The bench dismissed the petition and observed that IBC is not a recovery mechanism and the additional claims of interest beyond the amount mentioned in the petition cannot justify admission.

Background

Ritwik Finance Pvt. Ltd., an NBFC, extended a secured loan facility of Rs. 60 lakhs to Genesiis Constro Pvt. Ltd. The financial creditor claimed an amount of Rs 1.16 Cr, which includes interest, TDS, and penal charges. The financial…

Twelve years.

That was the period for which Bernard Morrin, former director of Intensive Community Programmes Limited, was disqualified by the High Court earlier this year — one of the lengthiest bans imposed on an Irish company director in recent times.

The case began, on the surface, like many others: a service provider entering liquidation with large debts. But beneath the numbers was a different story. 

Intensive Community Programmes had been entrusted with delivering care services to vulnerable teenagers and young adults, under contracts with Tusla and the HSE. Yet when the company went into liquidation in 2019 with a deficit of over €620,000, the liquidator uncovered evidence that…

FIBES Conference and Exhibition Centre, Seville

The President of the Government of Spain, Pedro Sánchez, during his speech at the event “Forging a Common Agenda to Achieve Debt Sustainability in Developing Countries” (Pool Moncloa/Borja Puig de la Bellacasa)

The President of the Government of Spain, Pedro Sánchez, today advocated a “profound change” in the international debt architecture”, through “ambitious and innovative solutions based on international cooperation and solidarity”, which would turn…

Student loan borrowers have been on a wild ride over the past few years. 

The onetime dream of widespread debt forgiveness has been extinguished, and a five-year reprieve for people who had defaulted on student loans expired in May of this year. This summer, the Trump administration will garnish the wages, tax refunds, and federal benefits of individuals in student loan default, in a move that could potentially impact millions. 

It’s going to be a cruel summer for millions of Americans bracing for the worst, but there are steps that employers can take to support workers who are laboring under the financial burden of student loan debt. 

Benefits geared towards student loan assistance have become more popular over the…

Indian-origin engineer Shyamal Shah jailed for $1 million fraud in Auckland, New Zealand. (Photo: NZ Herald)

An Indian-origin engineer, Shyamal Sushil Shah, a former Auckland Council employee, has been sentenced to two years and two months in prison for over $1 million fraud from the public sector, New Zealand Herald reported. Shah pleaded guilty at the Auckland District Court and his plea for bail and home detention has been denied. Shah used to work as a water network engineer at Watercare and carried out the massive fraud over a 17-month period. He came up with a scheme of generating fake invoices under bogus names and payments to those were credited directly to Shah’s personal account. Some 40 fake invoices for fake entities like…

07/09/2025 – 04:19 PM

NEW YORK–(BUSINESS WIRE)–
RMG Acquisition Corp. III (the “Company”) today announced that, because the Company will not consummate an initial business combination within the time period required by its Fifth Amended and Restated Memorandum and Articles of Association, the Company intends to redeem all of the outstanding shares of Class A ordinary shares that were included in the units sold in its initial public offering (the “Public Shares”), at a per-share redemption price of approximately $10.00 and thereafter dissolve and liquidate.

As of the close of business on July 9, 2025, the Public Shares will be deemed cancelled and…

“This is probably the second time that such an application has been made,” Justice Atan Mustapha Yussof Ahmad said in a written judgment handed down recently.

“The earlier case was decided over a hundred years ago,” he added, citing the Seremban General Agency…