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A fine jewellery wholesaler embroiled in an alleged US$1 billion bank fraud in India has filed for Chapter 11 protection in New York, alongside two of its US subsidiaries.
01 March 2018
India has initiated a set of overhauls for its recently enacted Insolvency and Bankruptcy Code, while a Mumbai court has rejected a Pune-based paint company’s attempt to injunct insolvency resolution proceedings in favour of a winding-up application predating the new regime.
09 February 2018
Now in its 20th year, the International Women's Insolvency & Restructuring Confederation (IWIRC) hosted its inaugural Pacific Rim conference in August, marking the first-ever collaboration between IWRIC's networks in Singapore, Hong Kong, Malaysia, China and Japan.
07 September 2017
The cross-border provisions in India’s new Insolvency and Bankruptcy Code formerly came into effect at the beginning of this month after publication in the Gazette of India – but lawyers say there is still a long way to go before they are useful.
10 April 2017
A thorough overhaul of the UK’s procedural framework for insolvency becomes effective this week against a lukewarm reception, while the Australian government has updated proposed reforms to its insolvency regime taking account of a consultation last year.
05 April 2017
An English court has for the first time upheld the enforceability of a US judgment that was not preceded by active proceedings between the parties, ruling that a US$172 million judgment debt against international metalworking group Essar Steel is enforceable in the UK.
20 March 2017
A Hong Kong court has reprimanded a Hungarian businessman for trying to use insolvency law to wrestle control of a global kitchenware business from his cousin, finding his winding-up petition to be without merit on all counts.
06 March 2017
Pulkit Gupta, director at Ernst & Young in Delhi, talks through the new Indian Insolvency and Bankruptcy Code, arguing that while it is not perfect, it’s the best law India could have hoped for in the current circumstances.
17 February 2017
An Indian court has ordered the winding up of Indian billionaire politician Vijay Mallya’s United Breweries Holdings Company – the parent to collapsed Kingfisher Airlines and construction materials manufacturer UB Engineering – as India’s government filed a request for the businessman’s extradition from the UK.
09 February 2017
A Mumbai-based tribunal has placed construction materials manufacturer UB Engineering in insolvency proceedings under India’s fledgling Bankruptcy Code, days after its owner was separately charged over allegations related to the collapse of Kingfisher Airways.
06 February 2017
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