet Potterill of the Pretoria High Court, just days after Kurt Knoop resigned as business rescue practitioner (BRP) of the firm, citing death threats. The court ruling also came shortly after Knoop’s colleague and attorney, Bouwer van Niekerk, was gunned down by assassins…
A gold trading business owned by a controversial local government figure has been put into insolvency, and liquidators are warning it doesn’t have enough gold and silver bullion to cover debts. Liquidators were appointed to Guardians of Gold Limited in late August by its director and owner Andrew Hollis, due to concerns about its ongoing…
The bourbon industry, long considered one of America’s most resilient markets, is facing a sobering reality: bankruptcies are sweeping through distilleries as demand falters and international trade challenges mount. In just the past few months, three prominent bourbon makers have filed for bankruptcy protection, while others in the spirits industry have shuttered their doors entirely.…
TEMPO.CO, Jakarta – Indonesia’s Financial Services Authority (OJK) has revoked the business permits of three banks in Indonesia, consisting of rural credit banks (BPR) and sharia rural credit banks (BPRS), as of August 2025. The banks were declared bankrupt after failing to implement recovery measures recommended by OJK. Most of the bankrupt institutions were BPRs, with…
In a landmark judgment with far-reaching implications for India’s real estate sector, the Supreme Court has firmly distinguished between genuine homebuyers and “speculative investors,” ruling that the Insolvency and Bankruptcy Code (IBC) cannot be misused as a recovery tool by those seeking lucrative returns without any intention of owning a home. A bench of Justices…