Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Austrian crop protection and pharmaceutical chemicals manufacturer ESIM Chemicals has filed for insolvency at the Regional Court of Linz, potentially impacting
Debt relief Leading international development experts have called for fundamental reforms to the global debt architecture, warning that developing nations
NEW DELHI – The Insolvency and Bankruptcy Board of India Monday suggested that the committee of creditors of a company undergoing corporate insolvency process should mandatorily give reasons for recommending liquidation of the debt-ridden company if the resolution plan of value greater than liquidation value was received.
The reasons for such recommendation must be mandatorily recorded in the minutes of the meeting and furnished along with the liquidation application, said the board in a discussion paper for strengthening safeguards and transparency in the insolvency process. The board has invited comments from the stakeholders on its suggestions by Dec. 8.
Austrian crop protection and pharmaceutical chemicals manufacturer ESIM Chemicals has filed for insolvency at the Regional Court of Linz, potentially impacting 289 employees and nearly 190 creditors. Different reports put its liabilities at just under €110 million, €118 million or over €147 million in the event of liquidation. In its filing, the firm pointed to multiple economic and structural challenges, including:
Rising costs in energy prices and wages
Increasing competition from Asia, where overcapacity has led to reduced prices
Loss of major customer contracts in Q2 and Q3 2025
High fixed costs and a high debt load to current revenue levels
A lack of new business projects and long-term planning security beyond…
From stabbing Jon Snow to axe throwing venue, Anthony McCaughley speaks about his career
Staff at Black Axe Belfast: Will Lavery, manager, Anthony McCaughley, owner/director, Andrew Cassidy, lead instructor
The owner of a Belfast axe-throwing venue has spoken of how he saved an indebted venue from closure after the previous owners went into liquidation.
Anthony McCaughley, 50, became the owner and manager of Black Axe Throwing Co in Belfast last year, when the then-owners revealed the venue was facing shutdown.
Renta 4 | According to an official statement, Revenga Smart Solutions has requested additional time from the Commercial Court to continue negotiating the entry of an investor group into the company’s shareholding structure. To this end, they would have the support of creditors representing more than 59% of total liabilities.
The potential investor group has shown interest in acquiring a significant stake in the company, which gives the viability plan greater visibility.
This request is pending approval by the court.
Assessment: Positive news, as confirmation of the entry of this investor group would represent progress towards resolving the company’s current…
UK rental company Reactive Rentals filed for liquidation just before midnight yesterday.
The company directors, Steve Skeates and Gary Sprecht, instructed FTS Recovery at the end of September to assist them in placing the company into Creditors’ Voluntary Liquidation. That has now gone ahead.
It seems that unsecured creditors are owed almost £2.4 million, many of them other rental companies, while secured creditors are owed just over £100,000, leaving the deficiency at £2,482,788.04. The deadline for filing the latest accounts – for the year to the end of 2024 – was September 30th, but as of yesterday, they had still not been filed. The annual Confirmation Statement was due on…
Liverpool cult hero Steve Finnan is facing a bankruptcy battle following a multi-million pound row between the Champions League winner and his brother.
Irish full-back Steve Finnan, 47, enjoyed a successful Premier League career, winning Champions League and FA Cup winners’ medals while with Liverpool in the 2000s, but has been embroiled in a decade-long legal tussle with his brother Sean after the pair got involved in a disastrous property business together.
The 49-year-old first sued his brother in 2016 after growing concerned with the manner in which the business was being run. The pair agreed a £4million settlement at the High Court in 2018.
However, the former footballer did not receive his money and his brother was declared…
Leading international development experts have called for fundamental reforms to the global debt architecture, warning that developing nations face unprecedented fiscal pressures threatening healthcare, education and climate action investments.
The experts delivered their assessments during a media briefing on November 13 ahead of the Group of 20 (G20) Global Leaders Summit in Johannesburg. Panelists emphasized that Africa and other developing regions are experiencing debt servicing costs that consume substantial portions of government revenues while yielding minimal development returns.
Mahmoud Mohieldin, United Nations (UN) Special Envoy on Financing Sustainable Development, described the situation…
