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, 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…
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…
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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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…
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.…
A Welsh businessman, who was made bankrupt nearly 20 years ago, has been jailed for more than four years after hiding £130,000 in assets, continuing to operate as a company director, and obtaining more than £100,000 in credit. Helim Miah ran Fresh ‘N’ Clean (Wales) Ltd until 2006, when he was made bankrupt owing £12.3…
NCLT Ahmedabad bench admits insolvency petitions against Blusmart Mobility MSN Read the original article here
Company insolvencies in England and Wales fall Just in: the number of companies in England and Wales falling into insolvency dropped last month. The Insolvency Service has reported that there were 2,043 registered company insolvencies in England and Wales in June, 8% lower than in May 2025 (2,230) and 16% lower than in June 2024,…