CHENNAI: Shares of Borosil Renewables Ltd., jumped 4.30% to Rs 518.50 a unit on Monday (July 7) at 10.56 AM, following the announcement that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency in a German court. The move follows months of operational challenges. GMB had cooled down its furnaces in January 2025…
The administrator of failed retailer Mosaic Brands has raised the possibility that the company was trading while insolvent as far back as five years ago. Mosaic, once one of the biggest ASX-listed clothing retailers, collapsed last year, with FTI Consulting appointed as administrators. The company operated clothing chains including Katies, Millers, Noni B and Rivers,…
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New Delhi: The National Company Law Appellate Tribunal (NCLAT) has ruled that the Insolvency and Bankruptcy Code (IBC) does not supersede the Prevention of Money Laundering Act (PMLA), stating that assets attached by the Enforcement Directorate (ED) and confirmed by the competent authority cannot be released for the purpose of insolvency resolution. The three-member bench…
South Korean crypto yield platform Haru Invest, implicated in a $1 billion fraud, has officially been declared bankrupt by the Seoul Rehabilitation Court, as per a local news report. Haru Invest, operated by Haru Management Limited, lured over 16,000 investors by guaranteeing principal safety and offering lucrative returns on crypto deposits. However, the scheme unraveled…
Former Putin challenger is declared bankrupt by Russian court Global Banking | Finance | Review Read the original article here
Quashing of insolvency order sought: NCLAT likely to decide on Ansal API homebuyers’ plea today Hindustan Times Read the original article here
Michelle Lim, granddaughter of disgraced Singapore oil tycoon Lim Oon Kuin (O.K. Lim), has failed to convince the court that three insurance policies under her name, valued at SGD521,000 (US$409,000), should be excluded from her father’s bankruptcy estate. High Court Judicial Commissioner Mohamed Faizal has rejected Michelle Lim’s application for a declaration that the three…
Borosil Renewables has moved to exit its German solar glass business, with its step-down subsidiary GMB Glasmanufaktur Brandenburg GmbH filing for insolvency, as the company shifts focus to the fast-growing Indian solar glass market.In a regulatory filing, Borosil said GMB has applied for the commencement of insolvency proceedings before the Insolvency Court in Cottbus, Germany,…
Following a court application filed by Skillpro Malta Ltd (the ‘company’), on February 26, 2025, the Civil Court Commercial Section (‘court’) acceded to the company’s request to enter the preventative restructuring procedure as set out in the Pre-Insolvency Act (Chapter 631 of the Laws of Malta, and hereinafter referred to as the ‘Act’). This not…