The National Company Law Tribunal (NCLT) Mumbai bench admitted a petition under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Unity Small Finance Bank Limited against Bafna Motors Private Limited holding that defaults committed after section 10A period are sufficient to trigger Corporate Insolvency Resolution Process (CIRP). It further held that interest liability shall not come to an end merely on the ground that default of principal amount fell during 10A period.

Three in five low-paid workers have skipped meals, cannot heat their homes or have taken out a payday loan to cover essential supplies. Additional research also shows that three-quarters of people in debt are struggling with repayments. Finance expert Laura Pomfret explains that this is where you join all your debts together.

To watch this with subtitles, go to BBC iPlayer and search for Morning Live from 20/10/2025.

On October 14^th 2025, the Insolvency and Bankruptcy Board of India (IBBI) has issued Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Sixth Amendment) Regulations, 2025. By exercising its power conferred by virtue of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016, the IBBI has released the said amendment.

Liquidators are counting up the debts of Christchurch glass and plastic jar supplier Croftpak Ltd as estimates climb to more than $914,000.

Unsecured creditors are unlikely to be repaid as the company is short on funds to cover debts to 39 creditors.

Rodgers Reidy insolvency practitioners Lynda Smart and Derek Ah Sam were appointed liquidators of the company by shareholder Gregory Croft on October 1 and have put out a first report.

The company, formed in 2003, has ceased trading, with the liquidators taking possession of assets to be sold.

Mr Croft, who is the sole director, told them the company struggled because of historic costs from Covid-19 and was unable to recover afterwards.

“All employee contracts were terminated upon the…

Earlier this month, Food Manufacture revealed that ice cream supplier Joe Delucci’s Ltd had appointed liquidators.

Managing directors and insolvency practitioners Andrew Watling and Duncan Beat from business advisory firm Quantuma, were appointed as liquidators for the West Midlands-based business on 25 September 2025.

The company has had a number of administrations over the last few years, with this latest turn of events said to be a result of incidents occurring in 2023.

Established in 2022, Joe Delucci traded as a wholesaler but also operated an ice cream parlour in Westfield shopping centre. Two other sites in Brent Cross and Brighton were operated by franchisees.

In a statement, Quantuma said: “The Company’s financial…

Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales fell by 1.7% in August 2025 to a total of 2,048 compared to July 2025’s total of 2,083, and increased by 5.9% compared to August 2024’s figure of 1,933.

The insolvencies consisted of 281 compulsory liquidations, 1,578 creditors’ voluntary liquidations (CVLs), 124 administrations and 17 company voluntary arrangements (CVAs). There were no receivership appointments.

CVLs accounted for 79% of all company insolvencies. The number of CVLs was similar to both August 2025 and the same month last year (September 2024).

The number of compulsory liquidations was 9% lower than in August 2025, but 17% higher…

Laure Ferrari’s company, Baxter Laois Limited, recently faced liquidation amidst allegations of financial irregularities. This development follows the company’s striking off from the Companies House, carrying debts estimated at £11,000. Adding layers to the situation, Ferrari is reportedly under scrutiny for a fraud investigation related to the Institute for Direct Democracy in Europe (IDDE), a think tank she previously led. Understanding how these events unfold is crucial for stakeholders and observers.

Financial Troubles at Baxter Laois Limited

Baxter Laois Limited, known for selling gin linked to prominent political figure Nigel Farage, has encountered significant financial issues. According to Companies House records, the…

The trust could provide additional financial support

Brits in debt with a number of energy firms across the UK could benefit from additional financial support under one major energy company’s trust.

The British Gas Energy Trust, an independent charity funded by British Gas, provides grants to eligible customers who meet a set of criteria.

Under the Individual and Families Fund, households who ae up to £1,700 in debt on their energy accounts may be eligible for support.

This support can be offered either if the individual uses a prepayment meter or a credit account.

READ MORE: Woman, 35, tells of distress after hundreds of ladybirds invade her home

While consolidation can look like an easy fix, it can quickly make things worse if used in the wrong circumstances.

Some consolidation loans are secured, meaning your home or another asset is used as collateral. If you fail to meet repayments, the lender can repossess that asset to recover the money owed.

Even with unsecured loans, a longer repayment term can be misleading. A loan that cuts your monthly bill from £200 to £120 can sound attractive, but if it stretches over five or six years instead of three, you will pay far more overall.

There’s also a behavioural risk. Many people clear their credit cards with a new loan, then start using those cards again. That leads to two layers of debt rather than one and often a worse financial…