Swedish real estate company SBB reported a reduced pretax loss for the fourth quarter of 2024, marking a significant improvement from the previous year. The company, which specializes in owning properties such as hospitals and care homes across Sweden, announced an October-December loss before tax of 613 million Swedish crowns (USD 57.27 million). This figure represents a substantial reduction compared to the 3.37 billion crown loss recorded in the same period of 2023.

SBB has been actively working to stabilize its financial position amid a challenging economic environment that has impacted many European real estate firms. In recent years, rising interest rates forced several property groups, including SBB, to restructure operations and…

Ukrainian President Volodymyr Zelensky has said that he is not ready to fix the amount of support from the United States at $100 billion, as this sum includes grants provided to Ukraine. He also emphasized that grants are not a debt.

Independent Sugar Corporation (INSCO), of the Uganda-based Madhvani Group said it has received a favourable order from the Supreme Court of India, clearing its path to acquire Hindusthan National Glass & Industries (HNG) through the Insolvency & Bankruptcy Code (IBC) process.

The Supreme Court ruling has resolved a long-standing corporate dispute, allowing INSCO to establish presence in India’s container glass industry.

Confirming the development Mayur Madhvani, Joint Managing Director, Madhvani Group of Companies said, “With the Supreme Court’s ruling now settled, we are now set to begin operations in India, focusing on revamping HNG’s manufacturing plants, enhancing efficiency, and ensuring long-term sustainability.”

“The…

This week, Melbourne’s Burnley Brewing has announced that it has entered into liquidation, marking a continuation of a now well-established trend that has seen more than 20 breweries enter into either voluntary administration or liquidation over the past year alone. 

According to an update published to ASIC, “notice is given that at a general meeting of the members of the Company held on 09 September 2024, it was resolved that the Company be wound up and that Con Kokkinos be appointed liquidator(s).”

Shortly prior to this on 3 September and 5 August respectively, Prancing Pony Brewery Apollo Bay Brewery both revealed that they had appointed restructuring practitioners to improve the economic viabilities of the…

On January 27, the Reserve Bank had superseded the board of AVIOM owing to governance concerns and defaults in meeting various payment obligations, and appointed Ram Kumar, ex-CGM of Punjab National Bank, as its Administrator.

The action was taken basis recommendation of the National Housing Bank (NHB).

Later, it filed an application with the NCLT, New Delhi bench, for initiation of corporate insolvency resolution process (CIRP) against AVIOM India.

RBI also set up a three-member advisory committee to assist Administrator Ram Kumar.

Upon admission…