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.
NEW DELHI: Adani Power Ltd. (APL) on Tuesday announced successfully completing the acquisition and resolution plan implementation of Vidarbha Industries
A Christchurch construction company has gone into liquidation, leaving behind significant debt and limited assets. Select Building Limited, which operated
Across the globe, people affected by problem gambling can quickly pile up debt. This in turn pushes some into criminal activities such as theft, fraud, or even murder in some cases. A crippling gambling addiction is the main reason for the tarnished reputation of one popular South Korean comedian who accumulated debt and asked fellow celebrities for money to help him settle it.
Jimin Loaned $70K to Lle Jin Ho
This is the case of Lee Jin Ho, the famous comedian from South Korea who gained worldwide popularity for participating in the show “Knowing Bros” on Netflix. The comedian took to his personal page on Instagram to admit that he was suffering from a gambling addiction which pushed him into…
The Technical University of Kenya (TUK) has been declared insolvent by Parliament amid a deepening financial crisis marked by a Ksh12 billion debt and persistent salary delays for staff.
The crisis has largely been blamed on a bloated workforce that exceeds the institution’s operational capacity, with payroll consuming Ksh270 million monthly. Additionally, TUK has failed to remit statutory deductions for several years.
Appearing before the Parliamentary Committee on Education on Wednesday, April 16, current and former administrators faced tough questions about how the institution accrued debts now exceeding Ksh12 billion.
The administrators admitted to severe financial mismanagement, revealing that staff, including lecturers,…
The Technical University of Kenya (TUK) has addressed reports that the university has been shut down days after it was declared financially insolvent by the National Assembly.
The Parliamentary Committee on Education on Wednesday, April 16, declared TUKinsolvent amid a deepening financial crisis marked by billions of debts and persistent salary delays for staff.
This came after current and former administrators faced tough questions before the committee about how the institution accrued debts exceeding Ksh12 billion.
Following the insolvency declaration, a notice purported to be from TUK resurfaced, claiming that the university has been closed.
The document, which has since been flagged as fake, alleged that the university…
Showbiz is all about the blinding glitz and glamor, but it is just as much about the persistent bickering in and around the stars deal on a daily basis. Although some artists are too well-versed in the cruelty of the entertainment capital, not everyone belongs to the camp. Yet, despite steering clear of the archetype controversies that often entangle the starlets, Bruno Mars secured a landing in the conflicting row of a $50 million debt.
For those caught a little off-guard by the buzz, here is the scoop on the entire drama.
All about Bruno Mars’ $50 million overdraft
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Bruno Mars has had quite the chart-topping career over two decades, and throughout, the singer has expertly dodged drama and…
WeightWatchers (WW) announced Tuesday that it is filing for bankruptcy in an attempt to crawl out of more than $1 billion in debt. The move comes as the company refocuses on prescribing weight loss GLP-1 drugs like Ozempic.
The once-iconic weight loss company, controlled by parent company WW International Inc, said it plans to emerge from bankruptcy within 45 days and will continue operating, according to NPR.
The company announced its shift to prescribing weight loss drugs in 2023, but has struggled to compete in a competitive market. It also lost its most prominent spokesperson, Oprah Winfrey, in 2024, who left the board after announcing that she was on a weight-loss medication.
Insolvency specialist Begbies Traynor saw annual profits almost double after a spate of larger, higher-value business failures.
The group, which achieved its 10th consecutive year of growth, reported pre-tax profits jumped from £5.8million to £11.5million in the year ending April, while its adjusted earnings before nasties rose by 11 per cent to £31.7million.
Its turnover increased by 12 per cent to £153.7million after organic revenues climbed by 10 per cent, thanks to strong performances across both divisions.
NEW DELHI: Adani Power Ltd. (APL) on Tuesday announced successfully completing the acquisition and resolution plan implementation of Vidarbha Industries Power Ltd. (VIPL) for a total consideration of ₹4,000 crore. VIPL operates a 2×300 MW domestic coal-fired power plant located in Butibori, Nagpur district, Maharashtra. VIPL was undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC).
The company, in a press note said that on June 18, 2025, the Mumbai Bench of the National Company Law Tribunal (NCLT) approved Adani Power’s resolution plan, which was subsequently implemented on July 7, 2025. With this acquisition, APL’s total operational capacity rises to 18,150 MW. The company is…
A Christchurch construction company has gone into liquidation, leaving behind significant debt and limited assets.
Select Building Limited, which operated in Canterbury, was placed into liquidation on 3 July by special shareholder resolution. Brenton Hunt of Insolvency Matters Limited has been appointed liquidator.
According to the initial report, the company ceased trading in July 2025 and is insolvent, with estimated debts totalling over $329,000. This includes $210,000 owed to Inland Revenue and staff as preferential creditors, and another $150,000 to unsecured creditors.
The report shows that the company’s remaining assets are minimal. Two vehicles, both under finance, and a small amount of plant and equipment are to be sold….
After many failed attempts in the past, Base Corporation Limited (in Liquidation), a company previously involved in the manufacturing of lead-acid batteries, is once again set to undergo a joint e-auction for the sale of its assets. The e-auction, which will be conducted on 4th August 2025, will offer the company’s assets on an “AS IS WHERE IS,” “AS IS WHAT IS,” “WHATEVER THERE IS,” and “WITHOUT RECOURSE BASIS”.
Prospective bidders can participate through the online e-auction platform, https://baanknet.com/.
Key Assets on Offer and Important Dates:
The sale notice details three main groups/lots of assets:
Base Corporation Ltd (CD) as a Going Concern (UNIT-SOLAN): This lot includes the Corporate…
