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Miner Lucapa Diamond Enters Administration

Lucapa Diamond, the Australian company that owns the Lulo mine in Angola and the Merlin mine in Western Australia, has gone into voluntary administration. The move came a week after Lucapa halted trading of its shares on the Australian Securities Exchange. KordaMentha Restructuring executives Richard Tucker and Paul Pracilio, who were appointed administrators for Lucapa,…

Insolvency framework amended to simplify compliance

NEW DELHI: The bankruptcy regulator has amended the framework for reporting the corporate insolvency resolution process (CIRP) to ease compliance burden without undermining effective oversight, according to a circular. Under the revised reporting framework, the existing nine forms will be compressed into five by removing duplication, streamlining data requirements and leveraging technology for auto-population of…

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Evonith Holdings acquires Topworth Urja

The Mumbai Bench of the National Company Law Tribunal (NCLT) has approved Rs 502-crore resolution plan submitted by Evonith Holdings Pvt. Ltd. for Topworth Urja & Metals Limited, marking a significant step in the corporate insolvency resolution process (CIRP) of the company. The order, pronounced on May 26, 2025, by a bench of Member (Judicial)…

‘Absolute disgrace,’ Hudson’s Bay workers denied severance amid company liquidation in Ontario

Workers from now-defunct Hudson’s Bay locations across Ontario are rallying against severance denials. A report by Unifor, a Canada-wide union, revealed that Hudson’s Bay staff represented by the group (some 600 workers) gathered in Toronto and Windsor yesterday to demand owed severance as the company’s liquidation nears completion. Due to a lack of support, union…

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Singing Waiters Pair Banned for Insolvent Payments

Frederick and Claire Reeves hired people who would burst into song at social events such as weddings The husband-and-wife allowed their company, Solfan1 Limited, to trade when they knew it was in serious financial trouble and on the verge of liquidation Couples continued to pay deposits or payments in full when Frederick and Claire Reeves…