Stockholm, Sweden, 12 March 2025 – Following an exhaustive effort to explore all available means to secure a viable financial and operational future for the company, the Board of Directors of Northvolt AB today announced that it has filed for bankruptcy in Sweden.

Like many companies in the battery sector, Northvolt has experienced a series of compounding challenges in recent months that eroded its financial position, including rising capital costs, geopolitical instability, subsequent supply chain disruptions, and shifts in market demand. Further to this backdrop, the company has faced significant internal challenges in its ramp-up of production, both in ways that were expected by engagement in what is a highly complex industry, and…

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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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The ongoing beef between Lil Tjay and Offset flared up once again over a $10,000 gambling debt that has yet to be repaid. The latest chapter of this dispute began when Lil Tjay called out Offset on Instagram, accusing the former Migos rapper of “running off making smoke over lunch money.”

Tjay, who shared a carousel of images showcasing his studio session and flashy watches, captioned the post: “I could never be broke like set running off making smoke over lunch money…. ima have ta smoke on a hunnit streams for it get to all that but…

The National Company Law Tribunal (NCLT), Allahabad Bench, has ruled that the ongoing insolvency resolution process for Jaiprakash Associates Limited (JAL) must proceed under a single resolution plan for the entire company, rejecting a previous option that allowed bids for individual business clusters.

The ruling, pronounced on March 6, 2025, came in response to an application filed by Sunil Kumar Sharma, a suspended director of JAL, challenging the dual-option approach adopted by the Resolution Professional (RP).

While the RP’s counsel argued that the dual-option approach would maximize the corporate debtor’s value and expedite the resolution process, Sharma’s counsel contended that this approach violated the provisions of the…

The Ministry of Corporate Affairs may look into a whistleblower’s allegation against accounting firm EY in a case related to education tech startup Byju’s insolvency process. The whistleblower has come forward with allegations, claiming that the insolvency process of Byju’s was manipulated by US-based lender GLAS Trust with the collusion of EY India and Interim Resolution Professional (IRP) Pankaj Srivastava.

A source close to development told Zee Business: “MCA may ask regional director or transfer this case to the Serious Fraud Investigation Office (SFIO) for looking into the allegation of whistleblower.”

Last year, a regional director at Byju’s submitted an investigation report against the startup. 

The source also said…

The National Company Law Tribunal (NCLT), Hyderabad Bench, has approved the resolution plan for Leo Meridian Infrastructure Projects & Hotels Ltd. (Corporate Debtor) submitted by Jalavihar Entertainment Private Limited Consortium (JEPL Consortium/SRA). The plan, amounting to ₹237 crores, was approved by the Committee of Creditors (CoC) with a 100% voting share.

Background:

The Corporate Insolvency Resolution Process (CIRP) against Leo Meridian Infrastructure Projects & Hotels Ltd. was initiated on April 9, 2019, following a petition filed by Andhra Bank (now Union Bank of India) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The company, engaged in infrastructure and hospitality projects, had…

If you’re active on Weibo, you might have noticed the keywords “Jay Chou Macau” topping its trending list yesterday (Mar 11)

Like many, we thought the Mandopop King had announced his concert in the city, only to discover that rumours were spreading that the 45-year-old had incurred a massive gambling debt in Macau.

It all began when some Chinese media outlets reported that a “super A-list male star” had lost his entire 1.03bil yuan (S$189mil) fortune during a week-long gambling spree at the Wynn Palace casino.

He allegedly had to mortgage three luxury homes and a private jet to cover his gambling debts, with some netizens speculating that the celeb in question is Jay Chou.

Turns out it was nothing but a wild rumour.

In…