The number of corporate insolvencies in England and Wales has risen ahead off business cost rises in April. Figures for January showed that 1,852 firms became insolvent, up 10.7% on a year earlier and 13.1% on 2023. Compared to December the level was up 6.5%

Personal insolvencies decreased by 3.4% in January to 9,706 compared to December, but were up 11.6% on a year earlier.

Bethan Evans, Wales chair of R3, the UK’s insolvency and restructuring trade body, said:“The monthly and yearly rise in corporate insolvencies is down to an increase in the number of creditors’ voluntary liquidations and administrations. That would suggest that directors may be choosing to close down their firms after years of challenging trading conditions and…

Mumbai: The National Company Law Tribunal (NCLT) has directed the Resolution Professional (RP) of Omkar Speciality Chemical Limited (OSCL) and the Bank of Baroda (BoB) to provide Pravin Herlekar, the erstwhile director of OSCL, with copies of all details and a detailed break-up of BoB’s claim amounting to Rs 290.05 crore. The claim was admitted by the RP as part of the ongoing Corporate Insolvency Resolution Process (CIRP) of OSCL.

The Tribunal, while issuing its…

A week after the bankruptcy of West Plant Group’s parent company, the group’s own plant breeding companies have now been declared bankrupt. They are West Plant Fruits, West Plant Limburg, West Plant Vegetables, West Plant Biological and West Plant Retail.

The liquidator is investigating the possibilities for a relaunch and is in talks with several candidates interested in (parts of) the company, he told De Limburger. In order for a possible sale to go smoothly, efforts are being made to continue plant cultivation.

Maasbree-based West Plant Group is a propagator specializing in cabbage, celery, leek, herb and strawberry plants in trays. The company is embroiled in a damages case, following a claim after a faulty delivery of…

Strategy’s (formerly MicroStrategy) stock (MSTR) has taken a significant hit. The stock fell by double digits following a sharp decline in Bitcoin’s (BTC) price.

As speculation swirls over whether the company could be forced to liquidate its Bitcoin holdings, The Kobeissi Letter weighed in, suggesting that while such a move remains highly unlikely, it’s not entirely off the table. 

MSTR Dips Amid Bitcoin Downturn

Over the past 24 hours, Bitcoin’s price dropped more than 3%, triggering a ripple effect that sent MSTR down by 11%. According to Yahoo Finance, the stock closed at $250. This marked a 55% decline from its all-time high (ATH) in November 2024.

Amid this dip, The Kobeissi Letter delved into the

The fabric and craft retailer Joann, which had already announced the closure of hundreds of stores, this week said the chain will shut down completely.

Durban’s Pencil Club — a networking venue for the rich and famous — did not have sufficient money to keep going even until June.

Business rescue practitioner Eugene Nel was appointed by the club’s directors earlier this month in an attempt to stave off liquidation.

But on Wednesday Nel said it was hopeless.

TimesLIVE Premium reported on Tuesday the club had suddenly shut its doors, leaving about 95 full-time employees with no jobs.

Nel said he would bring urgent liquidation proceedings to wind up the holding company.

This means the employees, who were told on Tuesday there was no money to pay their February salaries and wages, will have to stand in line with creditors.

Nel was appointed on February 12 after a resolution by the…

Updated Feb 26, 2025 18:43 IST

Gautam Adani to acquire power company once owned by Anil Ambani (Pic: ET NOW)

Adani Power said that it has secured approval from the committee of creditors for acquiring Vidarbha Industries Power.

“This is to inform that the Committee of Creditors (“COC”) of Vidarbha Industries Power Limited (“VIPL”), a company undergoing Corporate Insolvency Resolution Process (“CIRP”) under the Insolvency and Bankruptcy Code 2016 (“IBC”) has approved the Resolution Plan submitted by Adani Power…

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When Strategy stock plunged more than 11% on Tuesday morning, fears of a potential forced liquidation from the self-described “Bitcoin Treasury” company spread across markets.

While those fears are not unfounded—as the company is the largest corporate entity holding Bitcoin—concerns may be overblown. 

That’s because structural safeguards make a forced liquidation scenario for Strategy “highly unlikely,” according to analysts at The Kobeissi Letter

The way “convertible notes are structured” with Strategy lends credence to this assertion, The Kobeissi Letter wrote on X on Tuesday.

A convertible note is a short-term debt instrument that converts into equity, typically used to delay discussions about a company’s valuation. 

Strategy…