The another significant amendment is shifting the Competition Commission of India (CCI) approval timeline — allowing the CoC to approve a plan without waiting for prior CCI approval. This means only the successful resolution applicant will need to secure CCI clearance post-CoC approval. Under the current framework, all prospective resolution applicants are required to obtain CCI…
Mosaic Brands in liquidation after a year of attrition for fashion icons that stood the test of time Business News Australia Read the original article here
By Alex Wittenberg · August 12, 2025, 1:30 PM EDT A Delaware bankruptcy judge on Tuesday approved Joonko Diversity Inc.’s Chapter 11 liquidation plan after the debtor resolved objections from shareholders and others, letting the artificial intelligence-powered recruitment firm wind down… To view the full article, register now. Read the original article here
The Bill outlines a creditor-led, largely out-of-court insolvency process for quick rescue, faster tribunal timelines, a new framework for group insolvencies and cross-border bankruptcies, and clearer rules on the priority of government dues. It also marks a big departure from the current regime by allowing management of bankrupt companies to continue running day-to-day operations under…
New Delhi, Aug 12 (PTI) The government on Tuesday introduced a bill in the Lok Sabha to amend the insolvency law, proposing a raft of amendments, including an out-of-court mechanism to address genuine business failures, group and cross-border insolvency frameworks. Besides, provisions have been proposed to reduce the time taken for admission of insolvency resolution…
Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday introduced a bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code, 2016. The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 has been referred to a select committee, which will make a report by the first day of the Winter Session of the Parliament. The…
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Liquidators of China Evergrande Group – the world’s most indebted property developer – said on Tuesday they have sold about $255 million of its assets. After a year and a half of China’s largest debt liquidation process, the liquidators said in a filing that they have taken control of more than 100 of the…
Debts of nearly £30m likely to be unpaid William Telford Business Editor 14:50, 12 Aug 2025 Burrington Estates’ Maer View housing development in Bude, Cornwall(Image: Google) A major Devon-based housebuilder has gone bust with debts of nearly £30m likely to be unpaid. Exeter-headquartered Burrington Estates Group Ltd has entered liquidation with creditors given until the…
Finance Minister Nirmala Sitharaman on Tuesday (August 12) introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the Lok Sabha, aiming to make the corporate insolvency framework faster, more efficient, and aligned with global best practices. The Bill has been referred to a select committee of Parliament for further examination, following a request from…