French Artificial-Heart Pioneer Carmat Faces Liquidation Medscape
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The Chancellor must avoid piling further pressure on British businesses at her upcoming Budget after another 2,000 firms went bust last month, restructuring experts have warned.
A sharp rise in labour costs, stubbornly high inflation and weak consumer confidence have contributed to monthly company insolvency rates being at 30-year highs since 2023.
And official figures from the Insolvency Service published on Friday show no signs momentum is shifting, with 2,000 registered company…
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The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis.
CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following the publication of the draft legislation in May. CIGA is part of the Government’s response to the COVID-19 crisis and introduces a number of “debtor friendly” measures to English restructuring and insolvency law, which up to now has been regarded as “creditor friendly”.
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An extraordinary general meeting of Aker Carbon Capture ASA (under liquidation) (the “Company”) was held today as a digital meeting with online participation.
All resolutions were made in accordance with the proposals set out in the meeting notice published on 29 September 2025.
The general meeting resolved to approve the liquidation settlement and thus to finally liquidate the Company. The Norwegian Register of Business Enterprises has been notified of the resolution, and the Company will shortly be deleted from the register.
Since the general meeting has resolved that the Company is finally liquidated, the extraordinary general meeting previously scheduled for 29 October 2025 cannot take place and is therefore…
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IndusInd International Holdings Ltd (IIHL), the successful resolution applicant for Reliance Capital, informed the National Company Law Appellate Tribunal (NCLAT) on Friday that it has received approval from the Reserve Bank of India (RBI) to change the company’s name and expects the rebranding process to be completed within eight weeks.
The submission came amid an ongoing trademark dispute with Anil Ambani’s Anil Dhirubhai Ambani Ventures Pvt Ltd (ADAVL), which claims ownership of the ‘Reliance’ brand name.
ADAVL argues that a 2014 licensing agreement that had allowed Reliance Capital to use the brand was terminated in June 2021, well before the initiation of the Corporate Insolvency Resolution Process (CIRP). It contends that IIHL has…
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Company insolvencies in Scotland saw a sharp increase in September 2025, rising 41% compared to the same month last year.
Official figures show 103 companies became insolvent. This total was comprised of 50 creditors’ voluntary liquidations (CVLs), 48 compulsory liquidations, and five administrations.
Despite the monthly surge, the overall insolvency rate for the year to September 2025 showed a slight improvement. The rate was 52.2 per 10,000 active companies, a minor decrease from the previous 12-month period.
…
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The Group of Twenty (G20) Finance Ministers and Central Bank Governors has reaffirmed its strong commitment to help low- and middle-income countries manage debt vulnerabilities through comprehensive and systematic approaches. This commitment, contained in the Ministerial Declaration on Debt Sustainability issued on Thursday, underscores the bloc’s recognition that debt distress remains a key obstacle to inclusive global growth.
The statement was adopted at the conclusion of the fourth G20 Finance Ministers and Central Bank Governors meeting held in Washington, D.C., USA, on the sidelines of the International Monetary Fund (IMF) and World Bank Annual Meetings.
In the…
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Personal insolvencies jumped by 7% annually in September London Evening Standard
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Lithuanian AI startup Supernaut AI has raised a €530,000 pre-seed investment from Helsinki- and Vilnius-based venture capital fund Superhero Capital.
Supernaut AI is building an “AI-native” tool for engineering teams, designed to accelerate software development by automating repetitive, time-consuming tasks and turning them into tested, documented code within minutes. The solution integrates with commonly used work platforms such as Jira and GitHub, acting as a proactive team member that helps resolve stalled tickets that often lack time or motivation to be addressed.
Supernaut AI stands out from competitors (such as individual developer tools like Vibe Coding) by focusing on team-based workflows. …
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A CARMARTHENSHIRE woman accused of conspiring with her secret lover to murder her husband has told a jury the alleged plot was nothing more than “a fantasy” that spiralled out of control.
Ethel “Michelle” Mills, aged 46, of Llangennech, is on trial at Swansea Crown Court alongside ex-Royal Marine Geraint Berry, 46, from Clydach, and Steven Thomas, 47, from Blaengwynfi. All three deny conspiring to murder her husband, Christopher Mills, a former soldier.
The court heard that on the night of September 20, 2024, two masked men armed with imitation handguns forced their way into a static caravan in Cenarth, Carmarthenshire, where Mr Mills and his wife were sitting watching television. The intruders carried a…
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The number of people going financially insolvent across England and Wales in September was 7% higher than a year earlier, according to Insolvency Service figures.
Some 11,101 people entered insolvency in England and Wales, which was 3% lower than in August 2025 but 7% higher than in September 2024.
This was made up of 622 bankruptcies, 3,985 debt relief orders (DROs) and 6,494 individual voluntary arrangements (IVAs).
DRO numbers in September 2025 were 5% lower than a record high seen in August 2025, but remain at the historically high levels seen over the past 18 months, the service said.
A £90 admin fee to obtain a DRO was abolished in April 2024.
In June 2024, the criteria for DRO eligibility were…
