The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, tabled in Parliament, seeks to overhaul the IBC framework with provisions for creditor-initiated insolvency, domestic group insolvency, cross-border proceedings, and faster resolution timelines. To address long delays, currently averaging over 434 days versus the mandated 14, the Bill amends Section 7 to ensure financial creditor applications are…
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, tabled in Parliament, seeks to overhaul the IBC framework with provisions for creditor-initiated insolvency, domestic group insolvency, cross-border proceedings, and faster resolution timelines. To address long delays, currently averaging over 434 days versus the mandated 14, the Bill amends Section 7 to ensure financial creditor applications are…
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Evergrande faces delisting as creditors demand repayment amid liquidation orders – CHOSUNBIZ Chosun Biz Read the original article here
Former MyBucks SA CEO David van Niekerk claims the provisional liquidation of Ecsponent, the previously JSE-listed company now renamed Afristrat, appears to be an attempt to rewrite history and misattribute responsibility for the group’s dire financial situation. Van Niekerk said the underlying issue remains the actions of Afristrat CEO George Manyere, “not only as a…
Finance Minister Nirmala Sitharaman on Tuesday introduced Bankruptcy Code Amendment Bill, 2025 to amend the Insolvency and Bankruptcy Code, 2016. The bill has proposed multiple changes to fast-track the insolvency proceedings in the country. The amendments proposed pertain to curbing delays by empowering creditors to initiate insolvency process outside of court in case of genuine…
[SINGAPORE] A total of 466 luxury items and 58 pieces of gold bars from the S$3 billion money laundering case have been handed over by the police to professional services firm Deloitte to manage and liquidate. They include Patek Philippe and Richard Mille watches, multiple diamond-encrusted jewellery, Hermes and Louis Vuitton handbags. The gold bars…
An Australian trucking company has gone into liquidation after almost 60 years in business. DJK Transport entered voluntary liquidation on Friday, after a restructuring practitioner was appointed in June. The business is listed as being based out of Austral in southwestern Sydney, and according to its website, has been a “trusted transport service since 1968”…
Union Finance Minister Nirmala Sitharaman speaks in Lok Sabha during the Monsoon Session of Parliament, in New Delhi on Tuesday. (Sansad TV/ANI Video Grab) NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday introduced amendments to the Insolvency and Bankruptcy Code (IBC), aimed at making the law more effective and speed up the process, while proposing…
Tim Gordon Corrs Chambers Westgarth has hired Tim Gordon as a partner in its corporate practice in Sydney to focus on M&A transactions for listed companies, and Australian and international private equity funds, sovereign funds, multi-platform alternative asset managers and superannuation funds. “We expect Tim to focus on coverage for global PE, domestic and international…