Saasa Musa Sugar Works Private Limited, a company undergoing liquidation under the IBC, is set to be sold as a “going concern” through an e-auction at a reserve price of Rs 92.25 crore. The company, which operates a sugar mill in Bihar, was ordered into liquidation by the National Company Law Tribunal (NCLT), Kolkata Bench,…
Debt-laden Jaypee Cement Corporation Limited (JCCL) has formally invited bids for its revival, kicking off a corporate insolvency resolution process (CIRP) that could reshape India’s cement sector. The resolution professional (RP) issued a detailed Expression of Interest (EoI) notice today, offering the company’s 1.2 million-tonne cement capacity and allied assets to potential investors. Key Assets on Offer…
An expert committee with the Insolvency and Bankruptcy Board of India (IBBI) has proposed a new set of rules to avoid duplication of action against the erring insolvency professionals (IPs). In a report, the committee noted that parallel disciplinary actions by both IBBI and insolvency professional agencies (IPAs) for similar contraventions can be avoided, by…
The news: Financially distressed coal producer Bowen Coking Coal has appointed voluntary administrators from McGrathNicol Restructuring after it was unable to pay its two largest creditors BUMA Australia and the Queensland Revenue Office. The numbers: Bowen previously told the market it was not in a position to pay BUMA’s total claims of $29.3 million and…
Corio Bay Dairy Group liquidator claws back $555k from creditor The Courier Mail Read the original article here
Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales decreased by 8.4% to a total of 2,043 in June compared to May 2025’s total of 2,230, and decreased by 15.9% compared to June 2024’s figure of 2,430. The business insolvencies consisted of 332 compulsory liquidations,…
FTS Recovery has promoted corporate insolvency specialist Rachel Ennis to associate director, where she will head up a new centralised team of insolvency and recovery advisers across the Midlands. Rachel has worked for FTS Recovery and its affiliated company FA Simms & Partners for five years, most recently as recovery manager, overseeing corporate insolvency cases…
‘I feel terrible’: Failed company owes $30m – including millions to shareholder’s family Stuff Read the original article here
International legal practice Osborne Clarke has advised on the compulsory liquidation of a major national supplier of healthcare equipment. Special managers, from PwC, have also been appointed to enable the company to continue to trade, notwithstanding the liquidation. NRS Healthcare is the largest supplier of equipment such as wheelchairs, hoists, specialist beds and pendants that…
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