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Tada Shrine is First in Kansai to Go Bankrupt

HYOGO – Tada Shrine in Kawanishi, Hyogo Prefecture, has filed for protection under Japan’s Civil Rehabilitation Act, becoming the first shrine in the Kansai region and only the third nationwide to enter bankruptcy proceedings, according to Teikoku Databank. Financial problems surrounding the shrine began to surface around 2023. The following year, real estate pledged as…

IBBI Lists Warning Signs Of Misuse Of Bankruptcy Law

Mumbai: Close on the heels of the Subhash Chandra loan repayment controversy, the bankruptcy regulator-the Insolvency and Bankruptcy Board of India (IBBI) has issued a circular on Wednesday directing Insolvency Professionals (IPs) to remain vigilant regarding the potential misuse of the insolvency framework. The IBBI said that it has received information from law enforcement and…