The Select Committee on Insolvency and Bankruptcy Code (Amendment) Bill, 2025 has invited views and suggestions from experts, industry bodies and stakeholders to “strengthen India’s insolvency framework”. The 24-member parliamentary committee, chaired by Baijayant Panda, was formed on October 1, and the panel is currently reviewing the amendment Bill. It will submit its recommendations to the government after consulting with stakeholders.

In a note, PwC said that Bill pays particular attention to issues flagged by courts and practitioners, the complexities arising in group and cross-border insolvency, and the misuse of withdrawal and moratorium provisions by promoters and other stakeholders.

“The latest amendments are the…

• The Sevilla Forum on Debt, led by Spain, will be a new dialogue hub on debt, bringing together all stakeholders, creditors, borrowers, international financial institutions and academia on debt sustainability, management and innovative solutions.

• Global public debt reached $102 trillion in 2024, with developing countries owing $31 trillion and paying $921 billion in interest.

• The United Nations, through UN Trade and Development (UNCTAD) and the United Nations Department of Economic and Social Affairs (UN DESA), will provide expertise and support to the initiative.

UN…

Anka, the pan-African e-commerce platform for African creators formerly known as Afrikrea, has been acquired by the newly-formed Global Shop Group for an undisclosed sum, approximately two months after its French parent company MANSAART entered judicial liquidation.

The acquisition represents a rapid and forced sale following the collapse of the venture-backed startup’s parent entity. Court records from the Paris Economic Activities Court show that MANSAART (RCS 822 174 199) entered judicial recovery proceedings — a French procedure similar to Chapter 11 bankruptcy — on July 1, 2025.

The recovery attempt failed swiftly. The procedure was converted to judicial liquidation, akin to a Chapter 7 bankruptcy, on July 29,…

• Karen Mortimer and Joanna Seawright have been disqualified for their part in a scheme designed to subvert insolvency legislation 

• Both facilitated the Atherton corporate rescue scheme by becoming directors of a combined 138 struggling companies without independently verifying their financial positions, failing to look into the location of more than £42 million in assets and leaving creditors with combined debts exceeding £67 million 

• Mortimer and Seawright did not dispute their misconduct and agreed to be disqualified for seven years rather than taking the case to court 

Two key enablers of a scheme designed to undermine insolvency legislation by allowing business owners to keep their assets and…

A special debt relief programme, designed to assist households and businesses struggling with old debt, was discussed at an eThekwini Municipality finance committee meeting on Wednesday.

The extension of the special debt relief programme, which aims to assist domestic and business customers with a 50% debt write-off on their arrears, still requires approval from the eThekwini council, meeting next Thursday.

According to the committee report, by the end of the 2024/25 financial year, the council had made a provision of R27 billion for doubtful debts on consumer accounts. As of September 30, 2025, the debtors over 91 days were R30 billion. 

The programme is expected to write off arrears debt as of January 31, 2025, on condition…

Warning: This article contains discussion of gambling addiction which some readers may find distressing.

A former gambling addict has opened up about her regret of joining OnlyFans to pay off her debts.

At the peak of Elisha Cook’s seven-year gambling addiction, she racked up £20,000 worth of debts from mobile slot machines.

Now 28, the mum from Bournemouth has revealed that she has ‘lost around £200,000 from gambling in total’.

The TikTok creator, who joined OnlyFans in April 2024, said: “I was just trying to make money [on the slot machines], but it was enjoyable as well when I was in the zone, thinking about the potential of a big win.

“I turned £10 into £20, so I thought I could double larger amounts.

“Next I turned £1,000 into…

Stunt Acquisitions Limited was issued with a winding-up petition over an unpaid debt in June and was wound up by a judge at a specialist insolvency court on Wednesday.

Records on Companies House show that Mr Stunt, the former son-in-law of Formula 1 tycoon Bernie Ecclestone, was a director of the company from 2014 to 2019.

The 43-year-old was appointed again in April this year and is the company’s only listed director.

Westminster City Council issued the winding-up petition against the firm earlier this year.

Barristers for the authority told a hearing in London on Wednesday that it had rejected an offer of Rolex watches as security for the outstanding debt.

William Kitchen, for the company, said: “We are seeking to settle this…