Three German subsidiaries of Belgian chemical giant DOMO Chemicals have filed for insolvency, the companies have confirmed. DOMO Chemicals GmbH, DOMO Caproleuna GmbH, and DOMO Engineering Plastics GmbH are affected. 

The local court has appointed Lucas F Flöther, a name partner at law firm Flöther & Wissing, as preliminary insolvency administrator. Flöther said he plans to continue business operations while reviewing restructuring options. 

“Day-to-day operations are continuing at all locations. Manufacturing and customer deliveries remain uninterrupted,” Flöther emphasised. He and his team are already on site informing the roughly 585 employees about the situation. Wages and salaries are secured for the next three months…

The Insolvency and Bankruptcy Code (IBC) framework in 2025 was marked by mounting stress on timelines and capacity, with resolution processes stretching far beyond the statutory limits, despite efforts by the National Company Law Tribunal (NCLT) to cope with its limited capacity.

Senior advocates and legal industry experts have voiced concerns over systemic delays, pointing to nearly 10,000 cases stuck at the admission stage, with recovery worth more than ₹10 lakh crore locked in distressed assets, and to almost 24 of the 30 NCLT courts operating on half-day schedules.

Delays stem not only from limited capacity but also from repeated adjournments, contested defaults, and excessive litigation under Section 60(5) of IBC.

When asked…

The National Company Law Tribunal (NCLT) at New Delhi has held that advances paid for the supply of raw material under a job work arrangement can be treated as corporate insolvency resolution process costs if they were necessary to keep the corporate debtor functioning as a going concern during CIRP. A coram of President Justice Ramalingam Sudhakar and Technical Member Ravindra Chaturvedi…

• Kuwait disburses 15.37 million dinars in third national debt relief campaign, lifting burdens from 2,635 families
• Third debt settlement drive achieves record results, reinforcing Kuwait’s social protection and humanitarian commitment
• Ministry of Social Affairs and partners complete landmark campaign to restore financial stability to struggling citizens
• Amounts range from 5,000 to 16,500 dinars, in line with transparent eligibility criteria designed to ensure fairness and reach those most in need.
• Applications exceeding 9,000 were carefully reviewed, excluding cases previously addressed or those involving telecommunications or government debts, to guarantee that the campaign’s funds reached deserving beneficiaries.

The…

Senior advocates and legal industry experts have voiced concerns over systemic delays, pointing to nearly 10,000 cases stuck at the admission stage, with recovery worth more than Rs 10 lakh crore locked in distressed assets, and to almost 24 of the 30 NCLT courts operating on half-day schedules.

Delays stem not only from limited capacity but also from repeated adjournments, contested defaults, and excessive litigation under Section 60(5) of IBC.

When…

New Delhi, Dec 31 (PTI) The Insolvency and Bankruptcy Code (IBC) framework in 2025 was marked by mounting stress on timelines and capacity, with resolution processes stretching far beyond the statutory limits, despite efforts by the National Company Law Tribunal (NCLT) to cope with its limited capacity.
     Senior advocates and legal industry experts have voiced concerns over systemic delays, pointing to nearly 10,000 cases stuck at the admission stage, with recovery worth more than Rs 10 lakh crore locked in distressed assets, and to almost 24 of the 30 NCLT courts operating on half-day schedules.
     Delays stem not only from limited capacity but also from repeated adjournments, contested defaults, and excessive litigation…

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Senior advocates and legal industry experts have voiced concerns over systemic delays, pointing to nearly 10,000 cases stuck at the admission stage, with recovery worth more than Rs 10 lakh crore locked in distressed assets, and to almost 24 of the 30 NCLT courts operating on half-day schedules.

Delays stem…

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Publisher of Oil & Gas Report, Toyin Akinosho, has said the controversy surrounding the Federal Government’s reported write-off of NNPC’s debts should not be misconstrued as proof that the national oil company is insolvent, stressing that the issue is rooted in accounting reconciliation rather than financial collapse.

Speaking during an interview with ARISE News on Tuesday, Akinosho said public outrage was understandable but cautioned against mischaracterising how profit, debt and reconciliation work in corporate accounting.

“I share the concern that most Nigerians genuinely feel that NNPC is punching below its weight,” he said. “So whenever we hear news like this, it’s something that everybody…