JSW Steel may be forced to write off its ₹19,700 crore investment in Bhushan Power & Steel Ltd (BPSL), after the Supreme Court declared the 2021 acquisition illegal and ordered the company into liquidation. The decision caused JSW shares to fall 5.5% on Friday to ₹972.15, and could potentially shave off 10–15% of the company’s production capacity and around 10% of its consolidated EBITDA.

JSW Steel had acquired BPSL as part of its aggressive expansion plan and invested ₹3,500–4,500 crore post-acquisition to expand capacity from 2.75 MT to 4.5 MT. Plans were in place to raise it to 10 MT by 2030–31.

CLSA noted BPSL accounts for 10–11% of JSW’s FY25–27 EBITDA and highlighted the $800/tonne investment made for 3.5 MT…

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Bergen, Norway, 03 April 2025 – Norwegian deep sea mining company, Loke Marine Minerals, owner of UK deep sea mining company, UK Seabed Resources (UKSR), has declared bankruptcy.

Loke had dreams of becoming the world’s largest deep sea mining company, holding licenses in the Pacific as well as setting their eyes on the Arctic. Now, their deep sea mining dreams have been shattered. UK Seabed Resources holds two UK government sponsored deep sea mining exploration licenses which together cover an area of the Pacific larger than England. 

In November last year, Loke Marine Minerals pleaded for new investors but recognised that they were struggling. The reason: their potential investors “were not immune” to the…

A bench of Justice Bela Trivedi and Justice Satish Chandra Sharma quashed and set aside the September 5, 2019, National Company Law Tribunal order and February 17, 2020, National Company Law Appellate Tribunal (NCLAT) order upholding JSW’s resolution plan.

In a decisive verdict that underscores the sanctity of India’s insolvency framework, the Supreme Court on Friday quashed JSW Steel’s resolution plan for debt-laden Bhushan Power and Steel Ltd. (BPSL), citing gross violations of the Insolvency and Bankruptcy Code (IBC), 2016. The court ordered the immediate liquidation of BPSL, marking a significant setback for JSW Steel and raising questions about corporate governance in insolvency proceedings.

Background: A Protracted Legal Battle
The case traces back to 2017 when Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against BPSL, part of the RBI’s “dirty dozen” accounts. JSW Steel emerged as the highest bidder in 2018 with a ₹19,350…

London
CNN
 — 

Harland & Wolff, the 163-year-old firm that built the Titanic, has declared itself insolvent after failing to secure funding to continue trading.

The loss-making UK shipbuilder said Monday that it would likely begin administration proceedings in the coming days. Administration provides a way for companies in the United Kingdom to restructure when they cannot pay their debts, as opposed to being wound up, or liquidated, immediately.

In a statement, Harland & Wolff said its request for a £200 million ($264 million) “facility” from UK Export Finance, a government department, had been rejected, leaving it…

The Technical University of Kenya (TUK) has officially been declared financially insolvent by the National Assembly, as fresh revelations expose deep-rooted mismanagement and a staggering Sh12 billion debt burden that has crippled the institution.

This comes amid shocking disclosures that no employee at TUK has received a full salary since 2013, the same year the institution received its charter and full university status.

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Part 1: A Broad Overview of Bankruptcy

‘As privileged professionals, who live by the words of the English language, lawyers have a special duty to be clear in what they say and write’[1]

When discussing any area of law, precision is essential.

A common source of confusion amongst both lawyers and the public generally is the difference between insolvency and bankruptcy. Though you may see the terms being used interchangeably (especially in legal dramas), the two concepts are distinct.

Insolvency and Bankruptcy: A Distinction

Insolvency is defined by the Corporations Act 2001 (Cth) as the inability to pay one’s debts as and when they fall due.[2]

There are two types of insolvency: personal and corporate insolvency. Whilst it…

ORLANDO, Fla. — Thousands of Central Floridians are about to find out that their medical debt has been wiped away.

Members of the Orange County Board of County Commissioners announced that letters are going out now to people who qualified to have their medical debt cleared.

On Feb. 20, 2024, the Board of County Commissioners allocated $4.5 million from Federal ARPA funds to help clear medical debt for Orange County…

The school district in Arkansas’ largest city is asking for help to pay off school lunch debt. At a press conference this week, Little Rock School District Superintendent Jermall Wright said the district’s nutrition department has few resources to bridge the gap between school budgets and unpaid student lunch debt. 

Stephanie Walker Hynes is a Little Rock food commissioner and school nutritionist for the LRSD. She said the district’s total school lunch debt was over $174,000 halfway through the week, which is still growing.

The debt comes from 13 schools throughout Little Rock. Arkansas is the most food-insecure state in the nation, according to a report from Feeding America.

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