Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
The Insolvency and Bankruptcy Board of India’s (IBBI) recent discussion paper of 4-2-2025 on “Streamlining Processes under the Code: Reforms for Enhanced Efficiency and Outcomes” demonstrates a commitment to address operational challenges in the insolvency resolution process.1
It touches upon several important issues in making the Insolvency and Bankruptcy Code, 2016 (IBC)2 more robust, viz:
(1) Review of expenditure on goods and services availed during corporate insolvency resolution process (CIRP).
(2) Coordinated insolvency resolution for interconnected entities.
(3) Presentation of all resolution plans before the Committee of Creditors (CoC).
(4) Mandatory submission of statement of affairs by corporate debtors.
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There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.
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La Baie d’Hudson, Canada’s oldest retail chain, is set to begin liquidating most of its stores effective March 24, 2025, while managing to keep six locations operational thanks to recent sales boosts.
After a week of intense negotiations and deliberations, the Ontario Superior Court, led by Judge Peter Osborne, granted the retailer permission to proceed with the liquidation. Judge Osborne acknowledged, “It is the art of the possible, and we are here today. To my mind, there is no other option.” This approval gives La Baie d’Hudson the green light to liquidate its operations except for a handful of stores that are deemed financially viable.
The six stores that have escaped liquidation include the iconic flagship…
TORONTO — After a week spent seeking a lifeline, Canada’s oldest company has found a way to keep six of its stores open — for now — but will begin liquidating the remainder on Monday.
TORONTO — After a week spent seeking a lifeline, Canada’s oldest company has found a way to keep six of its stores open — for now — but will begin liquidating the remainder on Monday.
Ontario Superior Court judge Peter Osborne on Friday approved the plan, paving the way for the retailer to begin selling off inventory at most of Hudson’s Bay’s 80 stores, three Saks Fifth Avenue locations and 13 Saks Off 5th shops in Canada.
“This is the art of the possible and we are where we are today,” Osborne said in court. “In my view, there is…
The retailer is speaking to key stakeholders, such as landlords, to create an alternative path that could preserve jobs and tenancy in retail locations, but this would also require a significant amount of capital. (Credit: Katherine KY Cheng/Getty Images/Postmedia files)
Hudson’s Bay Co. on Friday received court approval to start liquidating all but six of its 96 stores starting on Monday, as Canada’s oldest department store tries to find a way to pay back the millions of dollars it owes to its creditors and not shut down completely.
The stores the company doesn’t plan to liquidate as of now are its flagship store in downtown Toronto, as well as those in Toronto’s Yorkdale Shopping Centre, Hillcrest Mall in…
