The views expressed in the Let’s Talk Development blog are solely those of the author(s). 

Efficient insolvency legislation is crucial for economic stability and investor confidence helping to ensure that resources are reallocated efficiently, businesses can recover or exit the market smoothly, and creditors are treated fairly. This blog presents lessons from Romania, emphasizing the need for and methods to achieve streamlined insolvency processes to prevent financial losses and promote economic growth—insights that are applicable globally.

Romania’s insolvency legislation often prolongs business liquidations, causing losses for creditors, tying up capital, and reducing investor confidence. A recent Subnational Business…

SpiceJet has successfully settled its dispute with Willis Lease Finance Corporation, a leading global aircraft engine lessor, resulting in a substantial saving for the airline. As part of the agreement, Willis Lease has withdrawn its insolvency case against SpiceJet, closing yet another chapter in the airline’s ongoing efforts to strengthen its financial foundation.

This settlement follows a series of strategic agreements SpiceJet has secured in recent months, supported by an ₹ 3,000 Crore infusion through a Qualified Institutional Placement (QIP) in September 2024 and an additional INR 294.09 Crore infusion by promoter Ajay Singh. These funds…

Ehau told the Gisborne Herald that all building projects Hikurangi Enterprises had “on the book” were completed.

“There are no contracted projects left up in the air,” he said.

“What we did as an entity as we went through this process is make sure we had a people-centred approach to it.

“We made sure all the projects that needed completion were completed, we made sure our customers were looked after, our employees were looked after. We had conversations with our suppliers to make sure they were informed about what was going on.”

Ehau said they had been able to navigate a pathway for potential future customers with alternative providers who could deliver on the same “people-centric” and…

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We are proud of the rankings in the recently published Legal 500 EMEA edition. Wijn & Stael Advocaten is mentioned with the following practices: Restructuring & Insolvency (TIER 2), Commercial Litigation (TIER 3), Employment (TIER 4) and Environment and planning (TIER 3). We are very grateful for the great feedback we received from our clients. See the overview of the entries and quotes from our clients below.

RESTRUCTURING AND INSOLVENCY (TIER 2)
Wijn & Stael Advocaten N.V.‘s Utrecht-based cohort is known for its abilities handling cross-jurisdictional and domestic restructuring and bankruptcy matters. Financing, securities and insolvency specialist Noor Zetteler and Remco Vermaire, who counsels the…

Marisela Rivera’s student visa expires in two weeks.

A week and a half ago she found out the agency she had paid her school, visa extension and insurance fees to had collapsed, likely taking her money with it.

“When I found out, it was like everything was crumbling,” Ms Rivera said.

The 33-year-old from Mexico is one of hundreds of international students whose plans to study in Australia are in jeopardy due to the collapse of GrowPro Experience — a Spain-based agency selling mainly to European and Latin American students.

“I contacted the school and the school confirmed they didn’t receive any funds,” Ms Rivera said.

Adani Group News: Adani Group has shown interest in acquiring Jaiprakash Associates Limited (JAL) through the insolvency process. JAL, the flagship company of Jaypee Group in cement, energy, hotels, construction and real estate business, has been admitted to corporate insolvency resolution proceedings under the Insolvency and Bankruptcy Code, 2016 by an order passed by the National Company Law Tribunal, Allahabad Bench on June 3, 2024.

News agency PTI reported quoting sources that Adani Group has filed an expression of interest (EOI) to acquire the bankrupt JL. Earlier this month, the National Company Law Tribunal (NCLT) had directed that the resolution plan to acquire JAL through insolvency should be invited for the entire…

The company behind iconic fashion brand Jeanswest has called time on its bricks-and-mortar retail operations as trading conditions for Australian retailers become increasingly tough amid reduced discretionary spending and increased cost of living.

Harbour Guidance Pty Ltd, which rescued Jeanswest after it entered administration in 2020, has made the decision to put the company into voluntary administration, appointing Lindsay Bainbridge, Andrew Yeo and David Vasudevan of Pitcher Partners Melbourne.

While the bricks and mortar business operations are set to close in due course, the brand and online store may be continuing and all restructuring options remain open. Jeanswest currently operates from over 90 locations in Australia and…

The events industry body is celebrating its 50th anniversary in 2025 but has appointed an administrator ahead of ceasing operations.

The annual MEA National Conference was to be held in June 2025 in Sydney – with Spice announced as a Gold Media Partner just last week – but this will no longer go ahead.

“It is with deep sadness and a profound sense of gratitude that we share with you the news that Meetings and Events Australia (MEA) will be closing after 50 years of service to the Australian events industry,” says MEA chair Vanessa Green.

“Despite…

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Attorney General Peter F. Neronha has filed a lawsuit against Palisade Legal Group, PLLC, and its sole member Michael Moccia, alleging the company violated state consumer protection laws through deceptive debt management practices.

The lawsuit, filed in Providence Superior Court, accuses Palisade of operating an unlicensed debt-management service and charging illegal fees that harm Rhode Island consumers.

According to the complaint, Palisade charged consumers a flat 27.5 percent fee on total enrolled debt, which exceeds state-mandated limits. Typically, Rhode Island law caps such fees at 30 percent of negotiated debt relief based on actual savings.

The Attorney General’s Office provided an example of a…

In July last year, the Australian-registered arm of the business, Kester Black Pty, entered voluntary administration, while the New Zealand business was put into liquidation the following month, with Kester Black Pty the sole shareholder.

It caused outrage from investors, upset about how financial problems had been handled, and Kester Black founder Anna Ross received abuse and death threats, her partner Fergus Sully said last year.

The stock, intellectual property (IP), and goodwill of Kester Black Pty were sold to New New New Pty Ltd, a company owned by Mr Sully, who said…