Liberty Steel has called a High Court decision to send its speciality steel business into compulsory liquidation “irrational” and says it put forward plans to create a “sustainable operational platform.” Rothbiz reported this week that a judge has approved an application from creditors to place the business, ehich has operations in Rotherham and Stocksbridge, into…
UK’s third-largest steel producer pushed into compulsory liquidation MSN Read the original article here
British Indian tycoon’s Speciality Steels UK pushed into compulsory liquidation by the UK government. 1500 jobs at risk. London, Aug 21 (PTI) Speciality Steels UK, the country’s third-largest steelworks part of British Indian metals tycoon Sanjeev Gupta group, was on Thursday pushed into compulsory liquidation. The UK government-run Insolvency Service confirmed it will be acting…
The National Company Law Appellate Tribunal (NCLAT), Principal Bench in New Delhi, has dismissed two appeals filed by the Central Bank of India, upholding the orders of the Adjudicating Authority that approved a resolution plan for Neptune Developers Private Limited. The Central Bank of India had challenged two orders, dated January 21, 2025, and March…
One of the UK’s last remaining steel companies has been pushed into compulsory liquidation. Speciality Steels UK (SSUK), part of the Liberty Steel empire owned by metals tycoon Sanjeev Gupta, employs nearly 1,500 people at sites in Rotherham and several other locations across South Yorkshire. Behind Tata Steel and British Steel, it is the third-largest…
On 21 August 2025, a winding-up order was made against Speciality Steel UK Limited, and the court appointed the Official Receiver, Gareth Jonathan Allen, as Liquidator. Following an application made by the Official Receiver, the court has also appointed Matthew James Cowlishaw, Hywel Phillips and Robert Fishman of Teneo Financial Advisory Limited as Special Managers…
Gupta and his companies have struggled ever since their major funder, Greensill Capital, collapsed into insolvency in 2021. Since then, many GFG assets have been faced with insolvency proceedings initiated by creditors seeking to be repaid what they are owed, including various Greensill entities. An Australian steelworks owned by Gupta was taken over by the…
(Reuters) -Teneo said on Thursday it has acquired the Australia business restructuring services unit of auditing firm PwC, as the management consultancy seeks to expand its financial advisory presence in the region. Under the deal, about 80 members of PwC’s Australia business restructuring services team will join Teneo and will provide wide range of financial…
Delays in the admission process continue to be a challenge in the insolvency cases in India, said Ravi Mital, chairperson of the Insolvency and Bankruptcy Board of India (IBBI) on Thursday. He stated that a new framework being planned is aimed at making resolution faster and more efficient without compromising the rights of stakeholders. “The…
Liquidation starts for company run by fatal Dunkeswell skydiving business director Totnes Times Read the original article here