By Lucia Osborne-Crowley ( February 19, 2025, 10:15 AM GMT) — The U.K. Supreme Court ruled Wednesday that a businessman’s family cannot avoid a £19 million ($24 million) debt to a UAE bank, finding that insolvency law can prevent a transaction by a company owned by the family because it was intended to put assets beyond…
(Bloomberg) — EFishery Pte is eliminating more than 1,000 jobs, or about 90% of the workforce, as the Indonesian agritech company suspected of fraud weighs a potential liquidation. Most Read from Bloomberg The cuts began recently and more reductions are set to follow, people familiar with the matter said, asking not to be identified as…
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Keppel Completes Liquidation of Four Subsidiaries TipRanks Read the original article here
Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales in January 2025 was 1,971, 6% higher than in December 2024 (1,852) and 11% higher than the same month in the previous year (1,780). The business insolvencies consisted of 269 compulsory liquidations, 1,546 creditors’ voluntary liquidations…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Barun Mitra (Technical Member) has held that approval of a resolution plan containing a clause that creditors can take appropriate actions in relation to corporate/personal guarantee cannot be interfered with. Brief Facts: State Bank of India filed…
ManufacturingDeals Listed Gateshead firm Zytronic is to wind down operations after considering several options including solvent liquidation or a sale following a strategic review. A manufacturer of touch overlay sensors for interactive displays dating back to the 1940s, Zytronic employs more than 100 people. It appointed a new chair in 2023 in a bid to…
The South Australian government has forced the Whyalla steelworks into administration as it attempts to resolve the crisis at the embattled site. Changes to the Whyalla Steel Works Act were rushed through both houses of state parliament on Wednesday morning, before being signed off by the SA Governor. The steelworks, which is owned by GFG…
It took just minutes for surprise laws to be introduced to Parliament and pass both houses giving the state government the power to place the Whyalla Steelworks into administration. This deft procedure was necessary to not alarm GFG Alliance owner and billionaire industrialist Sanjeev Gupta to the government’s long-awaited action on the struggling steel plant.…
Collapsed home builder in liquidation Daily Telegraph Read the original article here