Public sector lenders led by Punjab National Bank (PNB) will soon file a review petition in the Supreme Court seeking a stay on the implementation of its recent judgement rejecting JSW Steel’s insolvency resolution plan for Bhushan Power and Steel (BPSL), and ordering the latter’s liquidation. “Banks will file the review petition as public money…
Harsh Vardhan, Senior Adviser at Bain & Company, has criticised the Supreme Court’s decision to liquidate Bhushan Power and Steel, calling it an excessive and commercially impractical remedy. “You have a ₹25,000 crore revenue asset, which is profitable, that you are going to put into liquidation. I mean, it makes very little commercial sense to…
Another firm linked to Dunfermline goes bust after £7.6m goes missing Dunfermline Press Read the original article here
The Supreme Court verdict is a setback to the resolution process | Photo Credit: lakshmiprasad S Can a judgment be correct in law, but nevertheless be wrong? The answer appears to be yes in the case of the Supreme Court’s recent judgment setting aside JSW Steel Ltd’s (JSW) resolution plan for the acquisition of Bhushan…
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Aussie booze giant collapses owing over $13m Herald Sun Read the original article here
The UK saw a modest decline in corporate insolvencies in 2024, offering a glimmer of hope for businesses grappling with ongoing economic pressures. Official figures from the Insolvency Service revealed 23,872 registered company insolvencies during the year—a 5% drop from the 25,163 cases recorded in 2023, which marked the highest annual total since 1993. Key…
Now is a good time to learn about this new legislation, says Andrew Taylor The Corporate Insolvency and Governance Bill will be the biggest reform of the UK’s restructuring and insolvency framework in more than 15 years. For the hospitality sector, it is welcome news, giving bars and restaurants some options to help them…
Construction firm insolvencies hit all-time high with 840 collapses in first four months of year business-live.co.uk Read the original article here
The Trump administration has introduced a controversial new program aimed at illegal immigrants, offering a $1,000 stipend and travel assistance for those who choose to voluntarily “self-deport” from the United States. Announced on May 5, 2025, by the Department of Homeland Security (DHS), this initiative is part of a broader strategy to expedite deportations and…