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Retailer Peter Stevens Motorcycles has entered voluntary administration. The business had dealerships across Australia including Victoria and sold new and
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A significant contributor to the improved performance in FY25 was the appointment of 20 new NCLT members in February 2025, which helped alleviate case backlogs and expedite resolutions.
(Reported and Authored by Anjali Palod)
Creditors are poised to recover over ₹67,000 crore through resolutions under the Insolvency and Bankruptcy Code ( IBC ) in FY25, marking a 42% increase from the ₹47,206 crore recovered in FY24. This uptick comes as the National Company Law Tribunal ( NCLT ) resolved 284 cases this fiscal year, slightly up from 275 in FY24, year-end data from NCLT shows.
Since its inception in 2016, the IBC has facilitated the resolution of distressed assets worth over ₹4.4 lakh crore, aiming…
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MANNHEIM, Germany, May 13, 2025 (GLOBE NEWSWIRE) — Affimed N.V. (Nasdaq: AFMD), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, today announced its decision to file an application for opening of insolvency proceedings with the local court of Mannheim in Germany.
As previously reported, Affimed N.V. (the “Company”) has been engaged in discussions with potential investors and partners with respect to potential strategic transactions to raise additional capital. Despite its continuous and ongoing fundraising efforts, the Company has not been able to raise sufficient additional funds to continue the operations of the Company and its controlled…
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The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that Interim Resolution Professional (IRP) is well within his authority under Section 18(1)(f) of the Insolvency and Bankruptcy Code, 2016 (Code) to take possession of assets owned by the Corporate Debtor, and filing an application before the Adjudicating Authority under Section 60(5) of the Code for this purpose is permissible.
Brief Facts:
On application filed under Section 7 by M/s. Assets Care and Reconstruction Enterprise Pvt. Ltd., Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor- Rajesh…
Retailer Peter Stevens Motorcycles has entered voluntary administration.
The business had dealerships across Australia including Victoria and sold new and used motorcycles, parts and accessories.
Up to 400 jobs are now at risk, with Herald Sun reporter and motorcycle enthusiast Ian Royall telling Tony Jones on 3AW Drive “it’s a bit of a shock for a lot of people in the motorcycle world”.
New York’s business community is celebrating a major budget win with the state’s decision to wipe out $8 billion in unemployment insurance debt, according to Spectrum News. The move is expected to ease a significant burden on employers still recovering from pandemic-era costs.
Ken Pokalsky of the Business Council of New York State said the payoff was a top priority, noting it would prevent future tax hikes on businesses. With the budget now finalized, the council plans to shift focus to blocking legislation they see as harmful in the remaining weeks of session.
Though delayed, the budget’s passage delivered a critical financial reset for many employers, setting the tone for a defensive strategy as lawmakers wrap up 2025.
MONTPELIER — A new law will wipe away medical debt for Vermonters and clear it from credit scores.
Treasurer Mike Pieciak plans to share updates regular updates on the purchase and forgiveness of medical debt from local providers.
On Thursday, Gov. Phil Scott signed the bill into law but shared his concerns with lawmakers.
“First, we should recognize much of this debt has already been written off by health care providers as uncollectable and built into higher rates for ratepayers,” Scott wrote in a letter to the Legislature. “Second, with a looming healthcare crisis and our growing crisis of…
