Insolvency Guardian Media Centre
London-based vertical farming technology firm Vertical Future has been listed for sale on an insolvency marketplace after posting a sharp decline in revenue and widening financial losses.
The company generated just £692,000 in turnover in 2024, down from £6.7 million the previous year, according to a report by City A.M. Pre-tax losses exceeded £10 million, prompting a strategic review and sale process.
In a statement, the company said: “Vertical Future can confirm that it has engaged advisors to explore strategic options for the business, including a potential sale. Like others in the vertical farming sector, we have faced significant headwinds in a difficult capital environment. The board continues to work hard to…
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The Supreme Court on Thursday recalled its May 2, 2025, judgment that ordered the liquidation of Bhushan Power and Steel Ltd (BPSL) after rejecting steel major JSW Steel Ltd’s Rs 19,000 crore bid to acquire it through the Corporate Insolvency Resolution Process (CIRP) route.
A bench of Chief Justice B R Gavai and Justice S C Sharma said it will consider the appeal challenging the resolution plan afresh.
“We…think that this is a fit case wherein the judgment under review needs to be recalled and the matter needs to be considered afresh. So needless to say that while we are allowing the review, we keep all the questions available to both parties open to be argued at the stage of hearing,” the bench said.
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The Supreme Court on Thursday recalled its May 2, 2025, judgment that ordered the liquidation of Bhushan Power and Steel Ltd (BPSL) after rejecting steel major JSW Steel Ltd’s Rs 19,000 crore bid to acquire it through the Corporate Insolvency Resolution Process (CIRP) route.
A bench of Chief Justice B R Gavai and Justice S C Sharma said it will consider the appeal challenging the resolution plan afresh.
“We…think that this is a fit case wherein the judgment under review needs to be recalled and the matter needs to be considered afresh. So needless to say that while we are allowing the review, we keep all the questions available to both parties open to be argued at the stage of hearing,” the bench said.
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The Supreme Court on Thursday recalled its May 2, 2025, judgment that ordered the liquidation of Bhushan Power and Steel Ltd (BPSL) after rejecting steel major JSW Steel Ltd’s Rs 19,000 crore bid to acquire it through the Corporate Insolvency Resolution Process (CIRP) route.
A bench of Chief Justice B R Gavai and Justice S C Sharma said it will consider the appeal challenging the resolution plan afresh.
“We…think that this is a fit case wherein the judgment under review needs to be recalled and the matter needs to be considered afresh. So needless to say that while we are allowing the review, we keep all the questions available to both parties open to be argued at the stage of hearing,” the bench said.
A Supreme Court bench of…
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In a major relief to JSW Steel, the Supreme Court has agreed to revisit its earlier ruling that cancelled the company’s ₹19,350-crore acquisition of bankrupt Bhushan Power and Steel Ltd (BPSL) and directed its liquidation.
A special bench comprising Chief Justice B.R. Gavai and Justice Satish Chandra Sharma said that the 2 May ruling may have been based on legal errors and that this is a fit case for review.
“Prima facie, we are of the view that the impugned judgement does not correctly consider the legal position as laid down by a catena of judgements. This is a fit case for review,” the bench said, adding that all legal questions would remain open for fresh arguments.
The court will hear the matter again on Thursday, 7 August.
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A young man identified as Stephen Chidubem has been confirmed dead after allegedly taking his own life at his residence on Abba Street, behind the Anglican Church in Saburi 2, Abuja.
This was made known by a counter-insurgency expert and security analyst in the Lake Chad region, Zagazola Makama, in a post on his X handle on Thursday.
Makama disclosed that Chidubem hung himself using a rope tied to a ceiling fan.
According to the report, emergency responders arrived at the scene and evacuated the body to Kubwa General Hospital.
He was confirmed dead by a medical doctor, and the corpse was subsequently deposited at the hospital’s mortuary for autopsy.
Makama said a suicide note recovered at the scene pointed to gambling…
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The Supreme Court on Thursday admitted review petition filed by JSW Steel Ltd. on Bhushan Power and Steel’s insolvency case. The apex court will hear the matter on Aug. 7.
Last month, JSW Steel had filed a review petition in the Supreme Court regarding its earlier judgment related to Bhushan Power ‘s resolution plan.
In early May, the apex court ruled that JSW Steel’s 2019 acquisition of Bhushan Power was not in conformity with the law and ordered the transaction to be reversed, along with liquidation of the company. Under the 2019 resolution plan, JSW Steel had agreed to pay Rs 19,700 crore, of which Rs 19,350 crore was allocated to financial creditors and Rs 350 crore to operational creditors.
The Supreme Court later ordered a status…
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Onboards 12 new partners into InCorp Restructuring Services LLP (IPE Entity) to service Pan India Projects
MUMBAI, India, July 31, 2025 /PRNewswire/ — In a significant boost to India’s restructuring landscape, InCorp Restructuring Services (IRS) LLP, a registered Insolvency Professional Entity (IPE) with the Insolvency and Bankruptcy Board of India (IBBI), has expanded its national footprint by onboarding new strategic partners across major metro cities. This expansion enhances localized access to insolvency, resolution, and restructuring expertise that are critical for businesses navigating financial distress.
With new partners, InCorp Restructuring Services now…
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Property-flipping firm owned by Rickhil Prakash owes IRD nearly $9m BusinessDesk
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A growing number of businesses are going belly up in Singapore, with more companies going through compulsory liquidation in the first half of 2025, surpassing figures from the past five years.
Compulsory liquidation is a legal process where a company is forced to wind up, usually initiated by creditors through a court order, due to the company’s inability to pay its debts. Its assets will then be sold off to repay outstanding liabilities, and the business will be dissolved.
According to data from the Ministry of Law, 187 companies have undergone compulsory liquidation from January to June, marking a stark increase from 146 in the same period last year and just 95 in 2023.
This statistic also follows the city-state…
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Labor’s pre-election pledge to cut student and apprentice loans by 20 per cent has now passed parliament, becoming the first piece of legislation enacted by the newly re-elected Albanese government.
“We promised it and we’ve delivered,” federal Education Minister Jason Clare told reporters on Thursday morning.
“They voted for it in their millions, and we’re now repaying the trust that these young Australians have placed in us.“
The bill passed on Thursday also contains an increase in the repayment threshold, meaning a debtor can now earn up to $67,000 a year before the minimum repayment kicks in.
Mr Clare said raising the threshold makes the system “fairer”.
The pledge to cut debts was evidently popular with many voters during the 2025…
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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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