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.
Section 410 of the Companies Act, 2013 created the National Company Law Appellate Tribunal (NCLAT) with effect from June 1, 2016, to consider appeals against the decisions of the National Company Law Tribunal(s) (NCLT). When it comes to appeals against NCLT(s) orders issued under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC), NCLAT also acts as the Appellate Tribunal, effective December 1, 2016. The NCLAT acts as the Appellate Tribunal for appeals against decisions rendered by the Insolvency and Bankruptcy Board of India in line with Sections 202 and 211 of the IBC.
According to the amendment made to Section 410 of the Companies Act, 2013 by Section 172 of the Finance Act, 2017, which went into effect on May 26, 2017, the…
Blokker, the Dutch household retail chain that was declared bankrupt at the end of last year, is planning to return to the market with 30 to 40 new stores across the Netherlands. That figure, while not officially confirmed by the company, has been cited by several suppliers and individuals involved in ongoing negotiations with the new Blokker organization, according to RTL Z.
Businessman Roland Palmer, a nephew of longtime Blokker directors Jaap and Ab Blokker, acquired the brand name from the bankrupt estate four months ago. Palmer has since remained largely silent about his plans for the company, but sources told RTL Z the relaunch is now taking shape.
A former supplier who was approached to work with the new company said he was…
The Supreme Court on May 2 struck down JSW Steel’s ₹19,700-crore resolution plan for Bhushan Power and Steel Ltd (BPSL), ordering the debt-laden company to be liquidated instead.
The ruling cited two key reasons for its decision: JSW’s use of a mix of equity and optionally convertible debentures (OCDs) to complete the takeover—when it should have been executed solely through equity—and a failure to implement the plan within the timeframe mandated under insolvency law.
The apex court declared the plan—approved earlier by Bhushan Power’s Committee of Creditors (CoC)—as illegal, stating it should not have been accepted in the first place.
JSW Steel had emerged as the successful resolution applicant for BPSL in one of…
The packaging and consumer goods industry has abandoned its long-held antipathy to government regulation, and has been calling for a mandatory scheme to ensure national consistency and that the costs are fairly shared. In February, the federal Environment Department published the results of a government consultation that showed a clear majority of respondents supported Commonwealth regulation of packaging.
The death of Pope Francis and global aid cuts led by the United States could complicate the work of a group of experts assembled by the Vatican to bring debt relief and a fairer financing system to the world’s poor.
Developing countries are already grappling with shrinking concessional financing and difficulty accessing bond markets due to the selloff triggered by US President Donald Trump’s sweeping tariffs.
People walk in front of St Peter’s Basilica in St Peter’s Square ahead of the conclave, which will be held on 7th May, at the Vatican, on 30th April, 2025. PICTURE: ReutersStoyan Nenov
The challenges were highlighted when the Vatican-assembled group, known as the “Jubilee Commission”, presented…
Industries hit hardest in the last quarter were tourism, transport and delivery, construction and manufacturing. The construction industry has seen continued high rates of business failure
Latest insolvency figures reveal a sharp rise in business failures, highlighting both challenges and opportunities for New Zealand business owners.
The BWA Insolvency Quarterly Market Report released today shows insolvency rates between January and March 2025 surged by 31% compared to the same period in the previous year. Liquidations rose by 40%, while receiverships and voluntary administrations saw a decline.
BWA Insolvency founder Bryan Williams (Photo/Supplied)
Friday, 2 May 2025, 2:41 pm Press Release: BWA Insolvency
Latest insolvency figures reveal a sharp rise in business
failures, highlighting both challenges and opportunities for
New Zealand business owners.
The BWA Insolvency
Quarterly Market Report released today shows insolvency
rates between January and March 2025 surged by 31% compared
to the same period in the previous year. Liquidations rose
by 40%, while receiverships and voluntary
administrations saw a decline.
BWA
Insolvency founder Bryan Williams
(Photo/Supplied)
The report’s
author, BWA Insolvency principal Bryan Williams, says that
despite the data there is a path forward for those with
strategic foresight.
Jennyfer, a French fast-fashion chain catering to teens and young women, has filed for court-ordered liquidation after four decades in business. The ruling came on April 30 from the Bobigny commercial court, following a request from company management due to persistent financial hardship. The decision had already been shared with employee representatives the evening prior, as reported by FashionNetwork.com. Operations will continue until May 28, with interested buyers invited to submit partial or full acquisition offers by May 13.
Jennyfer/Facebook
Founded in 1985, Jennyfer gained popularity across France for its trend-driven, affordable…
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An investment business in Southport has gone into administration after a major fraud investigation was launched into its activities by the City of London Police.
The City of London Police is investigating a suspected widespread fraud of The 79th Group’s offer of high yield loan notes to investors which promise a high interest return over a fixed period.
The 79th Group operated from Southport Business Park, but no-one was answering the phone today and all emails bounced back. The website is down.
The business also operated in real estate claiming to specialise in the acquisition, management and development of lucrative assets. They offer investment opportunities selling loan notes secured against properties.
