[HONG KONG] Developer China South City Holdings was ordered to liquidate by Hong Kong’s High Court, making it the biggest Chinese builder by assets to be wound up since China Evergrande Group.

The ruling from judge Linda Chan came after the liquidation petitioner asked for an immediate wind-up order. China South City asked the court for “one final chance”, but Chan said that no significant progress had been made on the company’s restructuring proposal.

The liquidation order shows how China’s years-long property crisis continues to shake one-time giants of the real estate industry. Despite government efforts to prop up the ailing sector, home sales are still weak, making any near-term recovery unlikely. Even UBS Group, which…

The Mumbai Bench of the National Company Law Tribunal (NCLT) admitted a Section 10 application filed by NAC Advertising India Private Limited and initiated the Corporate Insolvency Resolution Process (CIRP) against it, after finding that the company’s financial default was clearly established and above the threshold under Section 4(1) of the Insolvency and Bankruptcy Code, 2016.

The number of people in Ukraine who decide to declare themselves bankrupt is growing. This was reported by UNN with reference to Opendatabot.

Details

According to the information of the Supreme Court, over the past 5 years, more than 2.9 thousand Ukrainians have become bankrupt. 577 Ukrainians have already filed for bankruptcy in the first 6 months of 2025.

The number of such cases increased by 33% compared to the same period in 2024. Most people went bankrupt last year: 926 cases, but the current year risks catching up with these figures.

In total, 2948 bankruptcy cases of citizens have been opened in the last 5 years. 52% of cases since 2021 concern men, and 48% – women.

The largest…

The business also faced higher trading and compliance costs, before it entered arrears with the landlord.

The first report was unable to detail what assets the business had available for creditors other than a vehicle worth $29,294.67 and property, plant and equipment not subject to securities worth $16,369.

The liquidator identified two preferential creditors, including employee claims totalling $53,743, as well as Inland Revenue, which is owed GST and PAYE totalling $84,864.

As for unsecured non-preferential creditors, a further $313,853 is owed to Inland…

The Delhi Police last week arrested an Uttar Pradesh Police constable for allegedly stealing motorcycles in the national capital to pay off his gambling debts. The accused has been identified as Mohseen, 27, who was stationed at the 44 BN PAC on the Hapur Road in Meerut.

The Delhi Police nabbed him from the Preet Vihar area of East Delhi on August 6 while conducting a patrol in Rajdhani Enclave. “Based on a tip-off, the police detained a person named Mohseen and found two master keys, which are used to unlock vehicles, in his possession. He is from the Baraut area of Baghpat and could not tell any justified reason for his presence in the Preet Vihar area,” said Abhishek Dhania, Deputy Commissioner of Police, East.

The Delhi Police last week arrested an Uttar Pradesh Police constable for allegedly stealing motorcycles in the national capital to pay off his gambling debts. The accused has been identified as Mohseen, 27, who was stationed at the 44 BN PAC on the Hapur Road in Meerut.

The Delhi Police nabbed him from the Preet Vihar area of East Delhi on August 6 while conducting a patrol in Rajdhani Enclave. “Based on a tip-off, the police detained a person named Mohseen and found two master keys, which are used to unlock vehicles, in his possession. He is from the Baraut area of Baghpat and could not tell any justified reason for his presence in the Preet Vihar area,” said Abhishek Dhania, Deputy Commissioner of Police, East.

According to Newscorp papers liquidators are scrutinizing a company run by the children of a collapsed truck repair group.

Gold Coast business, Truck Repair Group (TRG) went into voluntary liquidation in December last year (see original Paint & Panel article here) owing money to a host of suppliers and contractors.

Scott Hunter was director of the company and its sole shareholder was Natalie Hunter of the same address.

The assets of the original Group were sold to a new company directed by the Hunters’ children, Jasmine and Joshua.

The new business continues to operate from the same locations and still uses the original website. It employs more than 100 staff.

The liquidator, Nick Combis of Vincents, said the sale price of the…