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.
The site near Montreal where Northvolt planned to build a new EV battery plant, seen in 2024. A Quebec judge placed the North American branch of the company under creditor protection on Friday.Christinne Muschi/The Canadian Press
A Quebec Superior Court judge has declared insolvent the North American branch of battery maker Northvolt as the provincial government looks to recover $260-million owed to it by the company.
Justice Janet Michelin on Friday placed Northvolt Batteries North America under creditor protection following a request earlier in the week from the Quebec government.
Northvolt laid off its entire workforce on Thursday following Economy Minister Christine Fréchette’s announcement on Tuesday…
In a dramatic climax to a protracted insolvency battle, Vedanta Group has emerged as the successful bidder for the debt-ridden Jaiprakash Associates Ltd (JAL), beating out a competitive field that included the Adani Group. Vedanta’s winning bid of ₹12,510 crore in a challenge auction on September 5, 2025, marks a significant step towards resolving the financial woes of JAL and its vast network of assets.
The acquisition was the result of a “challenge process” initiated by JAL’s Committee of Creditors (CoC) to maximize the recovery for creditors who have claimed a staggering ₹57,185 crore. The auction, a key part of JAL’s Corporate Insolvency Resolution Process (CIRP), saw a fierce bidding war with a floor…
Northvolt announced plans in 2023 to build a $7-billion battery “gigafactory” in Quebec, touted as the largest private investment in the province’s history. But the project’s future was thrown into doubt when Northvolt’s Swedish parent company declared bankruptcy in March. Construction on the plant never moved past preparatory stages.
Quebec signed an agreement with the North American subsidiary in April to give it time to find new buyers or investors. But the government says Northvolt received no binding offers by a Sept. 1 deadline, and decided to pull the plug on the project.
“Through all the discussions there have been with potential players, there is no hope that the project can be…
MONTREAL — A Quebec Superior Court judge has declared insolvent the North American branch of battery maker Northvolt as the provincial government looks to recover $260 million owed to it by the company.
MONTREAL — A Quebec Superior Court judge has declared insolvent the North American branch of battery maker Northvolt as the provincial government looks to recover $260 million owed to it by the company.
Justice Janet Michelin on Friday placed Northvolt Batteries North America under creditor protection following a request earlier in the week from the Quebec government.
Northvolt laid off its entire workforce on Thursday following Economy Minister Christine Fréchette’s announcement on Tuesday that the government would…
