Ravi Mittal, chairperson, Insolvency and Bankruptcy Board of India (IBBI) said companies in India have yet to learn to use the Insolvency and Bankruptcy Code (IBC) to make themselves more productive.
Notably, the post-pandemic jump in costs of raw materials such as plastic resin, as well as labour and freight, had only further dented Tupperware margins.
China’s Evergrande Group — once the country’s second-largest property developer — on Thursday submitted a bankruptcy petition in New York,…
Go First Airlines on Tuesday announced that its flight operations will remain cancelled from May 3 to May 5 adding that a full refund will be issued to the passengers.
A source at P&W told ANI that the budget airline has a lengthy history of missing its financial obligations to Pratt & Whitney.
BlockFi and eight of its affiliates have filed for Chapter 11 bankruptcy Code in the US Bankruptcy Court for the District of New Jersey to provide the company with the "opportunity to consummate a comprehensive restructuring transaction that maximises value for all clients and other stakeholders".
In a letter to FTX employees, accessed by CoinDesk, the former CEO apologized to them, saying he is "deeply sorry about what happened".
The Supreme Court on Friday noted that freebies announced by political parties may push the state towards imminent bankruptcy.
The winner will take charge of a bankrupt nation that is in talks with the IMF for a bailout, with its 22 million people enduring severe shortages of food, fuel and medicines.
The airline said the move is "to allow the company to successfully restructure and reorganise its finances to navigate the Covid-19 crisis and emerge as a leaner and better-capitalised airline", reports Xinhua news agency.
