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.
In a significant move to liquidate assets for creditors, the liquidator of Firestar International Limited has announced an e-auction for a substantial inventory of precious jewellery, gold, and natural diamonds. The sale features five distinct lots with a combined weight of over 40 kilograms of gold and hundreds of carats of diamonds.
The e-auction is scheduled for October 9, 2025, between 1:30 PM and 3:30 PM on the Baanknet platform.
The assets, which were released by the Directorate of Enforcement (ED), form part of the liquidation estate of Firestar International Limited. The company was admitted for Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), Mumbai Bench, on August…
UFC CEO Dana White reportedly owes money to Red Rocks Casino.
White is a known frequent gambler at Red Rocks playing card games. He’s often on video with other celebrities playing cards with them. However, it appears he may not be doing as well as some may think.
Todd Shriber of Casino.org reported that Dana White owes just over $25 million, but that number could be higher.
“Ultimate Fighting Championship (UFC) CEO Dana White allegedly owes Red Rock Resorts $25.2 million in unpaid betting debts, an anonymous source told Casino.org,” Shriber wrote. “The source added it’s possible, though not confirmed, the UFC boss owes the Las Vegas-based casino operator as much as $50 million for credit extended to him so that he could play…
It can be pretty easy to find yourself drowning in debt, especially in today’s inflationary environment.
OsakaWayne Studios/Getty Images
The current economic environment has pushed debt problems to a breaking point for millions of Americans. With inflation still a concern, rising costs across housing, food and essential services have forced more people to rely on credit cards and loans to maintain their standard of living. As a result, the total credit card debt nationwide recently reached a new record high of $1.21…
Bank of Baroda has declared the loan accounts of Reliance Communications Ltd. and its erstwhile director Anil Ambani as “fraud”, according to an exchange filing on Thursday.
RCom, in the filing, said the loans referred to by Bank of Baroda pertain to the period prior to the corporate insolvency resolution process of the company.
As per the Insolvency and Bankruptcy Code, they are required to be “necessarily resolved as a part of a resolution plan or in liquidation, as the case may be”, it further said.
RCom noted that a resolution plan has been approved by the committee of creditors of the company in accordance with the IBC, and is presently awaiting approval of the National Company Law Tribunal.
SDPs Run Amuck – The Case of Medical Debt Forgiveness as a Pretext for High Payments-Thu, 09/04/2025 – 12:00 | Committee for a Responsible Federal Budget
The majority shareholder of New Zealand’s largest Chinese-language media firm has purchased the company out of receivership and liquidation.
Best News Entertainment operated the Chinese Voice and Love FM Chinese language radio stations, as well as digital news outlet NZ936 which it describes as Stuff for the Chinese community.
New Delhi, Sep 4 (PTI) Lenders of Jaiprakash Associates Ltd (JAL), which is facing insolvency proceedings, will meet on Friday to discuss ‘challenge process’ to be conducted by the resolution professional among five bidders to maximise the value of the assets of the debt-ridden company. The Committee of Creditors (CoC) meeting is scheduled on September 5. Adani Group, Dalmia Bharat, Vedanta Group, Jindal Power and PNC Infratech have submitted bids to acquire JAL. According to sources, the CoC during its meeting held on August 22, decided to carry out further commercial negotiations with each of the Resolution Applicants to maximizing the value of assets of JAL. To achieve this objective, a note was…
Lenders of Jaiprakash Associates Ltd (JAL), which is facing insolvency proceedings, will meet on Friday to discuss ‘challenge process’ to be conducted by the resolution professional among five bidders to maximise the value of the assets of the debt-ridden company. The Committee of Creditors (CoC) meeting is scheduled on September 5.
According to sources, the CoC during its meeting held on August 22, decided to carry out further commercial negotiations with each of the Resolution Applicants to maximizing the value of assets of JAL.
To achieve this objective, a note was circulated to conduct the challenge process, which means the…
The lenders of Jaiprakash Associates Ltd, currently undergoing insolvency proceedings, are scheduled to meet on Friday to finalize a ‘challenge process’ organized by the resolution professional. This initiative aims to enhance the asset value of the financially struggling company.
Key participants in the bidding include Adani Group, Dalmia Bharat, Vedanta Group, Jindal Power, and PNC Infratech, all vying to acquire JAL. Important discussions were held earlier in August to facilitate negotiations with these bidders to maximize asset value.
The minimum bid stands at Rs 12,000 crore, and participants have to adhere to the framework set by the Insolvency and Bankruptcy Code and its regulations. JAL’s conglomerate has significant assets,…
