Insolvency Guardian Media Centre
The financial creditors of would take a 99.5% haircut in the resolution of erstwhile Anil Ambani-promoted Reliance Big Private Limited’s insolvency case. The National Company Law Tribunal (NCLT), Mumbai Bench, has approved the resolution plan submitted by Manoj Kumar Upadhyay through his affiliate firm ACME Cleantech Solutions Private for the revival of Reliance Big Private Limited.
As per the resolution plan, the secured financial creditors of the Reliance Big would receive a sum of Rs 3.5 crore against their total admitted claims of Rs 484 crore. The resolution plan does not offer any money to unsecured financial creditors who had submitted total claims of Rs 515 crore. The plan also includes the issuance of…
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State lawmakers are considering a new student loan repayment program to attract former Alaskans to return and serve as teachers and state workers.
The program outlined in House Bill 28 would pay off up to $24,000 in student debt for Alaskans who go out of state for college as an incentive to return home to work for the state or as a public school teacher.
Bill sponsor Rep. Andi Story, D-Juneau, said it’s an effort to address the state’s struggle to hire key employees and stem the tide of outmigration
“I want to incentivize and encourage skilled former Alaskans to come back home and work as teachers or state employees,” she…
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Billionaire entrepreneur and Tesla CEO Elon Musk has voiced his concerns over the U.S. trade deficit and government spending, warning that America is at risk of bankruptcy if spending is not brought under control. Speaking in an interview with Fox News on February 19, 2025, Musk criticized wasteful government expenditures and urged taxpayers to recognize the financial mismanagement affecting the country’s economy.
During the discussion, Musk emphasized that the United States is running a USD 2 trillion annual trade deficit, which he described as “insane.” He compared the country’s economic situation to that of an individual, stating that if overspending continues, financial collapse is inevitable. Former U.S. President Donald…
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What we know so far about the dramatic Whyalla Steelworks administration The New Daily
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Tesla CEO and self-proclaimed “DOGE Head” Elon Musk sharply criticized the US government’s spending, warning that if the growing deficit is not addressed, “America will go bankrupt.” Speaking in an interview with Fox News on Tuesday, Musk said that the average American taxpayer “should be mad as hell” over wasteful expenditures.
“The overall goal is to try to get a trillion dollars out of the deficit,” Musk stated. “If the deficit is not brought under control, America will go bankrupt. This is a very important thing for people to understand. A country is no different from an individual. If an individual overspends, an individual can go bankrupt, and so can a country.”
He also criticised US foreign aid and government contracts, arguing…
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Overview
The English High Court has ordered1 two directors (the Directors) of four companies in the British Home Stores group (BHS) to make payments exceeding £18 million in connection with BHS’ trading prior to commencing insolvency proceedings.
Each director has been ordered to pay £6.5 million for continuing to trade past the point at which the Court concluded the Directors knew or ought to have known that insolvency was inevitable and there was no reasonable prospect of avoiding liquidation. This order represented the largest ever award made by an English court for wrongful trading, although it has been reported that an even larger award has been made against former owner and director, Dominic Chappell….
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Latest data from the insolvency showed that the construction industry experienced the highest number of insolvencies in the 12 months to December 2024 at 4,032, making up 17% of all industry cases.
Kelly Boorman, National Head of Construction at RSM UK, said “The latest rise in construction insolvencies shows the extent of the debt burden and distress in the supply chain. We’ve seen the volume of M&A transactions jump sharply in the industry, reflecting the challenges of an aging workforce and a lack of investment in technology to fill the labour gap. Much of this M&A activity is to consolidate existing workforces, but businesses also need support to raise working capital and attract skilled labour to ensure…
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Tesla CEO Elon Musk recently criticised the current state of US spending, remarking that an average citizen in the country ‘should be mad as hell’ over the expenditure of the tax money. In an interview with Fox News on Tuesday, Musk pointed out that when former President Donald Trump took office, he inherited a $2 trillion trade deficit. Musk also warned that “America will go bankrupt” unless the deficit is addressed. He criticized U.S. foreign aid spending, adding, “The average taxpaying American has every right to be upset because their tax dollars are being poorly spent.”
“Well, the — the overall goal is to try to get a trillion dollars out of the deficit. And if we if the deficit is not…
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Another EV maker goes bust, as Nikola files for bankruptcy MarketWatch
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Nikola goes bankrupt, to sell assets in latest EV market turmoil Reuters