Insolvency Guardian Media Centre
An American buyer is reportedly swooping in to save struggling Aussie airline Rex from administration. The regional airline collapsed into voluntary administration in July last year.
The Australian Financial Review and Sydney Morning Herald have reported Nasdaq-listed US aviation company Air T has agreed to buy Rex. Sources told the publications the terms of the deal could be released as early as this week, with parties due to sign as early as Monday.
Air T operates various aviation businesses in the US, including FedEx flights and freight flights for charter companies. The company also notably has access to spare parts…
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Advocates cheer as Trump admin agrees to student loan forgiveness deal The Hill
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Regional airline Rex has a US buyer, administrators have confirmed.
The announcement on Tuesday evening comes more than a year after the airline entered voluntary administration.
Air T – which operates a number of aviation businesses in the US – has entered a sale and implementation deed with EY, the administrators of Rex.
“The sale and implementation deed is subject to customary conditions precedent for a transaction of this type including receipt of regulatory approvals and approval by creditors,” the administrators’ announcement said.
The estimated return to the airline’s creditors is being determined.
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Rex is set to leave voluntary administration and avoid a government takeover after being sold to a US-based buyer.
“As outlined in Rex’s ASX release on 17 June 2025, the Administrators have received a number of offers from interested parties in connection with the process for the sale and/or recapitalisation of the Group,” the administrators wrote.
“Having considered those offers as part of the sales process, the Administrators are pleased to confirm they have now entered into a Sale and Implementation Deed with Air T, Inc., which will result in the sale and recapitalisation of the business operations conducted by the Group.
“No return to shareholders is anticipated. An update will…
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Regional airline Rex has a US buyer, administrators have confirmed.
The announcement on Tuesday evening comes more than a year after the airline entered voluntary administration.
Air T – which operates a number of aviation businesses in the US – has entered a sale and implementation deed with EY, the administrators of Rex.
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“The sale and implementation deed is subject to customary conditions precedent for a transaction of this type, including receipt of regulatory approvals and approval by creditors,” the administrators’…
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Supreme Court: The Division Bench of J.B. Pardiwala and K.V. Viswanathan, JJ., issued notice to the respondents, returnable in four weeks, in a civil appeal raising following two significant questions of law:
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whether the Insolvency and Bankruptcy Code, 2016 (‘IBC’) overrides the provisions of the Industrial Disputes Act, 1947 (‘ID Act’).
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whether a Resolution Professional (‘RP’) could lawfully retrench employees under the guise of a lay-off during the corporate insolvency resolution process.
The present appeal was preferred by United Machines Karamchari Sangh (‘Appellant’) challenging the order passed by National Company Law Appellate Tribunal (‘NCLAT’). By the said order, the NCLAT dismissed the appellant’s…
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Millions of student loan borrowers can breathe a sigh of relief now that the Department of Education has agreed to restart some major loan forgiveness programs.
The White House said this week it will again start processing loan forgiveness for eligible borrowers in two different income-driven repayment plans that it had put on pause.
“Quite frankly, this is huge,” Erica Sandberg, consumer finance expert at BadCredit.org, told The Post. “It will take millions of borrowers out of limbo.”
Why was student loan forgiveness paused?
In February, an appeals court upheld a ruling that blocked a Biden-era repayment program known as…
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Global insolvencies to peak in 2026 amid trade shifts: Allianz Insurance Business America
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The National Company Law Tribunal (NCLT) in Ahmedabad has admitted BluSmart Mobility Tech Private Limited, the technology arm of the electric taxi fleet operator BluSmart, into corporate insolvency. The order was passed on October 14, 2025, on a petition filed by one of its software vendors.
The tribunal’s decision came on an application filed by Lepton Software Export and Research Private Limited, a reseller of Google Maps platform products. Lepton Software sought the initiation of a Corporate Insolvency Resolution Process (CIRP) against BluSmart for defaulting on an operational debt of Rs. 5,84,43,201.76.
This amount includes a principal of over Rs. 5.39 crore for unpaid invoices for “Google On-demand Rides and…
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The National Company Law Tribunal (NCLT), Cuttack Bench, has admitted Bhilai Jaypee Cement Limited for corporate insolvency after it defaulted on an operational debt of over Rs 45 crore owed to a coal supplier.
The order was passed on October 15, 2025, by a bench comprising Member (Judicial) Deep Chandra Joshi and Member (Technical) Banwari Lal Meena, allowing a petition filed by Siddhgiri Holdings Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016.
The dispute arose from three purchase orders placed by Bhilai Jaypee Cement in late 2021 and early 2022 for the supply of 6,000 metric tonnes of coal. Siddhgiri Holdings supplied the coal and raised multiple invoices between September 2021 and…
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U.S. fashion and footwear firms are in good shape, compared with other categories when it comes to corporate bankruptcies.
Thus far in 2025, there’s been just two fashion firm bankruptcies with liabilities over $1 billion — Claire’s Holdings LLC in August and Forever 21’s U.S. store operator and brand licensee F21 OpCo LLC in March — according to S&P Global Market Intelligence. That’s just two fashion-related companies out of the 26 firms that filed with more than $1 billion in liabilities. High on this list are firms in the healthcare category and information technology. Consumer discretionary, made the list too, but the other bankrupt firms in the category — such as home fashion retailers At Home Group Inc. in June…