Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
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Zee Entertainment Enterprises Limited on Wednesday (September 10) said it has received an insolvency application from IDBI Bank Limited before the National Company Law Tribunal (NCLT), Mumbai, seeking initiation of the corporate insolvency resolution process.
The bank, claiming to be a financial creditor, has alleged a default of ₹225.23 crore. The claim is based on a debt service reserve agreement related to credit facilities availed by Siti Networks Ltd. Zee Entertainment disputes the claim, calling it malicious, fraudulent, meritless and an abuse of the legal process aimed at harassing and causing disrepute to the company.
The company noted that IDBI Bank had earlier filed similar insolvency applications in 2022 before NCLT, which…
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On 4 September, the Duisburg-based chemical plant Venator filed for insolvency. The reason given was the insolvency of the British parent company Venator UK, which left the German subsidiary without sufficient liquidity. The roughly 350 employees are due to be informed about the next steps in a staff meeting. According to the WDR, reported on the broadcaster’s website, provisional insolvency administrator Sarah Wolf stated that her aim was to stabilise operations and develop a viable solution for the future. The Krefeld-Uerdingen site had also previously filed for insolvency.
Causes and outlook
The Lower Rhine Chamber of Industry and Commerce pointed out that high energy and raw material costs have further worsened the…
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Over 2,000 households across Scotland, England and Wales had debt worth more than £947,000 of written off by the British Gas Energy Trust.
Over 2,000 households across Scotland, England and Wales had debt worth more than £947,000 of written off by the British Gas Energy Trust.(Image: Jacob King/PA Wire)
The British Gas Energy Trust has reopened its Individuals and Families Fund (I&F) to help households struggling with energy debt on a prepayment or credit account. The support scheme can provide up to £1,700 to eligible customers of any energy supplier, if that supplier does not have its own support scheme.
Last year, the I&F fund helped 2,051 households across Scotland, England and Wales, write off more than £947,000 of energy debt.
Keeley Lord joins the North West business as an insolvency practitioner after 16 years at Begbies Traynor.
She qualified as a chartered certified accountant in 2014 and is a fellow of the ACCA.
With expertise in corporate insolvency, restructuring, and turnaround strategies.
Craig Johns, partner at Cowgills, said: “We are delighted to welcome Keeley to the team.
“She brings a wealth of experience, a proven track record, and a broad range of specialisms that will allow us to support even more businesses across the North West and beyond.”
Ms Lord’s appointment comes after a series of promotions and recruitment in the business recovery team earlier this year.
She said: “Cowgills has an outstanding reputation in…
The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) allowed a 45 days extension to complete the Corporate Insolvency Resolution Process (CIRP). The extension was to receive the final plans and complete the voting therein.
.ASREC (India) Ltd, the appellant challenged the order dated 30.06.2025, by which application was filed by the RP for extension of 90 days time beyond 18.04.2025 was rejected. In paragraph 39 of the judgment, adjudicating authority has given reasons for rejecting the extension of 90 days as prayed for.
Counsel for the appellant challenging the order submitted that in the Corporate Insolvency Resolution Process (CIRP), 6 resolution plans have already been received and he…
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