“The IRD’s got quite a lot of arrears that they need to collect in, which built up post-Covid when they were taking the more softly approach.

“Historically, they’re closer to an even split between themselves and all other creditors, but at the moment, they’re definitely making up a large portion of the applications.”

The ramp-up in the IRD’s debt enforcement has resulted in a significant increase in work landing on the Insolvency and Trustee Service (ITS), or the Official Assignee, which acts as the court’s default liquidator when no other firms take on an appointment.

“They’ve seen a huge jump in their workload, particularly this year, because the IRD’s pushing so much work…

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There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:

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TOKYO – A record number of ramen noodle eatery operators in Japan went out of business in 2024, according to a research firm, as the food’s reputation for affordability limits room to raise prices amid soaring ingredient and utility costs.

Also hit by climbing personnel expenses due to labor shortages, insolvencies among ramen business operators resulting in liabilities of at least 10 million yen ($63,000) in 2024 jumped over 30 percent to 72, up from 53 in 2023, Teikoku Databank Ltd. said.

Japanese ramen soup noodles typically combine meat and vegetable toppings with broth. Despite rising costs, the average price of a bowl of ramen is still under 700 yen, according to Teikoku Databank. A popular lunchtime…

FIFAX Plc, company release, 14 July 2025 at 10:15 a.m. EEST

On 10 July 2025, FIFAX Plc (“Fifax”) filed for the company’s bankruptcy. The District Court of Åland handed down its decision to declare Fifax bankrupt (diarynumber 2025/715) on 14 July 2025 at 10:00 a.m. EEST.

The District Court of Åland has appointed Attorney Robert Peldán from Borenius Attorneys Ltd as the bankruptcy estate administrator of Fifax.

Additional information:

Attorney Robert Peldán

Borenius Attorneys Ltd

+358 50 341 5481

[email protected]

Certified Advisor:

Aktia Alexander Corporate Finance Oy

+358 50 520 4098

Fifax in brief

Fifax’s vision is to be a forerunner in large-scale sustainable fish farming with a minimal impact on the environment, so that…

The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that when a default occurs beyond outer limit of Section 10A of Insolvency and Bankruptcy Code 2016 (‘IBC’), a fresh insolvency application can be filed under Section 7 of the Code.

Gangadhar A. Kotian, Suspended Director of Bombay Rayon Clothing Ltd filed an appeal under Section 61(1) of Insolvency and Bankruptcy Code 2016 (‘IBC’) against the Order dated 24.04.2025 (‘Impugned Order’) passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-II). By the impugned order, the Adjudicating Authority has admitted the Section 7 application of IBC filed by Catalyst Trusteeship Ltd Financial Creditor.

The UAE…

Interest rate strategy and tackling household debt

On the matter of commercial banks cooperating with the Khun Soo, Rao Chuai scheme, Rung explained that participation varied depending on the type of debt. For example, mortgage debt with payment delays of under three months received a strong response from banks. However, for debts that had defaulted for six months or more, the response rate dropped significantly. Car loans, in particular, had very low participation—especially when the default period exceeded six months, in which case banks were barely responsive.

She also pointed out that each bank’s loan portfolio differs. For example, state-owned banks typically have no car loan portfolios, so their participation rate in the…

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Background Facts:

The Corporate Debtor, Sebacic India Limited, was incorporated on 10.09.2007. Between 2011 and 2018, venture Capital Funds, Wayzata III India Ocean Pvt. Ltd. and India Nivesh Renaissance Fund, held significant shareholdings in this company.

On 15.05.2024, the National Company Law Tribunal admitted a petition filed by Basil Enterprises, an Operational Creditor, under Section 9 of the Code…