53% in Canada within $200 of financial insolvency
More than 53% in Canada say that they are $200 or less from being financially insolvent, says the latest survey...
List of amendments made in IBC laws to pave way for pre-pack scheme
The President promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 on 4 April 2021, paving the way for pre-pack...
US bankruptcy filings reverse downward trend; jump 39% in March over February
The effects of government supports given to businesses and individuals last year owing to Covid-19 seems to be petering out...
Gurgaon-based hotelier drags OYO subsidiary into insolvency court
Gurgaon-based hotelier Rakesh Yadav, who runs a 21-room hotel by the brand name Yellow White Residency has initiated insolvency proceedings...
Highlights of pre-pack scheme for MSMEs
The government has given a go-ahead to the pre-pack scheme for micro, small and medium enterprises (MSME) through an ordinance...
Financial creditors recover only 10% of claims in 23 resolutions during Oct-Dec quarter
In the October-December 2020 quarter, 23 Corporate Insolvency Resolution Processes (CIRPs) yielded resolution plans helping banks and other financial institutions...
The story of a UK real estate company and its broken promises
It looks like the malaise that afflicts the real estate sector – misappropriation of funds and delay in delivery --...
Is there a need for basic guidelines on fixing insolvency professionals’ fee?
The subjective nature of regulations governing the fee charged by insolvency professionals (IPs) often leads to undue scrutiny of IPs,...
ED files case against Era Infra CMD in a Rs-251 crore fund diversion case
Promoters of another company undergoing corporate insolvency resolution process have been found to be involved in diversion of bank loan....
NCLAT orders liquidation of KS Oils as NCLT ‘ignores’ creditors’ repeated petitions
In a scathing commentary on the failure of the National Company Law Tribunal (NCLT) to perform its role, the National...