Dr. Phil ordered to liquidate media company after losing bankruptcy case with ‘no hope for rehabilitation’

A federal judge ordered that the bankruptcy case filed by Dr. Phil McGraw’s Merit Street Media be converted to a Chapter 7 liquidation, saying that the Trump-backing celebrity TV psychologist showed a lack of candor by deleting incriminating text messages that revealed a scheme to pay “favored creditors.” According to Bankruptcy Judge Scott Everett, “there…

Preference shareholders aren’t financial creditors under IBC, can’t initiate insolvency: Supreme Court

A Bench of Justices JB Pardiwala and KV Viswanathan dismissed an appeal filed by EPC Constructions India Ltd (in liquidation) against Matix Fertilizers and Chemicals Ltd, affirming the findings of the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) that the preference shares held by EPC represented an investment and not…

Horizon Space Approves Trust Liquidation Amendments

Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Horizon Space Acquisition I Corporation ( (HSPO) ) has provided an update. On October 27, 2025, Horizon Space Acquisition I Corp. held an extraordinary general meeting where…

NCLT Appoints Liquidator for Multicity Hospitalities LLP After CoC Votes to End Insolvency Process [Read Order]

The National Company Law Tribunal (NCLT), Principal Bench in New Delhi, has ordered the liquidation of Multicity Hospitalities LLP after the Committee of Creditors (CoC) voted to end the Corporate Insolvency Resolution Process (CIRP). The order was passed on an application filed by the Resolution Professional (RP), Mr. Shailesh Chandra Ojha, following the CoC’s decision.…