Tag: BANKRUPTCY

Termination of telecom licence will kill RCom resolution, Deloitte tells bankruptcy court

Deloitte, the resolution professional for (RCom), on Thursday told the bankruptcy court in Mumbai that the troubled telco’s insolvency process will go kaput if the...

My husband’s sister and brother-in-law declared bankruptcy. The family helped them out — but they still spend, spend, spend

My husband has a large family, and his siblings have varying levels of financial security. One of his sisters is married with teenage children, and...

Gujarat Foils Ltd: Bankruptcy court dismisses liquidator’s plea in favour of former management of Gujarat Foils

Mumbai: Any transaction carried out during a normal course of business can’t be termed as an undervalued transaction without any evidence. The dedicated bankruptcy court...

COVID-19 has caused real financial pain. So why did consumer bankruptcies drop in 2020?

By many measures, the pandemic induced all sorts of financial stress last year. But consumer bankruptcy cases — a way to address financial pain and...

View: A guru and a tycoon feel India’s endless bank salvage pain

After years of trying, making India’s broken banks whole is still very much like pulling teeth. The twists and turns in the $12 billion bankruptcy...

Liberty Group buys SBQ Steels in its second bankruptcy acquisition

Mumbai: The UK based Liberty group has acquired the bankrupt 0.25 million tonne SBQ Steels, culmulating a three year process in which the company was...

View: An urgent need for a cross-border insolvency framework

Covid-19 may create stress on External Commercial Borrowings (ECB) and guarantees issued for overseas borrowings of Indian corporates. The consequences will not only be bitter...

View: Fear of flattening the business curve

By Ritin Rai The Ordinance amending the Insolvency and Bankruptcy Code (IBC), and suspending the law for six months from June 5, was long overdue....

Hertz files for U.S. bankruptcy protection as car rentals evaporate in pandemic

NEW YORK (Reuters) – The more than a century old car rental firm Hertz Global Holdings Inc (HTZ.N) filed for bankruptcy protection on Friday after...

J.C. Penney has need for speed in bankruptcy, lawyer says

(Reuters) – J.C. Penney Co Inc (JCP.N) needs to exit bankruptcy proceedings in just a matter of months to survive the unprecedented financial strain of...

J.C. Penney files for bankruptcy protection

NEW YORK(Reuters) – J.C. Penney Co Inc (JCP.N) filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a...

J. Crew files for bankruptcy as preppy retailer succumbs to COVID-19 fallout

(Reuters) – J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list...

Exclusive: Investors to challenge Neiman Marcus bankruptcy loan, push for sale – sources

(Reuters) – An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb’s hedge fund Third Point LLC plans to challenge a...

Exclusive: Neiman Marcus to file for bankruptcy as soon as this week – sources

(Reuters) – Neiman Marcus Group is preparing to seek bankruptcy protection as soon as this week, becoming the first major U.S. department store operator to...