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…
Melb builder forced into liquidation amid claims of defective works Herald Sun Read the original article here
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[HONG KONG] Liquidators of China Evergrande Group said on Tuesday (Aug 12) they have sold about US$255 million of its assets 18 months into China’s largest debt liquidation process and taken control of more than 100 of the company’s subsidiaries. They have received creditor claims totalling US$45 billion, the liquidators said in a filing, significantly…