By Harry Mottram: There’s a sense of panic in the boardrooms of Thames Water in their Reading headquarters as news that Andy Burnham is set to take charge of Downing Street. The privately owned utility is billions in debt with no hope of staving off insolvency and a public image that the Grim Reaper would be…
Introduction Of the three gateways into a Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016 – Sections 7, 9, and 10 – Section 10 stands apart as the only route where the corporate debtor itself pulls the trigger. Rather than waiting for a financial or operational creditor to move…
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That surge in DPN use is now drawing regulatory scrutiny of its own. The tax ombudsman’s review of how the ATO administers DPNs is scheduled to begin this month, examining cases including directors who were unaware of their personal liability or affected by illness. The review notes that the ATO issued more than 84,000 DPNs…
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Bavarian Textile Firm ZEGO Files for Insolvency Following Devastating Cyberattack A cyberattack has forced ZEGO Textilveredelungszentrum, a Bavarian textile-finishing company, to file for insolvency after suffering weeks of operational disruption and severe financial losses. The company says it intends to continue trading while pursuing restructuring efforts. According to managing director Johannes Zenglein, the attack, which…
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Jul 14, 2026 23:40:00 ZEGO Textilveredelungszentrum, a textile company in Bavaria, Germany, has filed for bankruptcy. The company was forced to halt production for approximately six weeks after suffering a cyberattack in March 2026, and was unable to recover the losses incurred. Wichtige Information – ZEGO Textilveredelungszentrum https://www.zego-tvz.com/wichtige-information/ ZEGO Textilveredelungszentrum: Insolvenz nach Cyberangriff | FAZhttps://www.faz.net/aktuell/wirtschaft/unternehmen/zego-textilveredelungszentrum-insolvenz-nach-cyberangriff-201010629.html…
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Mumbai: With a little help from BlackRock, the world’s largest asset manager, IPO-bound Udaan has struck a deal with a string of offshore lenders to avoid bankruptcy. Earlier this week, the internet commerce company reached an agreement to restructure its debt with its shareholders and global creditors who had initiated insolvency proceedings in the Singapore…