Desktop Metal Files Bankruptcy After Lawyers Demand Unpaid Fees – Bloomberg
Desktop Metal Files Bankruptcy After Lawyers Demand Unpaid Fees Bloomberg Read the original article here
Small business restructure approval rates decline as ATO shows its tough side – SmartCompany
Small business restructure approval rates decline as ATO shows its tough side SmartCompany Read the original article here
Supreme Housing exits insolvency after reaching settlement with top lenders
An insolvency court in Mumbai allowed Supreme Housing and Hospitality Pvt Ltd to exit insolvency proceedings on Wednesday after it reach a settlement with lender ICICI Bank. A detailed order on the matter is awaited. Canara Bank and ICICI Bank had taken Supreme Housing to insolvency court after the realtor defaulted on dues of more…
$27M later, food-tech startup InnovoPro enters insolvency proceedings
The Central District Court granted food tech company InnovoPro’s request on Monday to initiate insolvency proceedings after it accumulated debts totaling approximately 6.8 million shekels (around $2 million). Judge Merav Ben-Ari also appointed Attorney Gonen Kestenbaum as a temporary trustee. The court further issued an order prohibiting the company from repaying previous debts and froze…
Helrom defiant as insolvency clouds boardroom turbulence ‣ WorldCargo News
Helrom, the European pioneers of a side‑loading rail trailer for trucks, is defiant in the face of widely reported difficulties in the boardroom. The company has posted videos of its trains still running, despite reports that the company is in financial difficulties. The company’s Director of Sales, Bruno Weissmann, says Helrom remains on track and…
BYJU’s Founder Escalates Public Attack, Calls Out “Corporate Raid”
Exactly one year since Think & Learn Pvt.—the operating entity of India’s flagship edtech company BYJU’s—entered insolvency proceedings, founder Byju Raveendran stepped up his public rhetoric. In a rare and searing LinkedIn post dated July 29, 2025, he accused a group of secondary debt buyers of orchestrating what he calls a “hostile takeover”—not due to…
Legal developments on restructuring & insolvency
Frameworks focused on restructuring companies in distress are becoming more transparent in Singapore and Taiwan Singapore’s insolvency and restructuring developments Singapore’s omnibus Insolvency, Restructuring and Dissolution Act, 2018 (IRDA), came into effect on 30 July 2020 and amalgamated its corporate and personal insolvency processes, which were previously in separate statutes. The IRDA also incorporated the…
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NCLT orders liquidation of Venus Garments
The National Company Law Tribunal (NCLT), Chandigarh Bench, has ordered the liquidation of debt-ridden textile manufacturer Venus Garments (India) Limited (VGIL), bringing an end to the company’s Corporate Insolvency Resolution Process (CIRP) that began in 2022. The ruling, delivered on July 22, 2025, dismissed a last-ditch effort by the company’s promoter to invite fresh bids…
Record number of companies are in critical financial distress
A record number of companies are in “critical financial distress according to latest Red Flag Alert data, which shows that there are 49,309 firms on the brink of insolvency. The figures mark a 21.4% increase from a year ago. All 22 sectors surveyed reported a rise in ‘critical’ financial distress over the previous 12 months.…