Insolvency Guardian Media Centre
Dive Brief:
- The total number of larger U.S. corporate bankruptcy petitions filed this year through June rose to 371, up about 11% from 335 in the year-earlier period, according to a report from S&P Global, which tracks companies with public debt and assets or liabilities of at least $2 million or private companies with assets or liabilities of at least $10 million at the time of filing.
- That volume is the highest for the first half of the year since 2010, which saw 468 petitions, and signals that 2025 could be one of the busiest years for bankruptcy filings in over a decade, according to the report.
- “Corporate liquidity has largely worsened in 2025 as debt levels for many…
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Impex Ferro Tech Ltd ( (IN:IMPEXFERRO) ) has provided an announcement.
Impex Ferro Tech Limited has announced that it is undergoing a Corporate Insolvency Resolution Process (CIRP). The company’s Committee of Creditors recently held its twentieth meeting to discuss the steps taken by the Resolution Professional and approve the CIRP costs up to August 2025. This development is significant for the company’s stakeholders as it indicates ongoing efforts to address financial challenges and potentially restructure the company’s operations.
More…
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REVEALED: Latest business liquidations in Logan The Courier Mail
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The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted the Anil Ambani-linked Reliance Home Finance Limited (RHFL) for corporate insolvency resolution proceedings.
The NCLT’s Mumbai bench passed the order recently based on a petition filed by Invent Assets Securitisation & Reconstruction Pvt Ltd, which is RHFL’s financial creditor.
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The NCLT, comprising judicial member Nilesh Sharma and technical member Sameer Kakar, found that Reliance Home Finance Ltd (RHFL) defaulted on a debt amounting to Rs 7.80 crore, which includes interest, on December 4, 2024.
The financial debt originated from an Inter-Corporate Loan Facility Agreement dated April 1, 2023, with Reliance…
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The Truth About Bruno Mars’ Gambling Debt Rumors (& What He Allegedly Owes) MSN
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This new development does not mean that the sale is not guaranteed, however, as AAMG CEO Robert Kamp emphasises that there are still considerable risks. These risks are currently being reviewed from a legal perspective in order to secure guarantees. Only then will the opportunities and risks be weighed up against each other.
The review is by no means an unproductive step, however, as it will provide AAMG a clear view of the composition of Lilium’s valuable intellectual property rights, technical data and physical assets.
“We have been waiting a long time to find out what is actually for sale. We still have major concerns, which we are currently reviewing with our lawyers in order to resolve them and agree on guarantees. If we succeed…
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In a recent case, the Mumbai bench of the National Company Law Tribunal(NCLT) has held that application under section 7(5) of the Insolvency & Bankruptcy Code 2016 (‘the Code’) cannot be Rejected due to non furnishing of NeSL when existence of debt and default by Corporate Debtor is established
The Applicant, M/s. Goyal Achal Sampatti Vikas and Niyojan Nigam Limited (“Financial Creditor” or “the Petitioner”), on 30.03.2025 against the Respondent- Quanteco World Limited (“Corporate Debtor”), under Section 7 of the Insolvency & Bankruptcy Code 2016 (‘the Code’) r/w Rule 4(1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, seeking commencement of the Corporate Insolvency…
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In a recent case, the Mumbai bench of the National Company Law Tribunal ( NCLT ) held that minor clerical mistakes do not affect maintainability of an Insolvency Bankruptcy Code (IBC) petition when the identity of the parties is not in dispute and admitted the petition filed under section 9 of the code, 2016.
The application was filed by Mr. Pramod Anandrao Gawade, Sole Proprietor of M/s Gagandeep Dudh Sankalan Kendra, the Operational Creditor (OC) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s Kute Sons Dairys Limited,…
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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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The National Company Law Appellate Tribunal (NCLAT), Principal Bench, has allowed IDBI Trusteeship to initiate Corporate Insolvency Resolution Process (“CIRP”) as there is a valid authorization from the assignee of the Debt.
The Appeal has been filed by the Suspended Director of the Corporate Debtor (“CD”) – Advantage Raheja Hotels Private Limited challenging the order dated 17.12.2024 passed by National Company Law Tribunal, Mumbai Bench, Court-II admitting Section 7 application filed by IDBI Trusteeship Services Limited (“IDBI Trusteeship”). By order dated 17.12.2024, Corporate Insolvency Resolution Process (“CIRP”) has been commenced against the CD and Shri Jayesh Natvarlal Sanghrajka has been…