Insolvency Guardian Media Centre
According to the Central Bank of Iran, all branches of Bank Ayandeh transfer to Bank Melli, and depositors are able to receive their banking services at the same previous branches [Getty]
Iran declared one of the country’s largest private banks bankrupt with its assets absorbed by the state, official media reported Saturday, in a rare move in the country grappling with international sanctions.
Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone.
But it had more recently been crippled by debt, with accumulated losses amounting to the equivalent of about $5.2 billion and roughly $2.9 billion in debts, according to the ISNA news agency.
On Saturday, queues of…
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Queues, panic, $5bn collapse as Iran’s largest private bank goes bankrupt Punch Newspapers
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Iran declared one of the country’s largest private banks bankrupt with its assets absorbed by the state, official media reported Saturday, in a rare move in the country grappling with international sanctions.
Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone. But it had more recently been crippled by debt, with accumulated losses amounting to the equivalent of about $5.2 billion and roughly $2.9 billion in debts, according to the ISNA news agency.
On Saturday, queues of customers could be seen outside a former Ayandeh Bank branch in Tehran, with police also present, an AFP journalist reported.
The state-owned Melli Bank has absorbed the assets of…
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Social media has become the go-to place for quick financial fixes, but new research reveals just how dangerous debt advice on social media can be.
A joint study from credit management company Lowell and free debt advice provider Money Wellness found that almost two-thirds (64.22%) of debt advice circulating on TikTok, Facebook, and Reddit is misleading, while an overwhelming 98.27% is unreliable.
With over 10.1 million people in the UK currently over-indebted (FCA Credit & Loans survey), many turn to online communities for support. But according to the study, the loudest voices in debt advice on social media can leave vulnerable people at risk of worsening their financial difficulties.
Experts brand 64% of debt advice on…
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Administrators are on standby this weekend to handle the collapse of Petrofac, the oil and energy services group – an insolvency which could threaten the future of more than 2,000 jobs in Scotland.
Sky News has learnt that directors of Petrofac have lined up Teneo for an administration process which could be confirmed as early as Monday morning.
The company’s board, chaired by former Anglo American finance director Rene Medori, is said to be holding emergency talks this weekend.
One industry executive said a decision to file for administration was likely to be taken before the stock market opens on Monday.
Ed Miliband, the energy secretary, and other ministers have been briefed on the situation, with more than 2,000…
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Lim Hyo-sung, a former basketball player, confessed his conflict with his wife, Shu.
On the 24th, on the YouTube channel ‘Human That’s Shoo’, the second episode of marital counseling! Let’s see…Will counseling be helpful?A video titled ‘ was posted.
Lim Hyo-sung and his wife went to counseling last week. The two decided to take individual counseling. Lim Hyo-sung confessed that there is a great anxiety about the future and that there is anxiety about his ability because he has only been exercising since he was a child and has never learned anything else.
Lim Hyo-sung said, “After more than three years of working, I ran, and after I found stability and solved everything, I felt a lot of emptiness….
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Let’s talk straight: life in South Africa is financially brutal right now. Food prices are climbing, electricity is unpredictable, and jobs are scarce. For many, the pressure is relentless. So when gambling flashes its neon promises, quick wins, instant cash, a way out, it’s tempting. But here’s the truth: gambling is not a financial strategy. It’s a trap disguised as hope.
According to the National Gambling Board, South Africans wagered over R1.14 trillion in the last financial year. That’s not just a few Lotto tickets or a night at the casino; that’s a nation in distress. And it’s not just about entertainment anymore. The 2024 Old Mutual Savings and Investment Monitor found that 36% of gamblers say they do it to pay off…
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Let’s talk straight: life in South Africa is financially brutal right now. Food prices are climbing, electricity is unpredictable, and jobs are scarce. For many, the pressure is relentless. So when gambling flashes its neon promises, quick wins, instant cash, a way out, it’s tempting. But here’s the truth: gambling is not a financial strategy. It’s a trap disguised as hope.
According to the National Gambling Board, South Africans wagered over R1.14 trillion in the last financial year. That’s not just a few Lotto tickets or a night at the casino; that’s a nation in distress. And it’s not just about entertainment anymore. The 2024 Old Mutual Savings and Investment Monitor found that 36% of gamblers say they do it to pay off…
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The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 aims to increase efficiency, speed and transparency. On the surface, the move to speed up and increase certainty in India’s insolvency regime appears to be the change we have been asking for. Reducing delays, strict deadlines and empowering creditors are the goals.
However, if we look a little closer, we will see that the Bill is likely to disrupt the delicate balance between fairness and finality – which is at the heart of the Code – in its fervour to eliminate delays at the procedural level.
The IBC has always been about giving distressed businesses a fair opportunity to seek revival. Over the years, the judiciary has tried its utmost to honour this ethos in its decisions,…
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NCLT Bengaluru Refuses To Halt Aakash Educational’s Rights Issue Amid Byju’s Insolvency Dispute BW Legal World
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These statutes constitute vital lifelines of Indian trade and commerce. While IBC focuses on corporate debt resolution, the remaining two address maritime claim enforcement. In common parlance, maritime liens are security interest recognized under maritime law, attaching to a vessel, certain types of claims such as seafarers’ wages, salvage, or damages from collision. These rights exist independent of possession, travel with the ship, and are enforceable through in rem actions – that is, claims directed against the vessel itself rather than its owner – whereas IBC proceedings are in personam in nature, targeting the corporate debtor.