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The National Company Law Appellate Tribunal's (NCLAT) recent decision upholding the liquidation of Independent TV Ltd. marks a significant reaffirmation
The former AC Milan owner Yonghong Li has been declared bankrupt over money that he owes to creditors, a report claims.
According to official Hong Kong court documents seen by Calcio e Finanza, the Chinese businessman was declared bankrupt last July due to unpaid debts of $280m, with a liquidation hearing scheduled for next January.
In fact, the decision came last July at the end of a proceeding brought by five investment funds based in the Cayman Islands, indirectly controlled by China CITIC Financial AMC International Holding Limited, a Chinese state-owned group listed on the Hong Kong Stock Exchange.
Yonghong Li declared bankrupt
At the heart of the case is a debt of $289.17m (approximately €250m) relating to the personal guarantee Li…
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Diamond Comics UK’s management team has purchased the business after the comic book distributor’s US parent company filed for bankruptcy.
The deal was backed by Barclays, which provided a £1.39m term loan through the Government Growth Scheme (GGS). The management team submitted a bid and secured court approval on 25th August 2025, and the buyout was completed in mid-September.
The deal ensures that 300 UK businesses can continue sourcing from a UK partner. This will enable them to avoid the higher costs, potential US tariffs and logistical challenges associated with sourcing from multiple international distributors. More than 60 jobs in Cheshire were also safeguarded because of the deal.
The U.S. may have transferred over $800 million of its IMF reserves to Argentina, in a transaction that occurred just before a crucial debt payment.
Argentina Taps US Swap to Repay IMF?
The U.S. Treasury’s “special drawing rights” (SDRs) at the IMF, which can be used to pay off debts or exchanged for other currencies, decreased by $870 million last month. This aligned with a similar rise in Argentina’s SDR account, occurring just before the country was scheduled to make an $840 million payment to the IMF on Nov. 1, according to official data from the IMF.
It is not confirmed that Argentina’s higher SDR holdings resulted from drawing on its U.S. swap line, and the usage of the swap funds or their purpose remains unclear….
The National Company Law Appellate Tribunal’s (NCLAT) recent decision upholding the liquidation of Independent TV Ltd. marks a significant reaffirmation of one of the Insolvency and Bankruptcy Code’s (IBC) core principles time-bound resolution. In dismissing Reliance Realty Ltd.’s appeal and directing that liquidation be completed “in the shortest possible time,” the NCLAT has sent a strong signal to stakeholders: liquidation is not to be stalled by belated claims or procedural manoeuvres.
Background: From Lease to Liquidation
The dispute traces back to 2017, when Reliance Realty leased a portion of its Dhirubhai Ambani Knowledge City (DAKC) premises to Independent TV for operating its direct-to-home (DTH) services. Payments…
Insolvency-related activity rose by 17% in Scotland last month, says R3, the UK’s restructuring, turnaround and insolvency trade body. R3’s analysis of data provided by CreditSafe indicated an increase in insolvency-related activities from 106 in September to 124 in October.
October 2025 figures are 9% higher than the same period in 2024, which saw a spike in insolvency activity.
The monthly increase in insolvency-related activity, which includes administrator and liquidator appointments together with creditors’ meetings, is a trend mirrored in the vast majority of the rest of the UK, with a decrease only in Wales.
Emma Widdowson, Chair of R3 in Scotland and Legal Director at Addleshaw Goddard said “The rise…
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