Insolvency Guardian Media Centre
A number of amendments to the Maltese Companies Act were enacted by means of Act XVIII of 2025 on July 11. This article analyses some amendments which have significant practical significance for the business community as well as for corporate law practitioners and service providers.
Simplified liquidation procedure
One of the main changes to the Companies Act is the introduction of a simplified liquidation procedure which can be used by companies in lieu of a ‘Members’ Voluntary Winding Up’. The rationale behind the new procedure is to enable a number of companies which have ceased to trade or never traded to have a fast track method of being struck off the Registry of Companies.
Unfortunately, many…
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South Africa’s Supreme Court of Appeal (“the SCA”) in Dr Waa Gouws (Johannesburg) v HR Computek (Pty) Ltd and Others considered…
South Africa
Litigation, Mediation & Arbitration
To print this…
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Kathrein Broadcast secures new investors to exit insolvency Broadband TV News
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Italian-inspired premium denim label Closed has filed for insolvency and placed a corresponding application with the Hamburg district court in Germany. Despite its financial difficulties, business operations are to continue unchanged.
Hamburg-based lawyer Stefan Denkhaus from the law firm BRL has been appointed provisional insolvency administrator. The pre-financing of insolvency benefits for the approximately 400 employees has already been initiated to ensure continuous salary payments and thus the stability of the operating…
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Italian-inspired premium denim label Closed has filed for insolvency and placed a corresponding application with the Hamburg district court in Germany. Despite its financial difficulties, business operations are to continue unchanged.
Hamburg-based lawyer Stefan Denkhaus from the law firm BRL has been appointed provisional insolvency administrator. The pre-financing of insolvency benefits for the approximately 400 employees has already been initiated to ensure continuous salary payments and thus the stability of the operating…
Read the original article here
What Lies Ahead for JP Associates
Jaiprakash Associates entered the corporate insolvency resolution process last year. Its lenders include Axis Bank, State Bank of India, Yes Bank, Bank of Maharashtra, Canara Bank, Bank of Baroda, ICICI Bank, Indian Overseas Bank and IDBI Bank, among others.
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Italian-inspired premium denim label Closed has filed for insolvency and placed a corresponding application with the Hamburg district court in Germany. Despite its financial difficulties, business operations are to continue unchanged.
Hamburg-based lawyer Stefan Denkhaus from the law firm BRL has been appointed provisional insolvency administrator. The pre-financing of insolvency benefits for the approximately 400 employees has already been initiated to ensure continuous salary payments and thus the stability of the operating…
Read the original article here
In a recent case, the Ahmedabad Bench of the National Company Law Tribunal (NCLT) admitted the application for initiation of Corporate Insolvency Resolution Process (CIRP) by SBI against the Corporate Debtor for providing financial assistance of Rs.25.75 Cr.
The Petition is filed by the Applicant- State Bank of India ( “Financial Creditor”) against the Respondent- Raninga Paper Mills Private Limited ( “Corporate Debtor”) under Section 7 of the Insolvency and Bankruptcy Code, 2016 ( “IBC, 2016”) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 ( “1B (AAA) Rules, 2016”) for initiation of Corporate Insolvency Resolution Process (CIRP), to appoint Interim Resolution…
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SPAL are declared bankrupt due to €10 million debt, brand to be auctioned off Tribuna.com
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Australia is experiencing a sharp rise in business insolvencies, driven by cash-flow stress. More than 11,000 businesses entered external administration in FY 2023-24, a 39 per cent increase from the previous year and the highest number on record. By mid June 2025, the total number of insolvencies had reached 14,105.
This surge is hitting small businesses hardest. According to Asic, 68 per cent of companies that failed owed under $1 million to their creditors. In the hospitality sector alone, almost one in 10 businesses closed in the past year, with payment delays and rising tax debt creating unsustainable pressure.
The underlying issue? Cash flow. The Reserve Bank of Australia notes that insolvencies have surged largely due to…
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