What Lies Ahead for JP Associates Jaiprakash Associates entered the corporate insolvency resolution process last year. Its lenders include Axis Bank, State Bank of India, Yes Bank, Bank of Maharashtra, Canara Bank, Bank of Baroda, ICICI Bank, Indian Overseas Bank and IDBI Bank, among others. Read the original article here
Italian-inspired premium denim label Closed has filed for insolvency and placed a corresponding application with the Hamburg district court in Germany. Despite its financial difficulties, business operations are to continue unchanged. View of the Closed store in Osnabrück, one of its 26 retail locations in the German market. – Rüdiger Oberschür Hamburg-based lawyer Stefan Denkhaus from the…
In a recent case, the Ahmedabad Bench of the National Company Law Tribunal (NCLT) admitted the application for initiation of Corporate Insolvency Resolution Process (CIRP) by SBI against the Corporate Debtor for providing financial assistance of Rs.25.75 Cr. The Petition is filed by the Applicant- State Bank of India ( “Financial Creditor”) against the Respondent-…
People walk by a Claire’s store on December 11, 2024 in San Rafael, California. Justin Sullivan | Getty Images Tween retailer Claire’s filed for bankruptcy protection for the second time in seven years on Wednesday in the hopes it can reorganize its business and stave off liquidation. The mall-based boutique, long known for its ear…
Despite tens of millions of revenue, a $230,000 ransomware fee has seemingly taken out one of Germany’s leading insurance firms. As reported by Wa.de and Golem.de (via our friends at Tom’s Hardware), Einhaus Group was originally targeted back in 2023. Hacking group Royal reportedly told Einhaus Group founder Wilhelm Einhaus, “We’ve hacked you. All further…
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Australia is experiencing a sharp rise in business insolvencies, driven by cash-flow stress. More than 11,000 businesses entered external administration in FY 2023-24, a 39 per cent increase from the previous year and the highest number on record. By mid June 2025, the total number of insolvencies had reached 14,105. This surge is hitting small businesses…
SPAL are declared bankrupt due to €10 million debt, brand to be auctioned off Tribuna.com Read the original article here
The growing consciousness of the Indian Judiciary – IBC vs Slum Act Bar and Bench Read the original article here
Representative image created by AI NEW DELHI: The Competition Commission of India (CCI) on Tuesday approved Dalmia Bharat‘s proposal to acquire the debt-laden Jaiprakash Associates Ltd (JAL), which is going through the insolvency resolution process. Under the provision of the Insolvency and Bankruptcy Code (IBC), an approval from the competition watchdog is a key requirement…