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Wednesday, December 08, 2021

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BANKRUPTCY NEWS

UK High Court declares Vijay Mallya bankrupt for Indian banks to realise debt

July 27, 2021 8:30 am

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.

Vijay Mallya has applied for 'another route' to stay in the UK, says lawyer

January 23, 2021 2:45 am

The UK Home Office has so far only confirmed on background that a confidential legal process remains ongoing before the extradition order can be executed.

Lord & Taylor files for bankruptcy in latest retail casualty of coronavirus pandemic

August 03, 2020 11:17 am

Lord & Taylor opened its flagship store on Manhattan's Fifth Avenue in 1914, and became known for upscale fashion and its holiday window display.

2019: The year Indian business tycoons faced bankruptcies, jail and death

December 31, 2019 12:16 pm

Here are some of the country’s biggest and most-storied businessmen who saw their fortunes fade.

Individual insolvency to begin soon: IBBI Chairman

August 10, 2019 1:06 am

“We are going to commence individual insolvency and start with the insolvency resolution of personal guarantors to corporate debtors. It is difficult to give a timeline, but it will happen very soon,” he said at an event on “Financial Distress, Bankruptcy and Corporate Finance” held at the Indian Institute of Management-Ahmedabad (IIM-A).

It’s broke, fix it

September 21, 2018 12:10 am

The IL&FS trouble exposes the weakness in financial regulatory architecture. Reforms are called for

Infra sector investment, bankruptcy reforms top priorities for govt: Economic Secretary

October 17, 2017 12:21 pm

Subhash Chandra Garg also said that the massive need in India is to make it a formal economy, a less cash economy, improving based on transactions that those are the areas where (we will work).

Proceedings under IBC: Bankruptcy filing picks up to deal with mounting bad loans

July 18, 2017 7:03 am

The number of cases under the Insolvency and Bankruptcy Code 2016 went up to 87 in June, compared with 7 in January. On a quarterly basis, 202 cases were admitted in April-June as against 35 in January-March, as per data from NCLT benches

Japan's airbag maker Takata files for bankruptcy protection

June 26, 2017 7:50 am

The Tokyo-based car parts giant is facing lawsuits and huge costs over an airbag defect linked to at least 16 deaths globally. Takata shares soared more than 40 percent on Friday after collapsing over the week as traders made bets on its likely bankruptcy.

Why test for bankruptcy law is a larger test for India

June 12, 2017 12:38 am

First adjudication this month, idea is to ensure quicker resolution of debt pile-ups, free up locked capital for fresh lending.

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