Insolvency Guardian Media Centre
An effort to erase medical debt is coming to a close – exceeding expectations for the number of residents assisted but leaving about $1 million Cleveland City Council allocated unspent.
Council members announced today that the program benefited 161,481 Clevelanders, thousands more than originally predicted. That’s about 40% of the city’s population.
The effort follows City Council’s decision in 2023 to set aside $1.9 million in federal COVID-19 relief money to cancel medical debt by partnering with a national nonprofit called RIP Medical Debt. The organization has since been renamed Undue Medical Debt.
The nonprofit uses that money to buy up bundles of past-due medical bills from local hospitals or…
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New Delhi, May 1 (UNI) The National Company Law Appellate Tribunal (NCLAT) on Thursday rejected an appeal by Drilltech Engineers that challenged the Chandigarh Bench of the National Company Law Tribunal (NCLT) for refusing to initiate insolvency proceedings against real estate giant DLF Limited.
The appellate bench, headed by Justice Ashok Bhushan (Chairperson) and comprising Technical Members Barun Mitra and Arun Baroka, observed that the matter involved serious and ongoing disputes between the parties that predated the insolvency notice, thus disqualifying the claim under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC).
“The records clearly show a substantial exchange of communication indicating the presence of a genuine,…
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NCLT Allows Second Challenge Round In Frost International Insolvency To Maximise Value For Creditors | Representational Image
In connection with the ongoing insolvency proceedings of Frost International Limited(FIL), the National Company Law Tribunal (NCLT), Mumbai Bench, has permitted the Committee of Creditors (CoC) to conduct a second challenge mechanism for selecting a resolution plan, paving the way for fresh negotiations to maximise value for stakeholders.
The Tribunal, comprising Justice Virendrasingh Bisht (Retd.) and Technical Member Prabhat Kumar, passed the order on April 11, 2025, in response to an application filed by Resolution Professional Amit Chandrakant Shah. The…
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It’s rare to see a company founded in the 17th century still operating today—but that was the case for Hudson’s Bay Company. Once a dominant force that governed what is now Canada for over 200 years, and one of the most legendary businesses in North America, it now finds itself on the brink of bankruptcy.Today, the company owns just six remaining stores, and a judge has given it until early May to avoid full liquidation.
Origins of the company
While countries like Spain, France, and Portugal created “state-companies” focused on conquering land and establishing trade, it was the British and Dutch East India Companies that became known for ruling entire territories independently. Around 1650, two French explorers—Pierre-Esprit…
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Battery recycler Li-Cycle announced Thursday that it was seeking buyers for its business and assets – hoping to strike a deal and avoid filing for bankruptcy protection.
The Canadian company was building a massive hub facility at Eastman Business Park but abruptly halted construction in the fall of 2023, citing escalating construction costs. Since then, there’s been uncertainty about whether the once-heralded development would restart and deliver on the promise to create more than 250 jobs.
“Considering the company’s current circumstances, Li-Cycle will need to significantly modify or terminate its operations and may need to dissolve and liquidate its assets under applicable insolvency laws…
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South Africa sees 8% drop in business liquidations in March MSN
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Liberated Brands has filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code, the company confirmed in a statement.
The company will close over 100 of its retail locations in the US and nine stores in Hawaii remain under review.
Liberated said the company is in the “process of transitioning its brand licences to new licence holders” to ensure continuity of the Aussie-owned brands in the US.
“The Liberated team has worked tirelessly over the last year to propel these iconic brands forward, but a volatile global economy, consumer…
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FRP Advisory Group reports director’s role in Burrington Estates liquidation By Investing.com Investing.com India
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Li-Cycle is for sale, bankruptcy may be next, company warns Rochester Business Journal
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FRP Advisory Group reports director’s role in Burrington Estates liquidation Investing.com Australia
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As fears of higher student loan payments and wage garnishment increase among borrowers, so does the opportunity for scammers to prey on your desperation.
Elaine Rubin, a student loan policy expert, wants borrowers to be on high alert for student loan scams offering to lower their payments, get their debt canceled or make sure their wages aren’t garnished.
“All the noise, the concern and the fear starts to bring about more predatory or scam companies to contact borrowers to offer them an ‘easy way out,'” Rubin said.
It’s always important to stay vigilant and look out for scammers, but student loan borrowers should be even more cautious right now, since the Consumer Financial Protection Bureau has been…