Rising costs and ongoing economic and political uncertainty are continuing to drive corporate insolvencies upward, while an increasing number of local entrepreneurs are seeking insolvency and restructuring advice and considering the future of their businesses. This is according to the Midlands branch of the UK’s insolvency and restructuring trade body R3 and comes on the…
Interim Resolution Professional Can Take Possession of Assets Owned by Corporate Debtor: NCLAT Taxscan Read the original article here
The Indian Renewable Energy Development Agency Ltd (IREDA) has filed an insolvency application against Gensol Engineering Ltd, citing a default of ₹510 crore. The state-owned green energy financier submitted the application on Wednesday under Section 7 of the Insolvency and Bankruptcy Code, 2016, according to a stock exchange filing. Section 7 of the IBC empowers…
KTM Narrowly Avoids Liquidation Thanks To €600M Lifeline ADV Pulse Read the original article here
The National Company Law Tribunal (NCLT), New Delhi Bench (Court-VI), has admitted an insolvency petition against M/s Pashupati Dairies Private Limited, initiating the Corporate Insolvency Resolution Process (CIRP) on May 19, 2025. The petition, filed by Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeks to recover a default amount…
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R3 responds to April 2025 insolvency statistics NationalWorld Read the original article here