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…

The Kenyan government has launched the 2025 Medium-Term Debt Strategy (MTDS), outlining measures aimed at minimizing the cost and risks of public debt while ensuring sustainability over the next three years.

Speaking during the unveiling in Nairobi, the National Treasury and Economic Planning Cabinet Secretary (CS), John Mbadi, emphasized the need for prudent debt management amid economic uncertainties and shifting global financial dynamics.

According to the CS, the strategy, covering the period from 2025 to 2028, seeks to gradually reduce the stock of Treasury bills while lengthening the maturity of public debt instruments. It also prioritizes deepening the domestic debt market and securing a balanced mix of concessional and…

Hudson’s Bay Co. fought to avoid a full shutdown in a Toronto courtroom on Monday, asking for permission to begin liquidating most of its stores this week.

A lawyer for Canada’s oldest company, Ashley Taylor, said HBC’s efforts to solve its cash flow crisis have “failed.” Taylor also told a standing-room-only crowd at the Ontario Superior Court of Justice that if the retailer can’t find a workable solution with its creditors and landlords, it would need to fully liquidate.

HBC, which owes about C$1.1 billion ($770 million) in secured debt, sought authorization to sell inventory over the next three months to raise cash. Justice Peter Osborne adjourned the proceedings Monday without a decision.

HBC was founded in 1670 — before…

The Insolvency Service said it had been unable to “verify the nature” of Hope & Pride’s income and expenditure.

A total of £1,178,364 was paid into the company’s account, with £1,133,964 paid out.

Additional payments of £151,000, listed on bank accounts as “J Lennon dividends”, were similarly not verified.

The company entered liquidation with total liabilities, which Lennon has not disputed, of £327,923.

An Insolvency Service spokesperson said: “Directors are legally required to maintain adequate books and records which show and explain their company’s transactions.

“This is first and foremost to protect consumers and other businesses who have dealings with the company.

“Jenna Lennon failed in her duties as a company director to preserve…

As debt challenges grow in complexity and scale, existing multilateral tools have struggled to keep pace.

Addressing the 14th International Debt Management Conference held in Geneva between 17 and 19 March, UN Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan urged reforms to prevent the current debt crisis from derailing progress.

“Behind us lies a system that needs reform; before us, the chance to build one that serves people and stability, long-term development, not recurring default,” Ms Grynspan said in…

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