A good week after filing for insolvency, business operations at insolvent Kiekert AG are running smoothly again. All orders are being produced and delivered as usual. This was announced today by the provisional insolvency administrator of Kiekert AG, solicitor Joachim Exner from the law firm Beck & Partner.

Immediately after the insolvency application, Exner contacted Kiekert AG’s customers and suppliers to ensure that business operations could continue during the preliminary insolvency proceedings. ‘Customers and suppliers value Kiekert AG as a reliable business partner and have pledged their support for the restructuring process that has now…

The National Company Law Appellate Tribunal has set aside the NCLT order admitting Mahagun (India) Pvt Ltd into corporate insolvency, holding that the adjudicating authority failed to grant the corporate debtor adequate opportunity to file a detailed reply before reserving orders.

The Tribunal directed that the Section 7 petition filed by IDBI Trusteeship Services Ltd be reconsidered in accordance with law and in light of the Supreme Court’s judgment requiring project-specific treatment of real estate insolvency.

The matter was decided by a Bench comprising Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member Technical).

The Bench noted that although the NCLT had granted one week’s time on 13.06.2025 for filing a reply, only a…

For consumers managing credit card debt, here’s how to research options and avoid promises that may not deliver – like someone claiming to repair bad credit overnight.

DIGGING OUT OF DEBT

The Texas Office of the Consumer Credit Commissioner regulates some debt management companies doing business with Texans.

Christine Graham, director of consumer protection at the Texas OCCC, explains that there are two basic sets of providers required to register with the state: consumer credit counseling services and debt negotiators.

There are debt counselors who can help consumers work with creditors to lower interest rates and fees, bring accounts current, and make a plan to repay debt. Often, these are…

Four Dutch entities in the MPS Group were declared bankrupt via the Dutch court system.

MPS Holding, MPS Systems, MPS Service & Commissioning and MPS Supply Chain have been declared bankrupt in the Netherlands as of October 28. There are currently no official court reports, but those affected can get official updates via the Dutch Central Insolvency Register.

MPS has shared that all production for orders and deliveries placed before the bankruptcy notice, including the shipping of new equipment, will be suspended. However, existing customers can still order spare parts, tooling, and consumables during the process.

Eric Looijen, from Stellicher Advocaten legal services, has been appointed as the trustee for the…

Over the last two years, thousands of New Orleanians have opened letters from Undue Medical Debt — or maybe they didn’t, assuming it was junk mail or another bill collector notice.

It wasn’t.

The national nonprofit works with hospitals, local governments and donors to buy and erase unpaid medical bills. The letter was notifying residents that some, or all, of their medical debt had been wiped away.

“It’s really a surprise for most people,” said Ruth Landé, vice president of provider relations at Undue Medical Debt. “They get a letter in the mail telling them their debt is gone — no application, no process, no strings attached.”

New Delhi: The government is gearing up to make some of the biggest changes yet to the Insolvency and Bankruptcy Code (IBC) in the upcoming winter session of Parliament. While the law has seen several amendments since it was first introduced in 2016, the proposed IBC Amendment Bill 2025 is expected to be the most impactful.

Experts, as quoted by ZeeBiz, say that this move could strengthen the real purpose of “Ease of Doing Business”, especially since it may revise Section 29A, which currently prevents a company’s promoters and their blood relatives from taking part in the insolvency resolution process.

What is Section 29A of the IBC?

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