Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
The National Company Law Appellate Tribunal (NCLAT), New Delhi bench comprising Justice Yogesh Khanna (Judicial Member) and Mr. Indevar Pandey (Technical Member) exercising its inherent powers under Rule 11 of the NCLAT Rules, 2016, has closed the Corporate Insolvency Resolution Process (“CIRP”) against Grand Reality Pvt. Ltd. through the ‘Reverse CIRP’ mechanism. The project was completed under court-monitored supervision, and possession was handed over to all homebuyers, and no outstanding claims were due.
Brief Facts
The appellant filed the appeal challenging the order passed by NCLT New Delhi dated 14.02.2023 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”). On 26.09.2023, the NCLAT…
Just in: the number of companies in England and Wales falling into insolvency dropped last month.
The InsolvencyService has reported that there were 2,043 registered company insolvencies in England and Wales in June, 8% lower than in May 2025 (2,230) and 16% lower than in June 2024, when 2,430 companies failed.
That could ease some concerns over the health of the UK economy, as companies tackle rising inflation and higher taxes.
A chart showing company insolvencies in England and Wales Photograph: The Insolvency Service
Despite the drop, monthly company insolvency numbers in the first six months of 2025 were slightly higher than the second half of 2024, but remain lower than the 30-year annual…
KPMG announced that David Hardy, George Georges, and Emily Seeckts had been appointed administrators of fast-food stores in Victoria, New South Wales, and Queensland.
Twenty-four stores across the country are affected, and hundreds of jobs were set to be lost.
KPMG voluntary administrators have now assumed day-to-day control of CJ’s Group.
In a statement, KPMG Australia said they would be focusing on “stabilising” the operations of the Group.
“We will be conducting an immediate sale process of the existing store network and operations,” Hardy said.
“We will be working with all stakeholders, including employees, suppliers and landlords, to maximise the outcome for all parties.”
As New Zealand businesses continue to face mounting financial pressure, one firm is urging owners not to wait until the only choice left is liquidation.
BWA Insolvency is a leading New Zealand specialist in voluntary administration (VA), a process that allows financially distressed companies to restructure and recover rather than collapse.
But despite its potential to save viable businesses, VA remains severely underutilised.
A recent study has revealed that nearly a fifth (17 per cent) of Australian SMEs would collapse if they lost just one major client.
As revealed in ScotPac’s SME Growth Index Report, if businesses lost a key client, there would be an average revenue loss of 22 per cent.
Diversifying revenue streams is key to the survival of small businesses, said ScotPac CEO Jon Sutton.
“This feedback tells us that too many SMEs are just one shock away from collapse. Relying heavily on a single client or supplier can create serious vulnerability – especially in a volatile trading environment,” Sutton said.
“In challenging conditions, businesses that diversify their client base and secure flexible funding are the ones…
Case Title: Blossom Zest Flat Buyers Welfare Association v. Greater Noida Industrial Development Authority and Ors.
A plea has been filed before the Supreme Court seeking review of itsjudgment dated February 12, 2024 which classified Greater Noida Industrial Development Authority as a ‘secured creditor’ for the purposes of Corporate Insolvency Resolution Processes under the Insolvency and Bankruptcy Code (IBC).
Filed by a homebuyers’ association, the plea states that the impugned judgment has led the National Company Law Tribunal to send back many resolution plans to the Committee of Creditors for reconsideration on the ground that the same do not treat Noida/Greater Noida as ‘secured creditor’.
Hong Kong actor and model Jacky Heung is being sued by a Macau casino operator for allegedly racking up at least HK$1.4 million (US$178,000) in gambling debts following a visit to the gaming hub last December.
In a writ filed with the Hong Kong District Court, MGM Grand Paradise said Heung had borrowed HK$2 million on December 1, 2024, from the operator of the MGM Macau and MGM Cotai casino hotels and converted the money into betting chips.
Under the terms of the loan, Heung was required to repay it on the same day.
But the company alleged that the 40-year-old actor had only paid back some of the money and still owed the casino HK$1.4 million.
The contract also stated that the casino could charge an annual interest of 18 per cent on…
