Insolvency Guardian Media Centre
More than $1m paid out: Liquidation of South Canterbury business continues The Press
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The Department of Education is working through a backlog of income-driven repayment applications.
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Advocates are urging quick processing before borrowers face new taxes on student-loan forgiveness next year.
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Debt relief through income-based repayment plans is also delayed until the winter.
The clock is ticking for President Donald Trump’s administration to work through a student-loan forgiveness backlog.
Since Trump took office, his Department of Education has been processing a slew of income-driven repayment applications and filings for debt forgiveness, known as buybacks, tied to extra payments for the Public Service Loan Forgiveness program, before changes to those plans go into effect next year.
The processing…
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UN Reforms Latest News
- India’s External Affairs Minister S. Jaishankar addressed the 80th session of the UN General Assembly.
- During this speech, he emphasised that the UN must be reformed and member states — led by active Global South contributors like India — must strengthen cooperation, confront terrorism, and restore multilateral credibility to meet 21st-century challenges.
UN General Assembly
- The UN General Assembly (UNGA) is the main deliberative, policymaking and representative organ of the United Nations.
- All 193 UN member states are members (each with one vote). The Holy See and Palestine are permanent observers.
- It provides a global forum for multilateral discussion of…
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The Seville Commitment: A Pact Against Poverty BORGEN Magazine
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Key points for asset-based lenders
We explore the implications for the Act in the context of asset-based lending below. Key points to note are:
- The Act introduces a new “moratorium” procedure allowing eligible companies to continue to trade whilst being protected from creditors who may not take enforcement steps against them. The moratorium is a rescue process intended to give the company a breathing space to allow time to implement a rescue plan. It is not an insolvency process. Importantly, the directors of an eligible company can file the necessary documents required to put the company into a moratorium without giving notice to the holder of a qualifying floating charge. This is a major change, when compared with…
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Singapore continues to develop its status as an upcoming international hub for debt restructuring. The nation-state updated and strengthened its restructuring and insolvency laws in recent years, primarily through enacting the omnibus Insolvency, Restructuring and Dissolution Act 2018 (IRDA) and incorporating the UNCITRAL Model Law on Cross-Border Insolvency (the Model Law) into Singapore law.
The Singapore courts have also rendered recent decisions that strike a balance between strengthening pro-cross border reorganisation goals and adhering to the creditor-friendly history of Singapore law.
This article provides a brief survey of certain significant decisions in Singapore relating to rescue lending, restructuring and winding…
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Introduction
The Corporate Insolvency and Governance Act 2020 (the “Act”) came into force in June 2020. It introduced a number of temporary and permanent measures to restructuring and insolvency law which will affect creditors’ rights in the UK. The overarching objective of the Act is to promote the rescue of companies in financial difficulties by introducing a new “moratorium” procedure, a new “restructuring plan” procedure and new rules prohibiting the termination of contracts for the supply of goods and services by reason of insolvency (so called “ipso facto” clauses). The Act represents the biggest change to insolvency legislation in 20 years and has implications for:
- Supply chains
- Construction…
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SC clears JSW Steel’s $2.3B (₹19,350 cr) acquisition of Bhushan Power & Steel under Insolvency and Bankruptcy Code, 2016.
Insolvency and Bankruptcy Code (IBC) Latest News
- The Supreme Court of India has approved JSW Steel’s $2.3 billion (₹19,350 crore) acquisition of Bhushan Power and Steel (BPSL), reversing its earlier decision of liquidation.
- This judgment strengthens the Insolvency and Bankruptcy Code (IBC), 2016, by prioritising revival of distressed firms over liquidation.
Understanding Insolvency and Bankruptcy and the IBC
- Insolvency vs Bankruptcy: While insolvency results from an inability to pay debts due to a lack of assets, bankruptcy occurs when an application is presented to an authority declaring insolvency…
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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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Canberra Commercial (ACT), which operates under a number of trading names including Canberra Commercial Property, Canberra Commercial Sales, Canberra Leasing and Sydney Commercial Property, was placed in liquidation on September 12, 2025, according to documents lodged with the Australian Securities and Investments Commission (ASIC).