Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
PESHAWAR, June 13: The Khyber Pakhtunkhwa government has created a Debt Management Fund to ensure timely repayment of government’s loans and improve financial stability.
In a budget document issued here Friday, the initiative was part of broader efforts to control future debt pressure.
In fiscal year 2024-25, the provincial government repaid a significant Rs 49 billion in outstanding loans, which included Rs 18 billion in markup.
To further strengthen debt management, the Finance Department has issued strict directives to all government departments.
Moving forward, departments must consult with the Finance Department before securing any new loans.
The policy aims to ensure that new loans are only acquired for revenue-generating…
A mid-year money review can show where you’re at and if any adjustments are needed to enhance your finances.
June is an optimal time to appraise your savings and financial goals before 2026 arrives.
That mid-year point can help you see if you are reserving or investing cash in what you have planned since January. It can assist you with identifying and adjusting any personal financial goals if needed and help you avoid any negative moves during the next six months.
Marelli Holdings Co., the long-struggling auto parts supplier for Nissan Motor Co., Stellantis NV and other carmakers, filed bankruptcy in the U.S., saying its latest debt-cutting effort was prompted by tariffs.
The insolvency case is backed by senior lenders, who have signed a deal designed to slash Marelli’s debt burden and restructure under new ownership.
The auto parts supplier has been caught up in industry…
The Board of Andhra Pradesh-based Hemadri Cements is likely to consider viability of operations and examine the proposal for Voluntary Liquidation of the Company under Section 59 of the Insolvency and Bankruptcy Code, 2016, in a meeting of Board of Directors to be held on 18 June 2025, the company informed the exchanges on 14 June 2025.
Hemadri Cements has temporarily suspended the productions during in 2024. According to the company’s annual report for 2024-25, the significant shift in market demand led to an excess inventory, requiring a pause in production to prevent overstocking and financial strain. In addition to it, the shortages in raw materials, delays in shipments, or other logistical issues contributed to a…
Gensol Engineering, Gensol EV to face insolvency proceedings; know what NCLT said (Pic: Shutterstock/ ET NOW)
Gensol Engineering , Gensol EV Insolvency : The National Company Law Tribunal ( NCLT ) has directed to initiate insolvency proceedings against Gensol Engineering and Gensol EV Lease. The order came after NCLT admitted the petitions filed by the Indian Renewable Energy Development Agency ( IREDA ).
The Ahmedabad bench of NCLT also appointed interim resolution professionals for both debt-ridden companies after suspending their respective boards.
IREDA-Gensol Insolvency
In the matter of Gensol Engineering, a two-member NCLT bench said IREDA has established a financial debt of Rs 510 crore by the…
The Social Security Administration has not announced any official confirmations about the SSA will be bankrupt so the rumors have also surfaced of it. The beneficiaries can also wait for the official confirmations because the Social Security has already announced about the benefits which will be increased up to 79% by 2033. Minimum of 83% will also be paid by 2035 and the official announcements has also released that the national debt is also near the $34 trillions for the SSA. so, the SSA will not go bankrupt. Will Social Security Go Bankrupt? is fake news flashing on the internet.
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Administrators for Australia’s largest specialty fashion group, Mosaic Brands, have issued a preliminary finding that the company may have been operating while insolvent, four years before the company’s collapse.
Mosaic Brands entered administration last year and owes a total of between $361 million to $392 million to creditors in Australia and overseas.
Insolvency is when a company can no longer pay its debts, and it is illegal to trade under these circumstances, according to the Corporations Act. There are serious penalties for allowing a company to trade while insolvent.
In the report dated 13 June, which was handed to creditors on Friday, FTI Consulting estimated that the potential liability for a successful insolvent trading claim in…
All Are Welcome – renowned for its sourdough and pastries – is closing its doors after going into liquidation, leaving questions about unpaid entitlements for dozens of staff.
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Inner-north Melbourne bakery All Are Welcome is closing all three of its shops, but its founder denies the closure is linked to media reports that the business owes staff more than $360,000 in entitlements.
A long post on its Instagram page included this statement: “We lost the heart of our bakery and we can not continue. It’s unfortunate, it’s sad, it’s ugly,…
