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Latest Articles in bankruptcy

UK High Court Declares Vijay Mallya Bankrupt For Indian Banks To Realise Debt

The 65-year-old businessman, meanwhile, remains on bail in the UK while a 'confidential' legal matter, believed to be related to an asylum application, is resolved in connection with the unrelated extradition proceedings.

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Indian Banks Back In UK Court To Pursue Vijay Mallya Bankruptcy Order

Mallya’s barrister, Philip Marshall, referred to witness statements of retired Indian judges in previous hearings to reiterate that there is “public interest under Indian law” by virtue of the banks being nationalised.

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Malaysia's AirAsia Group Postpones Fourth-Quarter Results To End-March

Malaysian market regulators have granted listed companies temporary relief measures in response to the coronavirus pandemic.

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Jet Airways Stock Jumps 5 % As Jalan Kalrock Consortium Expects To Restart Jet In 4-6 Months

Jet Airways, the once-storied full-service carrier was grounded in early 2019 and subsequently is undergoing proceedings under the Insolvency and Bankruptcy Code (IBC).

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China's Luckin Coffee files for bankruptcy in US, months after Nasdaq delisting over 'fraudulently' inflating sales

China's Luckin Coffee files for bankruptcy in US, months after Nasdaq delisting over 'fraudulently' inflating sales

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Mahindra's Quarterly Profit Slides On Booking Loss For South Korean Unit

Mahindra booked a one-time loss of 12.10 billion rupees ($165.93 million) related to Ssangyong Motor, the company said. The South Korean automaker has filed for bankruptcy.

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Creditors Seek Bankruptcy Of China's Once High-Flying HNA

HNA Group said in a WeChat post on Friday it had been notified by a Hainan court that its creditors had acted because it was unable to pay its debts. It said it would cooperate with the court.

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Indian Banks Pursue UK Bankruptcy Order Against Vijay Mallya

The exchange between the lawyers got heated at several points during the course of the virtual hearing, also being followed by Mallya, with Judge Briggs stepping in to urge a focussed question and answer approach to expedite the proceedings.

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US States Seek $2.2 Trillion From Oxycontin Maker Purdue Pharma

The company values a proposal to settle litigation, which includes providing addiction treatment and overdose-reversing drugs, at more than $10 billion.

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COVID-19 May Lead To Large-scale Bankruptcies: Survey

It found that close to 80 per cent of respondents think any recovery would be slow or stagnant in the short-term before picking up eventually in the medium-term.

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Revoke The IBC Suspension For Greater Economic Good

Capacity creation at the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) levels should be taken up urgently.

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World's Second-Oldest Airline, Avianca, Driven To Bankruptcy By Coronavirus

Avianca has not flown a regularly scheduled passenger flight since late March and most of its 20,000 employees have gone without pay through the crisis.

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Govt To Start DHFL's Bankruptcy Proceedings In Latest Shadow Banking Crisis

DHFL’s owes its lenders nearly 1 trillion rupees including several mutual funds, banks, pension funds, insurance firms and retail investors.

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No Need To Escalate One Case To Reflect Everything To Do With IBC: Sitharaman

Bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.

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RCom CEO Steps Down To Focus On US Unit's Bankruptcy Process

Anil Ambani-led RCom filed for bankruptcy in India earlier this year as lack of regulatory approval for asset sales.

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