Business insolvencies in Germany down 31.9% from October 2019
In October 2020, local courts in Germany reported 1,084 business insolvencies. The Federal Statistical Office (Destatis) reports that this was...
Homebuyers’ fate hangs in balance as no bidders show interest in HDIL
Thousand of homebuyers’ fate hangs in balance as Housing Development and Infrastructure Limited (HDIL), the Mumbai-based infrastructure company, has not...
RBI report suggests gross NPAs of banks may double to 14.8% by Sept 2021
Macroeconomic stress test by the Reserve Bank of India (EBI) suggests that the Scheduled Commercial Banks’ Gross NPAs may increase...
Insolvency professionals should be given enough free hand for engagement of professionals: IP body
The Insolvency and Bankruptcy Board of India (IBBI) in December 2020 has sought suggestions from stakeholders on the issue of...
US Bankruptcy filings drop 30% in 2020 as govt stimulus supports distressed business, individuals
Total US bankruptcy filings in 2020 dropped 30% as the government and lenders offered stabilization measures in response to the...
Resolution professionals have a limited yet crucial role in pre-pack scheme
The role of a resolution professional (RP) in the new pre-pack scheme has been limited to that of an overseer...
Pitfalls of pre-packs: How the Insolvency panel tried to address these concerns
While designing the pre-packs framework, the sub-committee of the Insolvency Law Committee had kept in mind the concerns/lacunae of the...
CBI files Rs 4,700 crore bank fraud case against under-liquidation infra firm Coastal Projects
Promoters of another company, which had undergone corporate insolvency resolution process, have been found committing bank frauds. The Central Bureau...
New pre-pack framework allows promoters to keep control of CD; stipulates a shorter timeline
And the much-awaited pre-pack scheme is here. The government-constituted sub-committee of Insolvency Law Committee has finally drafted the pre-pack framework,...
In first resolution of 2021, MCPI Pvt Ltd takes over the reins of Surat-based Garden Silk Mills
The year 2021 saw its first resolution under the Insolvency and Bankruptcy Code (IBC), when the Ahmedbad bench of the...