First Brands is already winding down North American operations of its Brake Parts, Cardone and Autolite units after failing to secure funding or find buyers for them. (Nick Oxford/Bloomberg) February 13, 2026 2:30 PM, EST Key Takeaways: First Brands is considering Chapter 7 liquidation for some units as cash shortages intensify. Mediation continues over collateral…
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Sugar, security splice, and splitting off everything nice: How Tongaat’s rescue failed News24 Read the original article here
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After the Herald sent questions, Wallace pulled personal profiles and for-sale listings by Prakash, Prasad and a third staff member from its website. Wallace Real Estate chief executive Luke Nutting said he took the tax authorities’ allegations “extremely seriously” and was “disappointed” to only recently learn the “severity of the situation”. “Staff recently hired by…
Why Barbeques Galore went bust News.com.au Read the original article here
The Supreme Court held that the pendency of a counterclaim for damages against a financial creditor does not operate as a legal bar to the initiation of corporate insolvency resolution proceedings when the existence of financial debt and default is otherwise established in accordance with the Insolvency and Bankruptcy Code, 2016. The Court was hearing…
Going forward, the ruling is also expected to alter credit assessment frameworks, with lenders likely to reassess the nature of security available while extending loans to telecom companies, bankers said. A senior banker, speaking on condition of anonymity, said that with this ruling, the recovery from the two corporate insolvency cases…