Equans is set to take a near £5m hit from the liquidation of the private finance initiative (PFI) company that previously had responsibility for schools in Stoke-on-Trent.

Transform Schools (Stoke) Ltd (TSSL), a PFI vehicle that built and maintained the city’s schools under a 25-year contract with City of Stoke-on-Trent Council, announced in November that it would appoint liquidators.

Equans was the primary maintenance contractor working for TSSL in recent years.

The PFI contract came to an end in October with millions of pounds of maintenance work across 88 schools incomplete, according to the local authority.

A statement from the council at the time said it was drawing up deals with “the main contractor” to continue outstanding…

Fewer companies went through the insolvency process under the Insolvency and Bankruptcy Code (IBC) in financial year (FY) 2025, according to the credit rating firm ICRA.

As per the ICRA, only 724 companies were admitted for insolvency, a sharp 28 per cent drop from 1,003 in the previous year.

The number of approved resolution plans also dipped slightly to 259 from 263 last year.

Under the IBC, introduced in 2015, authorities try to streamline the process of resolving financial distress and insolvency of companies and individuals. The IBC offers a framework for prompt and effective resolution with the dual goals of protecting creditors…

The Madras High Court has recently held that once a resolution plan is approved under the Insolvency and Bankruptcy Code, authorities cannot proceed against any property standing in the name of a corporate debtor for offences committed before the insolvency process, even if such property is alleged to be held benami. A single bench of Justice G R Swaminathan ruled that Section 32A(2) of…

A couple who sold cannabis and magic mushrooms were caught “red handed” after police spotted their car was not insured.

Jamie Redington and Katie Whiley were pulled over by officers on Dereham Road, Norwich, after their Ford Focus was flagged as uninsured.

Norwich Crown Court heard police became aware of a strong smell of cannabis coming from the vehicle, which they then searched.

Norwich Crown Court (Image: Peter Walsh, Newsquest)

Chris Youell, prosecuting, said Redington, 37, and Whiley, 34 were “caught red-handed” with cannabis as well as magic mushrooms – a class A drug – found in the car, on August 15 last year.

Magic mushrooms (Image: Newsquest)

Police also found a knuckle duster in the door of the car and seized mobile phones.

On…

Jamie Redington and Katie Whiley were pulled over by officers on Dereham Road, Norwich, after their Ford Focus was flagged as uninsured.

Norwich Crown Court heard police became aware of a strong smell of cannabis coming from the vehicle, which they then searched.

Norwich Crown Court (Image: Peter Walsh, Newsquest)

Chris Youell, prosecuting, said Redington, 37, and Whiley, 34 were “caught red-handed” with cannabis as well as magic mushrooms – a class A drug – found in the car, on August 15 last year.

Magic mushrooms (Image: Newsquest)

Police also found a knuckle duster in the door of the car and seized mobile phones.

On Whiley’s phone they discovered messages advertising magic mushrooms for sale at £50 for…

Jamie Redington and Katie Whiley were pulled over by officers on Dereham Road, Norwich, after their Ford Focus was flagged as uninsured.

Norwich Crown Court heard police became aware of a strong smell of cannabis coming from the vehicle, which they then searched.

Norwich Crown Court (Image: Peter Walsh, Newsquest)

Chris Youell, prosecuting, said Redington, 37, and Whiley, 34 were “caught red-handed” with cannabis as well as magic mushrooms – a class A drug – found in the car, on August 15 last year.

Magic mushrooms (Image: Newsquest)

Police also found a knuckle duster in the door of the car and seized mobile phones.

On Whiley’s phone they discovered messages advertising magic mushrooms for sale at £50 for…

Sri Lanka will co‑host the 2026 Asian Regional Debt Management Conference, following Cabinet approval of a proposal presented by President Anura Kumara Dissanayake, in his capacity as Minister of Finance, Planning, and Economic Development.

The annual conference, organized by the Asian Development Bank, brings together debt managers from member countries to share experiences, address challenges, and strengthen regional cooperation in public debt management.

Scheduled for late May 2026, the conference will run for four to five days and include surveys and technical workshops focusing on debt management operations, emerging challenges, and new approaches. 

Representatives from ministries of finance, central banks, debt management…