Insolvency Guardian Media Centre
As President Donald Trump plots to halt student loan forgiveness for many government and nonprofit workers, his administration is offering a special type of debt relief to one category of workers: new ICE agents.
The Department of Homeland Security announced on Tuesday it will offer student loan forgiveness and repayment options to new Immigration and Customs Enforcement recruits — along with a $50,000 signing bonus.
The announcement comes as the Trump administration works to limit the Public Service Loan Forgiveness program for groups the president considers political enemies. Since 2007, borrowers employed by the government or nonprofit organizations serving a wide range of public interest causes have been eligible for…
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By adopting frameworks that reflect global standards, South Africa positions itself as a beacon of stability and resilience
03 August 2025 – 00:00
In an ever-changing economic environment, South Africa’s approach to insolvency law speaks volumes about its commitment to maintaining the balance between the rights of debtors and the expectations of creditors. As an attorney in this intricate domain, I have seen the pivotal role that well-structured statutory frameworks play in managing distressed entities and facilitating their potential rehabilitation…
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25 July 2025
Joseph Dresselhaus GmbH & Co KG has filed for self administration proceedings with the competent district court in Bielefeld to reorganise itself using the instruments of the Insolvency Code. The court granted the application and confirmed the provisional self administration, paving the way for a comprehensive restructuring of the Herford-based group of companies.
Verlag INDat GmbH reports that this decision is based on the ongoing economic challenges facing Dresselhaus. As part of the self administration process, all available restructuring options are now being examined to ensure the long-term…
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“That means he was being very, very f—king disrespectful” – Kendrick Perkins explains why Marcus Morris’ casino debt became a legal problem Basketball Network
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Kentucky Faces Massive Job Loss as 3 Major Whiskey Distilleries Go Bankrupt MSN
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The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
…
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BREAKING NEWS: Healthcare equipment maker goes into liquidation
Healthcare equipment maker NRS Healthcare has gone into liquidation with a winding-up order having been issued.
(c) Steven HWG/Unsplash
Official Receiver Gareth Jonathan Allen has been appointed as liquidator of the business.
Mark James Tobias Banfield, Edward Williams, Helen Laura Wheeler-Jones, Adam Seres and David James Kelly of PwC have been…
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Supreme Court: While considering this review petition filed in respect of Supreme Court’s decision dated 2-5-2025 in Kalyani Transco v. Bhushan Power & Steel Ltd., 2025 SCC OnLine SC 1010, whereby the Court had directed the liquidation of Bhushan Steel and rejected the Resolution Plan by JSW; the Division Bench of B.R. Gavai, CJ and Satish Chandra Sharma, J., opined that Kalyani Transco (supra) did not correctly consider the legal position as laid down by several judgments such as- Kalpraj Dharamshi v. Kotak Investment Advisors Ltd., (2021) 10 SCC 401; Ghanashyam Mishra & Sons (P) Ltd. v. Edelweiss Asset Reconstruction Co. Ltd., (2021) 9 SCC 657; Essar Steel India Ltd. (CoC) v. Satish Kumar Gupta, (2020) 8 SCC 531; Swiss Ribbons…
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The Insolvency and Bankruptcy Board of India (IBBI) have dismissed an appeal filed by Mr. Vipan Kumar, a registered valuer (RV), challenging his three-month suspension. The disciplinary action, originally imposed by IBBI on 26th March 2025, pertained to his role in the corporate insolvency resolution process (CIRP) of M/s Base Corporation Limited.
Mr. Kumar, registered as a valuer for Land and Building under the Companies (Registered Valuers and Valuation) Rules, 2017, had conducted a valuation of the debtor’s land assets situated in Hosur and Solan. However, the IBBI found that the valuation report failed to meet the disclosure standards required under Rule 8(3)(g) of the Valuation Rules, leading to the suspension of his…
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The Allahabad high court held that protection of Insolvency Bankruptcy Code (IBC), 2016 is only applicable to corporate debtors and not to persons who draw cheques in Individual capacity. The court allowed the applicants to raise all contentions, legal or factual, before the court below while contesting the proceedings.
A complaint was lodged by O.P. No.2 against the applicant on 20.11.2023 under Section 138 read with Section 142 of N.I. Act, with an allegation that a certain amount of loan was being advanced to the Firm M/s Navyug Industries (partnership firm) and subsequently, said firm became a Company in the name of Newgen Ecotronics Pvt. Ltd. The applicant, who happened to be the partner of the firm and the Director…
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The National Company Law Tribunal (NCLT), Indore Bench of Sh. Shammi Khan (Judicial Member) and Sh. Sanjeev Sharma (Technical Member) has held that while admitting a petition under Section 7 of the IBC filed by homebuyers based on the default committed by the corporate debtor, the corporate debtor can be directed to complete the project under the reverse Corporate Insolvency Resolution Process (CIRP) model, under the supervision of the Interim Resolution Professional, if a structured and viable plan to complete the project is proposed by the corporate debtor.
The present petition has been filed under section 7 of the Insolvency and Bankruptcy Code, 2016 by SK Dutta along with 19 others financial creditors against the…