Insolvency Guardian Media Centre
NCLT admits insolvency plea against Reliance MediaWorks Exchange4media
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Aged care, disability and veterans care service provider Annecto Incorporated has entered voluntary administration, putting entitlement payouts for hundreds of staff in doubt.
Last month Annecto, which has more than 1,000 employees and 4,400 clients across four states, announced it would stop its community services by the end of July.
On Monday, the Annecto board put the organisation into voluntary administration, saying the organisation was either insolvent, or was likely to become insolvent in future, according to administrators McGrathNicol.
A Melbourne-based Annecto worker worries they may have to farewell up to two-thirds of their clients. (Supplied)
In a letter to staff, the administrators said all staff would be made redundant, and…
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The Insolvency and Bankruptcy Board of India (IBBI) issued Notification No. IBBI/2025-26/GN/REG128 dated 4th July 2025 announcing the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025. This amendment introduces stricter transparency norms in the corporate insolvency resolution process (CIRP).
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Under the new amendment, resolution professionals (RPs) are now required to disclose details of all identified avoidance transactions, as well as fraudulent or wrongful trading transactions, in the information memorandum and to all prospective resolution applicants…
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Adani Power announced that it has successfully acquired and implemented a resolution plan of Vidarbha Industries Power Ltd. (VIPL). The transaction is for an aggregate consideration of ₹4,000 Crore. Effective July 07, 2025, VIPL has become a wholly owned subsidiary of the company after Adani Power acquired 100% shareholding of the company.
VIPL is a 2×300 MW domestic coal-fired power plant situated in Butibori, Nagpur district, Maharashtra. The company went under a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC).
Further, the Mumbai Bench of the National Company Law Tribunal (NCLT) granted approval to Adani Power’s resolution plan on June 18, 2025. Later on this was successfully…
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Ahmedabad: Adani Power Ltd (APL) on Tuesday said it has successfully completed the acquisition and resolution plan implementation of Vidarbha Industries Power Ltd (VIPL) for Rs 4,000 crore.
With this acquisition, Adani Power takes its operating capacity to 18,150 MW, cementing its position as India’s largest private base load power generation company with 30,670 MW of operational capacity by 2030.“The acquisition of VIPL is a key milestone in Adani Power’s strategy to unlock value through the turnaround of stressed assets.
As we continue expanding our portfolio, we remain committed to supporting India’s vision of ‘Electricity for All’ by delivering…
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Holly Phillips and Pritti MistryBBC News
More than 100 tanker drivers have been made redundant after the Prax Lindsey Oil Refinery filed for insolvency.
Axis Logistics, the main delivery firm for the refinery in North Lincolnshire, went into administration along with parent company Prax Group at the end of June.
Administrator Teneo said the majority of Axis’s 137 employees had been made redundant, with a few being kept on “for a limited period to support the orderly closure of the business”.
Community, the union representing the majority of 120 drivers, said the “devastating news” had “come as a shock”.
Prax Group bought the Lindsey Oil Refinery from…
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How to Stabilize Africa’s Debt International Monetary Fund
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Adani Power Ltd. (APL), India’s largest private thermal power producer, has successfully completed the acquisition and resolution plan implementation of Vidarbha Industries Power Ltd. (VIPL) for an aggregate consideration of Rs 4,000 crore, the company said in a media statement.
Vidarbha Industries Power is a 2×300 MW domestic coal-fired power plant located in Butibori, Nagpur district, Maharashtra.
Vidarbha Industries Power was undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). On June 18, 2025, the Hon’ble Mumbai Bench of the National Company Law Tribunal (NCLT) approved Adani Power’s resolution plan. Subsequently, the plan was successfully implemented on…
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South Korea Finalises KRW 1.1 Trillion Debt Relief Package Regulation Asia
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