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Why Amend the IBC 2016?

As per the Insolvency and Bankruptcy Board of India’s (IBBI) latest quarterly update on corporate insolvency cases (CIRPs), by the end of June 2025, a total of 8,492 companies had entered the CIRP process. Of these, 1,258 companies were successfully revived through resolution plans, 1,314 cases were closed after appeals, reviews, or settlements, and 1,191 were withdrawn before completion. However, 2,824 companies had to be sent for liquidation.

Celebs Go Dating‘s Kerry Katona revealed that having an OnlyFans account has affected her dating life. She’s been selling explicit photos for £19.99 per month for several years, and has the video creation website to thank for getting her out of bankruptcy.

She went through financial hardship and resorted to taking steamy pics to make money, which has been so successful that she’s been able to buy an incredible home and a Lamborghini, as well as send her children to private school, including her 18-year-old daughter.

Kerry revealed that she “went into bankruptcy and lost all her money” during her second marriage to her mum’s drug dealer, which happened just after she went to rehab. Years since then, Kerry…

A YouGov survey, commissioned by the University Alliance, found that 85% of respondents backed financial support for students training to enter professions such as nursing.

Support spanned the political spectrum, with 93% of Labour voters and 80% of Reform voters in favour.

The findings come amid renewed calls from the Royal College of Nursing (RCN) for a loan forgiveness scheme in England, under which student nurses’ debt would be gradually cleared in return for years of service in the NHS and other publicly funded healthcare settings.

A policy…

Cyclacel Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on developing innovative cancer medicines, has released its Form 10-Q report for the second quarter of 2025. The report provides a detailed overview of the company’s financial performance and key business activities for the six months ended June 30, 2025.

Financial Highlights

• Revenues: $0, The company reported no revenue for the six months ended June 30, 2025, compared to $33,000 for the same period in 2024.
• Operating Loss: $(6.4) million, The operating loss decreased from $(8.0) million in the six months ended June 30, 2024, to $(6.4) million in the same period in 2025, reflecting cost management efforts.
• Net Loss: $(1.4) million, The net loss for the…

What are journalists missing from the state of Delaware? What would you most like WHYY News to cover? Let us know.

Mick Stanziale, who has debilitating cardiac issues and can’t walk 50 feet without getting winded, pays $100 a month toward his $23,000 in medical bills.

At that rate, the 64-year-old Claymont man would pay off his debt in about two decades.

Stanziale’s whopping financial obligation stems from a January 2024 heart catheterization and followup care that his insurance only partially covered. He’s no longer…

The consortium led by European investment holding company AAMG (Ambitious Air Mobility Group N.V.) is getting serious about its plans to revive the failed aviation startup Lilium. AAMG has now formally applied for a purchase agreement, under the conditions that were announced on Monday: AAMG wants to pay €20 million for the startup’s assets, and holds another €250 million ready to make the company operational again. Another €500 million is apparently also at AAMG’s disposal should further complications arise.

According to information from the German publication Handelsblatt, AAMG and its partners have now also leased significant facilities at Oberpfaffenhofen Airport, Lilium’s headquarters. A spokesperson for AAMG declined to…

The Insolvency and Bankruptcy Appellate Tribunal has upheld the previous order passed by the Delhi bench of the National Company Law Tribunal (NCLT), which had, on June 12, 2024, directed the initiation of the Corporate Insolvency Resolution Process (CIRP) over a petition filed by Bank of Maharashtra,…

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In contrast, in a recent Supreme Court ruling in Kalyani Transco v. Bhushan Power & Steel Ltd., 2025 SCC OnLine SC 1010, the Court directed the return of payments made by the SRA to the financial creditors, operational creditors and towards equity contribution, within two months from the date of the judgment. The apex court, in this case, ordered the liquidation of Bhushan Power and Steel Limited (“BPSL”) after rejecting the resolution plan of JSW Steel. The judgment came over three years after JSW started the execution of its obligations under the resolution plan. The Supreme Court held that the resolution professional did not duly discharge his duties under the Code and the CoC failed to exercise the commercial wisdom while…

MANILA – Senators on Thursday pressed regulators to tighten controls and weigh an outright ban on online gambling, warning that addiction and related crimes are eroding Filipino families, communities, and values.

Senate Majority Leader Joel Villanueva, author of Senate Bill No. 47 or the “Anti-Online Gambling Act,” said the lure of instant wealth pushed many into debt, despair, and crime.

At the Senate Committee on Games and Amusement hearing led by Senator Erwin Tulfo,…