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Ahead of the August 7 hearing in the Supreme Court on the Bhushan Power & Steel (BPSL) matter, many insolvency experts feel that the best- case scenario for the company and all stakeholders would be one where the current management is allowed to run the company.
JSW Steel, which acquired BPSL for Rs 19,700 crore, has been running the company as its subsidiary since 2021. “The transaction happened over 4 years ago, and the company is doing well and making profits. BPSL’s creditors are also satisfied with the current management. In the present situation, it is likely that the JSW Steel’s transaction will not to disturbed, and the company will continue to run as it has been,” said a senior insolvency expert.
Sophie Grace is a leading Australian firm specialising in both compliance and legal services to participants within the financial services and credit industries. We have serviced Australian and international clients across the financial sector for over a decade. From obtaining the required licences to operate your business to the provision of ongoing compliance support, many businesses have benefited from Sophie Grace’s extensive knowledge in the financial and credit space.
FRP Advisory Group (Aim: FRP) is a leading advisory company specialising in restructuring and insolvency services across the UK, with a market share of 12%. Over the past decade, it has expanded and doubled down on its position, increasing its share of the market threefold from 4% at the beginning of the 2010s. The firm has grown despite a relatively benign backdrop for insolvencies and restructurings. According to the Insolvency Service, the number of corporate insolvencies reached a high of 24,000 in 2009 (across England and Wales) before declining to 14,500 a year in 2015, 2016 and 2017, before rising slightly to 17,000 in 2019 and then falling again to a multi-decade low of 12,300 in 2020.
The first half of 2025 has been marred by an increasing number of retailers and their partners descending into bankruptcy, and ultimately liquidation, as the market continues to grapple with waning consumer confidence and heightened competition. From Forever 21 to Hudson’s Bay, we explore some of the most notable bankruptcies of the year so far, what caused their downfall and where they currently stand…
CaaStle
Resale platform CaaStle was already shrouded in controversy by the time it filed for bankruptcy in June. Amid concerns over financing, CEO Christine Hunsicker and other CaaStle executives had been accused of misrepresenting funds, and Hunsicker ultimately stepped down from the company. The platform had also found itself on…
A one-off HECS debt reduction for university students is all but set after the federal opposition confirmed it would back the proposal.
Laws to cut 20 per cent off the HECS bill for students passed the House of Representatives on Tuesday, which would slash $5500 from the average debt.
The proposal was a major Labor election commitment and the first legislation introduced to the new parliament.
Law to slash HECS student debts was the first legislation introduced to the new parliament. (Darren England/AAP PHOTOS)
Despite the coalition saying during the campaign it would not support the debt cut, new leader Sussan Ley said the opposition would not stand in the way.
“We do care about students who are struggling with the cost of living, and I…
