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Rescuing more, recovering less

The Insolvency and Bankruptcy Code, now in its 10th year, is perhaps India’s most consequential market reform for resolving corporate distress and reallocating resources from failed enterprises to more efficient hands. Since its inception, the code has resolved stress of more than 4,400 companies, rescuing around 1,400 through resolution plans and sending the rest into…

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Tongaat Hulett Gets Lifeline as Liquidation Threat Falls Away

South Africa’s Trade, Industry and Competition Minister Parks Tau has welcomed the withdrawal of liquidation proceedings against Tongaat Hulett, describing it as a major step toward protecting thousands of livelihoods tied to the company and the wider sugar industry. The decision removes the immediate threat facing one of the country’s most significant agro-industrial businesses.…