Steelworks administrator flunks exam, has license pulled – Eng.Lsm.lv

The endless trials and tragic tribulations of Liepja’s shuttered KVV Liepajas Metalurgs steelworks are continuing with news that the insolvency administrator supposed to be taking care of the company’s assets has lost his license after flunking a re-certification exam, the LETA news agency reported March 9. Guntars Koris told LETA that he lost his license on March 1 because…

Tata Steel closes in on Bhushan Steel after emerging as the highest bidder – Business Today

One of the country’s biggest bankruptcies to go under the hammer is finally moving towards closure. Yesterday, Tata Steel said that “it has received a formal communication from the resolution professional [RP] of Bhushan Steel Ltd that it has been identified as the highest evaluated compliant resolution applicant to acquire controlling stake” of the beleaguered…

Stressed power generations firms face tough insolvency journey in court – Business Standard

The chances of stressed power generation units landing in the insolvency court have increased after the Reserve Bank of India revised last month its framework for the resolution of non-performing assets. A more worrying aspect, according to sector analysts, is that these assets totalling more than 80,000 megawatts across operational and under-construction projects may…