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.
UK ministers appoint insolvency advisers for Thames Water collapse ‘contingency plans’UK ministers have lined up insolvency practitioners to prepare for
In a development with potentially significant implications for
the construction and insolvency sectors, the Ontario Superior Court
granted an initial order under the Companies’ Creditors
Arrangement Act (“CCAA“) that
included a rarely seen measure: a stay on calls against performance
bonds. The decision in Re Earth Boring Co. Limited raises
important questions about the limits of judicial discretion under
section 11 of the CCAA and the role of section 11.04, which
addresses the role of third-party guarantors in a debtor’s
restructuring. This bulletin analyzes the scope and rationale of
the Court’s order, its alignment with existing legal and
commercial principles, and the practical consequences for owners,
contractors, and…
UK ministers appoint insolvency advisers for Thames Water collapse ‘contingency plans’
UK ministers have lined up insolvency practitioners to prepare for the potential collapse of Thames Water, Britain’s biggest water company.
Steve Reed, the environment secretary, has signed off the appointment of FTI Consulting to advise on contingency plans for Thames Water to be placed into a Special Administration regime (SAR), in news first reported by Sky News.
This puts FTI Consulting as the frontrunner to act as the company’s administrator if it fails to secure a private sector bailout – although such an appointment would take place in court.
Dragonboat Restaurant has been serving Cantonese cuisine on Auckland’s Elliott Street since 1994. Photo: RNZ / Yiting Lin
A prominent Chinese restaurant in Auckland’s CBD was placed into liquidation last month after owing at least $1.4 million to creditors.
Opened in 1994, Dragonboat Restaurant on Elliott Street served a wide range of Cantonese dishes, including yum cha and barbecue items.
Reasons behind its insolvency included the Covid-19 pandemic’s impact on the hospitality industry and poor economic conditions, business director Guochao Cui said in the liquidators’ report.
Higher trading and compliance costs, as well as arrears with the landlord also played a part, Cui said.
CAPELLE ON THE IJSSEL, Netherlands (CelebrityAccess) –Dutch concert promoter Bon Bon Entertainment has been declared bankrupt by a local judge, ending nearly 15 years in the live entertainment business.
Founded in 2010, Bon Bon staged concerts by international artists such as Wizkid, King Promise, Tory Lanez, Tiwa Savage, and Busy Signal. The company was active in promoting Afrobeats, dancehall, and other music genres in the Netherlands, and positioned itself as a bridge between international talent and Dutch audiences.
In a statement, the company cited a combination of adverse market conditions, artist cancellations, and financial setbacks as reasons for the…
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Credit card debt has been climbing steadily over the last several months, with Americans adding another $27 billion to their credit card balances in the second quarter of 2025 alone. In total, cardholders now owe a staggering $1.21 trillion in credit card debt — a new record-high. That represents an uptick of 2.3% from the first quarter of 2025 and a rise of nearly 6% compared to the second quarter of…
The IBBI has proposed making it mandatory for the committee of creditors (CoC) to formally record its deliberations on the eligibility of resolution applicants under Section 29A of the IBC Code aimed to enhance transparency in the corporate insolvency resolution process (CIRP).
Section 29A of the Insolvency and Bankruptcy Code (IBC) lays down the ineligibility criteria for persons who can submit a resolution plan for a corporate debtor undergoing the insolvency process.
Provisions under the section prevent certain individuals and entities from acquiring or taking control of a stressed company if they have a history of defaults, financial irregularities, or criminal activity.
The proposed amendment to CIRP norms will require such…
The IBBI has proposed making it mandatory for the committee of creditors (CoC) to formally record its deliberations on the eligibility of resolution applicants under Section 29A of the IBC Code aimed to enhance transparency in the corporate insolvency resolution process (CIRP). Section 29A of the Insolvency and Bankruptcy Code (IBC) lays down the ineligibility criteria for persons who can submit a resolution plan for a corporate debtor undergoing the insolvency process.
Provisions under the section prevent certain individuals and entities from acquiring or taking control of a stressed company if they have a history of defaults, financial irregularities, or criminal activity.
The proposed amendment to CIRP norms will require such…
The Supreme Court of India, on August 11, 2025, reserved its judgment in the ongoing legal battle surrounding JSW Steel’s resolution plan for Bhushan Power and Steel Limited (BPSL). The bench, led by the Chief Justice, heard final arguments from all parties involved in a batch of appeals stemming from the Corporate Insolvency Resolution Process (CIRP).
The hearing followed a significant order from the Supreme Court on July 31, 2025, which had allowed review petitions and recalled an earlier directive to send Bhushan Power and Steel Ltd into liquidation. This decision was a setback to the arguments that JSW Steel had been responsible for the alleged delays in implementing the resolution plan.
