Insolvency-related activity in Dorset and the South East rose by more than 23 per cent last month.
The increase was reported by R3, the UK’s insolvency and restructuring trade body, which analysed data from Creditsafe.
The data revealed a rise in insolvency-related activities from 172 in January to 212 in February.
These figures include administrator and liquidator appointments, as well as creditors’ meetings.
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The South East reported the sixth highest number of insolvency-related activities in the UK, behind Greater London, which had 463, the North West with 359, East Anglia at 313, the West Midlands with 285 and Yorkshire and Humberside at 223.
Every region saw…
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Ola Electric shares tumbled nearly 7% on Monday, sinking below Rs 50 for the first time. The stock hit a record low of Rs 46.94 on the Bombay Stock Exchange (BSE) in early trade. By 10:54 am, it was trading at Rs 47.25, down 6.51%.
The slump came after the company revealed that an insolvency petition had been filed against its subsidiary, Ola Electric Technologies.
The petition was submitted by M/s. Rosmerta Digital Services, an operational creditor, at the National Company Law Tribunal (NCLT) in Bengaluru. The creditor accused Ola of defaulting on payments for services and asked for a Corporate Insolvency Resolution Process (CIRP) to be initiated.
Ola Electric issued a statement to stock exchanges, saying: “We wish to inform you that a…
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Insolvency-related activity increased by more than 23 per cent across across the Thames Valley and Wiltshire region last month, according to R3, the UK’s insolvency and restructuring trade body.
R3’s analysis of data provided by Creditsafe showed a rise in insolvency-related activities from 172 in January to 212 in February.
The figures include administrator and liquidator appointments together with creditors’ meetings.
The South East figure for insolvency-related activities is the sixth highest in the UK, behind Greater London, which has 463, the North West 359, East Anglia 313,…
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Ashok Hinduja, Chairman of IndusInd International Holdings Ltd (IIHL), announced on Tuesday that the acquisition of debt-ridden Reliance Capital (RCAP) has been successfully completed. The bid amount has been transferred to lenders, with the management transfer expected to occur on Wednesday.
It is to be noted IIHL emerged as the successful resolution applicant in April 2023, securing the bid for Reliance Capital through the Corporate Insolvency Resolution Process (CIRP) with a winning offer of Rs 9,650 crore.
Hinduja stated that the transaction has been finalised, with the transfer of funds currently in progress. He emphasized that the focus will now shift towards creating value, estimating the conservative value of the Reliance…
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Corporate insolvencies in the UK increased by 2.9% in February 2025 to a total of 2,035, up from 1,978 in January, according to the latest figures from the Insolvency Service. However, this represents a 7% decrease from February 2024, when 2,188 businesses entered insolvency. Compared to February 2023’s total of 1,964, insolvencies have risen by 3.6%.
After seasonal adjustment, the number of registered company insolvencies in England and Wales was 2,035, marking a 3% increase from January but remaining 7% lower than the previous year. Despite the drop from 2024 levels, insolvencies continue to be high relative to historical standards, reflecting ongoing financial strain on businesses across multiple sectors.
In February…
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The Insolvency and Bankruptcy Code (IBC) has played a pivotal role in resolving corporate distress, with as many as 40,943 applications filed under the law since its inception in 2016. Of these, a significant 28,818 applications amounting to a total claim of Rs 10 lakh crore were resolved even before formal admission, Union Minister of State for Corporate Affairs Harsh Malhotra informed the Lok Sabha on Monday.
The minister emphasized that the introduction of IBC has been a game-changer for India, helping the country improve its global insolvency resolution ranking by 56 places from 108 in 2018 to 52 in 2019 before the World Bank discontinued its Doing Business Report in 2021.
Among…
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Sharvain Facades goes into voluntary administration MSN
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Sharvain Facades goes into voluntary administration MSN
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By Emily Lever · March 18, 2025, 8:53 PM EDT
In its second bankruptcy in six years, fast-fashion chain Forever 21 is winding down and plans to close more than 300 U.S. stores, and has disclosed more than $1 billion in…
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Katie Price says both her bankruptcies have been discharged MSN
