A Special Bench of the Supreme Court headed by Chief Justice of India B.R. Gavai on Thursday began hearing a review of a May 2 verdict of the court, which rejected a resolution plan submitted by JSW Steel for Bhushan Power and Steel Ltd (BPSL). The apex court judgment had further ordered the liquidation of…
California Start-Up Will Buy Assets of Bankrupt Swedish Battery Maker The New York Times Read the original article here
In its May 2 judgment, a Bench of Justices Bela M Trivedi and Satish Chandra Sharma had held that the CoC erred in approving JSW Steel’s resolution plan for BPSL. The Court declared the plan illegal and ordered BPSL’s liquidation using its inherent powers under Article 142 of the Constitution of India. JSW Steel, which…
U.S. Social Security Administration Commissioner Frank Bisignano explains why Social Security funds may run out sooner than anticipated on Mornings with Maria. The top actuary for Social Security’s trust funds on Tuesday confirmed that the insolvency date of those funds has moved up due to the recently-enacted tax and spending package, leaving policymakers with a little…
Over the 12 months ending June 30, consumer filings were up 4.9% compared to the prior year with Ontario (13,292) and Quebec (8,372) accounting for nearly two-thirds of all filings in the quarter. But the sharpest increases came from smaller provinces as Newfoundland and Labrador led the country with a 20.2% year-over-year jump in filings,…
UK Insolvency Service: new broader role to fight economic crime Taylor Wessing Read the original article here
A Staffordshire businessman who sold seven historic cars, including two Jaguars and three Rolls-Royces, for just £1 to another company he also controlled has been banned as a director. Kulbarg Singh, 62, was the director of Aldridge Construction Engineering Ltd when he entered into an asset purchase agreement with Ace Earth Solutions Ltd in 2021.…
Yes Bank has withdrawn its appeal before the Supreme Court regarding the insolvency allegations against Essel Group’s Zee Learn on August 6. The bank had claimed a default of ₹468.99 crore against the company in 2023. On Tuesday, Yes Bank said it wanted to drop the court proceedings on the matter. “The Counsel for the…
A criminal investigation is now underway following the collapse of Monegasque travel agency Star Croisières, which has been officially declared bankrupt by a Monaco court after leaving hundreds of holidaymakers out of pocket. Judges delivered their ruling on Tuesday 5th August, placing the company into official cessation of payments and setting the insolvency date provisionally…
Section 213 liability does not rest exclusively with directors or those managing the insolvent business The recent UK Supreme Court judgment in Bilta (UK) Ltd (in liquidation) and others v Tradition Financial Services Ltd [2025] upheld the Court of Appeal’s broad interpretation of section 213 of the Insolvency Act 1986, deciding that its scope is…