Misschu Goes into Voluntary Administration

MissChu, the popular Vietnamese tuckshop and catering business, has gone into voluntary administration. In a statement from KordaMentha, the company appointed as administrators, MissChu’s financial pressures appeared to be caused by “the lack of controls over fixed costs in the business, the expansion of the retail tuckshops through trading and the closure of the Opera…

Bangladesh Bank Approves Liquidation of 6 NBFIs | Six NBFIs finally set for liquidation, three get time to recover

Six non-bank financial institutions (NBFIs) out of 35 are set to be liquidated finally due to poor financial health, after the Bangladesh Bank (BB) board approved the move today. The six NBFIs are FAS Finance, Premier Leasing, Fareast Finance, Aviva Finance, People’s Leasing, and International Leasing. Initially, the regulator had planned to liquidate nine NBFIs.…

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IBC has been a game-changer, transformed the insolvency landscape: DFS secretary

The Insolvency and Bankruptcy Code (IBC) has been a game-changer and has transformed the insolvency landscape by fostering transparency, accountability and efficiency in corporate dispute resolution and laying the foundation of a more resilient and robust economy, Financial Services Secretary M Nagaraju said on Wednesday. “Despite these achievements, several challenges still remain, which include timelines…