The latest personal insolvency statistics indicated a total of 828 personal insolvencies for December last year, according to provisional monthly statistics by the Australian Financial Security Authority.

The National Company Law Tribunal (NCLT) has overturned its own July 2023 decision to initiate insolvency proceedings against Logix Infrastructure. The tribunal found that the insolvency application was filed with “fraudulent and mala fide intentions” by the financial creditor, Experts Realty Professionals. This rare move highlights ongoing concerns about the misuse of insolvency laws in India.

The NCLT determined that the application for insolvency was not just a standard financial dispute but part of a broader scheme involving collusion between Experts Realty and Logix Infrastructure. The tribunal noted that the entire situation appeared to be orchestrated, suggesting that the insolvency process was being exploited for purposes other…

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AGI Greenpac’s bid to acquire fellow Indian glassmaker Hindusthan National Glass and Industries (HNG) has been rejected by a court.

India’s Supreme Court rejected the proposal despite recent conditional approval from the Competition Commission of India (CCI).

The court said AGI Greenpac had violated the Insolvency and Bankruptcy Code by securing approval from a committee of creditors before obtaining CCI clearance.

This led the Supreme Court to declare the bid invalid.

HNG, one of India’s oldest container glass manufacturers, has been undergoing corporate insolvency since 2021.

Both AGI Greenpac and Independent Sugar Corporation (INSCO) – a sister company of Tanzania’s Kioo Glass – had bid for its…

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Up to 300 property owners have been left in the lurch by the insolvency of the Queensland-based residential construction company. 

Oracle Building Corporation, which traded as both Oracle Platinum Homes and Oracle Hunter Homes, has called in administrators and entered liquidation.

The company, which immediately ceased business and terminated all staff on Wednesday (24 August), operated a business in the residential home construction industry in both Queensland and NSW.

Its activity was primarily focused in South-East Queensland and the Hunter Valley and Central Coast regions of NSW.

Approximately 300 home owners who hold building contracts – ranging from not yet commenced to nearly completed works…

• Foresea Limited targeted businesses with hospitality tickets for the British Grand Prix 
• The company is connected to three similar scam businesses shut down following Insolvency Service investigations.
• Foresea Ltd was wound-up at the High Court in Manchester on 12 February 2025.

A company which offered businesses British Grand Prix hospitality packages they never actually had has been shut down after customers failed to receive tickets they had paid for.

Foresea Limited – originally based in Kent but thought to have changed business address several times – claimed to be a large-scale provider of corporate hospitality, despite never having the tickets to sell.

An Insolvency Service investigation found that clients would be contacted…

• Foresea Limited targeted businesses with hospitality tickets for the British Grand Prix  
• The company is connected to three similar scam businesses shut down following Insolvency Service investigations.  
• Foresea Ltd was wound-up at the High Court in Manchester on 12 February 2025. 

A company which offered businesses British Grand Prix hospitality packages they never actually had has been shut down after customers failed to receive tickets they had paid for. 

Foresea Limited – originally based in Kent but thought to have changed business address several times – claimed to be a large-scale provider of corporate hospitality, despite never having the tickets to sell.

An Insolvency Service investigation found that…

(Statehouse) – Help could be on the way for Hoosiers dealing with medical debt.

The Senate Health and Services Provider Committee unanimously passed Senate Bill 317 after several major rewrites.

If passed and signed into law, Senate Bill 317 would require all Indiana hospitals to give patients information about charitable assistance and payment plans.

The bill stipulates a plan must allow payments to be made over a period of least two years.

A monthly payment may not exceed 10 percent of the person’s monthly income.

The legislation protects wages from being garnished, and prevents liens from being placed on homes due to medical debt but only for Hoosiers who make less than 250 percent of the federal poverty level.

The bill is…