NEW DELHI: The Insolvency & Bankruptcy Code (IBC) has resulted in two cases being resolved under the new law for every one that goes into liquidation. This is a sharp contrast to 2017-18, when for every one resolution, five companies went into liquidation, latest data showed. This improvement is partly because the legacy cases related to liquidation have come down and also due to better quality of assets when they are admitted for corporate insolvency resolution.A number of initiatives are being taken to improve the outcomes of the Code (IBC). These include monitoring of cases pending for admission and ongoing CIRPs (corporate insolvency resolution processes). Further, the Insolvency & Bankruptcy Board of India (IBBI) revised its…

Village Roadshow Entertainment Group (VREG) has filed for Chapter 11 bankruptcy protection in the US, citing an ongoing legal dispute with Warner Bros. and expenses related to creating independent content as major contributors to its financial decline.

The company, known for producing The Matrix trilogy and Joker, has approximately US$223.8 million in asset-backed secured loans and US$163.1 million of senior secured debt, according to documents filed in the US state of Delaware on Monday US time.

VREG is separate from the Australian-based Village Roadshow Group which was formed in 1954 and includes Village Roadshow Theme Parks, Roadshow Distributors, Roadshow Productions, Village Roadshow…

Lawrence Dallaglio has been declared bankrupt, it can be revealed.

Telegraph Sport has been told that a bankruptcy order was made against the Rugby World Cup-winning forward on May 8.

That was two days after the prospect of such an order being issued against Dallaglio was raised during an Insolvency and Companies Court (ICC) hearing.

Dallaglio averted financial ruin two years ago by agreeing to pay off debts that included £700,000 in unpaid tax.

As revealed by Telegraph Sport, the ICC hearing had been triggered by an application to the court by Dallaglio’s estranged wife, Alice, for an “urgent” order allowing the immediate £2.7 million sale of the former couple’s Richmond home.

She was said to have done so in the hope of staving…

Based in San Mateo, California, Freedom Debt Relief was founded in 2002 with a mission to help Americans who have become overwhelmed by their unsecured debt. Launched during a time of rising consumer debt, the company pioneered debt settlement services that would later become industry standards. Since that time, Freedom Debt Relief has grown to become one of the largest debt settlement companies in…

If you’re starting to doubt your ability to effectively pay down your credit card debt, you’re not alone. According to a recent report, credit card balances totaled $1.18 trillion in the first quarter of 2025. While that’s actually a decline from the final quarter of 2024, it represents a 6% rise from the same period last year. Combined with credit card interest rates just under a record high 23% and

New Delhi: The National Company Law Tribunal, on Wednesday, deferred the hearing of Bhushan Power and Steel Limited‘s (BPSL) insolvency case to May 26. The NCLT sought the assistance of the counsels appearing in the case to implement the Supreme Court’s judgment.

Earlier this month, the Supreme Court scrapped JSW Steel‘s ₹19,700-crore acquisition of BPSL completed four years ago, citing “gross violation” of the Insolvency and Bankruptcy Code (IBC), and ordered the liquidation of the company.

The top court has observed violations of norms or processes by key stakeholders – JSW Steel, the committee of creditors, and the resolution professional.

Emphasising that NCLT has to operate within the findings of the SC and its role is limited,…