This file photo shows a partially removed company logo of China Evergrande Group on the facade of its headquarters in Shenzhen, Guangdong province on Jan 10, 2022. (PHOTO / XINHUA) The Guangzhou Intermediate People’s Court on Friday granted a bank’s bankruptcy liquidation application for Evergrande Real Estate Group. Guangzhou Rural Commercial Bank’s Huaxia branch filed…
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The Insolvency and Bankruptcy Board of India’s (IBBI) latest discussion paper on fraudulent or malicious initiation of the Corporate Insolvency Resolution Process (CIRP) has placed a new responsibility on insolvency professionals (IPs) which includes identifying potential abuse of the insolvency process, conducting due diligence and, where warranted, approach the adjudicating authority under Sections 60(5) and…
Michael Sloan, Richard Fisher and Alex Chernishev of Ashurst Perkins Coie examine the Australian Government’s long-awaited response to the PJC’s corporate insolvency review, warning that while 25 of 28 recommendations are supported in principle, most substantive reforms have effectively been deferred to the Productivity Commission’s business dynamism inquiry and may not take effect before 2028.…
The NCLT rejected these arguments, holding that the substance and commercial effect of a transaction, rather than the label attached to it, determines whether it is financial debt. “The transaction, therefore, possesses all the essential attributes of a borrowing notwithstanding the terminology adopted by the parties,” the tribunal said. It added that the contractual clause…
REVEALED: Latest business liquidations in Dungog The Daily Telegraph Read the original article here
Aerial view of an Evergrande residential property in Nanjing, East China’s Jiangsu Province, on August 21, 2026. Photo: VCG The Guangzhou Intermediate People’s Court on Friday announced to accept the bankruptcy liquidation application filed by Huaxia sub-branch of Guangzhou Rural Commercial Bank Co Ltd against Chinese real estate developer Evergrande Group, a day after former…
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A court in southern China’s Guangdong province formally accepted a bankruptcy liquidation petition against China Evergrande Group’s main onshore unit, closing the final chapter in the unravelling of what was once the country’s largest property developer. The Guangzhou Intermediate People’s Court said on Friday that Guangzhou Rural Commercial Bank’s Huaxia branch met the legal criteria…