The Parliamentary Joint Committee on Corporations and Financial Services (PJC), chaired by Senator Deborah O’Neill, has handed down its final report into the effectiveness of Australia’s corporate insolvency laws in protecting and maximising value for the benefit of all interested parties and the economy.

The Committee has made some far-reaching recommendations in the Final Report, heralding the long awaited “root and branch” review of Australia’s insolvency laws that ARITA (Australian Restructuring Insolvency & Turnaround Association) and other industry bodies have called for over the last decade.

It is important to note that 17 of the 28 recommendations in the Final Report are to be addressed by a further…

The Indian domestic aviation sector was rocked earlier this month when hundreds of IndiGo flights were cancelled following the implementation of new crew rostering regulations, triggering widespread disruption at major airports. Passengers faced long delays, overcrowding and uncertainty, prompting public outrage and renewed debate around operational resilience and passenger care.

On social media, many travellers nostalgically remembered airlines such as Jet Airways and Kingfisher, arguing that the absence of legacy full-service carriers is being felt during periods of stress in the system.

Jet Airways, once regarded as the benchmark for full-service aviation in India, formally reached the end of its turbulent journey in November 2024…

NEW DELHI, Dec 27:  Appellate tribunal NCLAT has rejected Equitas Small Finance Bank’s appeal to initiate insolvency proceedings against Jumbo Finvest, upholding a National Company Law Tribunal order in the matter.

  Earlier, the Jaipur Bench of NCLT had rejected an insolvency plea against Jumbo Finvest, observing that it is a Financial Service Provider within the meaning of 3(17) of the Insolvency & Bankruptcy Code and is not a corporate person against whom a Section 7 application can be initiated.

This was challenged by Equitas Small Finance Bank before the National Company Law Appellate Tribunal, contending that Jumbo Finvest was registered as a financial service provider by the RBI.

The banking sector…

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New Delhi [India], December 27 (ANI): India needs to be comfortable with people and companies going bankrupt, as continuous insolvency and bankruptcy are essential for building a risk-taking and dynamic economy, said Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal.
In an interview with ANI, Sanyal said a healthy economic system must allow for “continuous churn”, where old companies shut down, and new ones emerge to take their place. He stressed that constant change is necessary for…

With the aim of fully repaying the bilateral expensive loan obligations to Eurozone countries (first bailout program) by 2031-a decade before the original maturity date in 2041-Greece made a new early debt repayment move on December 15.

Having received the “ green light” from the ESM, European loans under the Greek Loan Facility (GLF) with variable interest rates, maturing between 2033 and 2041, amounting to € 5.287 billion, were repaid. This move adds to previous repayments (which have exceeded € 15 billion in total), significantly contributing to debt sustainability and reducing exposure to variable interest rates. Specifically, in December 2024, obligations of 7.935 billion euros were paid, in December 2023…

Earlier, the Jaipur Bench of NCLT had rejected an insolvency plea against Jumbo Finvest, observing that it is a Financial Service Provider within the meaning of 3(17) of the Insolvency & Bankruptcy Code and is not a corporate person against whom a Section 7 application can be initiated.

This was challenged by Equitas Small Finance Bank before the National Company Law Appellate Tribunal, contending that Jumbo Finvest was registered as a financial service provider by the RBI.

The banking sector regulator on January 16, 2020, barred it from…

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Holly Wilson saw her work hours slashed when she fell pregnant.

A struggling single mum has told how she was plunged into crippling debt as a charity say one in four Scots are now turning to churches for help.

Holly Wilson, from Cumbernauld, North Lanarkshire, said she racked up debts of more than £15,000 after seeing her work hours slashed when she fell pregnant unexpectedly with her son, Levi.

The 38-year-old trained singer had juggled multiple jobs while struggling to keep on top of her bills, saying an ex forced her into even more debt by taking her cards and using them as his own.

She spoke out as Christians Against Poverty (CAP), a UK charity working with over 800 churches, found 12.5 million people (23% of UK adults) say…