A parliamentary panel in India recommended lowering the minimum age for managing directors from 21 to 18 and raising the maximum age to 75. The committee also proposed measures for reverse-flipping of foreign companies and dedicated NCLT benches.
Varta AG, parent of the Varta battery brand, files for insolvency under self-administration due to funding gap, worsened market conditions, and loss of a key customer (reportedly Apple), affecting subsidiaries but not the profitable household battery unit.
The Supertech Twin Towers in Noida were demolished in 2022 after the Supreme Court upheld their illegal construction. Four years later, the legal dispute continues, now focused on refunding homebuyers amidst Supertech's insolvency, with a Supreme Court plea postponed to July 2026.
The Christian Brothers, facing estimated liabilities of $774m from abuse claims, have obtained a moratorium on all lawsuits against them. The order plans to sell 36 properties for $216m to partially meet these claims, a move survivors and lawyers describe as an "ambush" and "gut-wrenching."
Udaan's offshore holding company, Trustroot Internet Pvt Ltd, has been placed into liquidation in Singapore after defaulting on $170 million in convertible notes. Global creditors initiated insolvency proceedings, appointing Alvarez and Marshal as liquidator. The company's Indian entities remain insulated.
Financier Lex Greensill has been banned from running UK companies for nine years following the 2021 collapse of his supply chain firm. The Insolvency Service cited his unfitness due to breaches of duty causing significant losses to Credit Suisse.
Members of Jaypee Golf Club in Noida are demanding answers from the resolution professional and Adani Group regarding ownership and alleged changes to the club's master plan as Jaiprakash Associates' insolvency process concludes. Concerns include shortened lifetime memberships and the opening of the club to the public with commercial development.
The number of UK businesses in critical financial distress rose by 36.9% in Q1 2026 compared to Q1 2025, reaching 62,193 companies, according to insolvency practitioners Begbies Traynor. All 22 monitored sectors saw increases, with hospitality, leisure and sports businesses worst affected. The restructuring firm blamed tax rises imposed by Chancellor Rachel Reeves and economic fallout from the Middle East conflict, warning that zombie businesses are increasingly likely to fail.
The number of UK businesses in critical financial distress rose by 36.9% in Q1 2026 compared to Q1 2025, reaching 62,193 companies, according to insolvency firm Begbies Traynor. Hospitality, leisure, and sports sectors were worst hit, with hotel firms seeing a 69.3% increase in critical distress. The firm blamed tax rises imposed by Chancellor Rachel Reeves and economic fallout from the Middle East conflict, warning that zombie businesses could fail this year.
Cleverbuy GmbH has ceased all business operations with immediate effect due to payment problems, filing for insolvency. Over 1,000 criminal complaints have been filed against the company, including by Apple and Samsung. The CEO is in pre-trial detention. Negotiations with DIS-CONNECT GmbH to rescue the company have failed. The next court hearing is scheduled for May 6.
Allianz Trade pubblica l'Insolvency Report con stime di crescita delle insolvenze commerciali del 6% rispetto all'anno precedente. Il dato potrebbe aumentare ulteriormente in caso di prolungamento del blocco dello stretto di Hormuz.
SBI has approached the Supreme Court seeking review of its February 13 judgment that barred telecom spectrum from being treated as an asset under insolvency proceedings. Acting for Aircel lenders, the bank warned of far-reaching implications for the banking system and infrastructure financing. The petition, filed on March 30, argues the ruling contains errors and overlooks key legal questions regarding spectrum usage rights and government dues under the IBC. The verdict has stalled resolution cases for both Aircel (admitted in 2018) and Reliance Communications (admitted in 2019).
