China Evergrande liquidators’ lawsuit to claw back funds from the builder’s auditors will finally reach its first public court hearing in May, about two years after being filed, Bloomberg reported. The parties in the case — China Evergrande Group (in liquidation) and PricewaterhouseCoopers International — will gather in the Hong Kong High Court on May 18, according to the court schedule on its website. The hearing will focus on whether PricewaterhouseCoopers International can strike out the claims, it said.
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Misuse of Insolvency and Bankruptcy Code by Loan Defaulters Has Tendency to Badly Impact Economy: HC
A bench of Justices Manish Pitale and Shreeram Shirsat, in an order passed on Wednesday, said such strategies by loan defaulters frustrate the very objective of the IBC and paralyse the whole process of lawful steps taken by secured creditors, adding that the court cannot remain a mute spectator when misuse of legal provisions demonstrates failure of justice, the Economic Times of India reported.
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The Bank of Japan held interest rates steady on Thursday but maintained its bias for tighter monetary policy, warning that surging oil prices driven by the Middle East conflict could exacerbate inflationary pressures, Reuters reported. Governor Kazuo Ueda said the BOJ board was somewhat more focused on upside risks to inflation than downside risks to growth from the conflict, keeping alive market expectations for a near-term rate hike. "Before the Middle East conflict, household and corporate activity had been firm.
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Japan will roll out subsidies for fuel products from Thursday to cap gasoline prices — which have risen to all-time highs following the escalating war in Iran — at around ¥170 ($1.10) per liter, the Japan Times reported. The national average retail price of gasoline rose to a record ¥190.8 per liter on Monday, up by ¥29 per liter from a week earlier, the Agency for Natural Resources and Energy reported on Wednesday. The average price per liter for diesel and kerosene also rose to ¥178.4 and ¥154.1, respectively — both all-time highs as well.
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The National Company Law Appellate Tribunal (NCLAT) on Monday restored an insolvency appeal against Dilip Buildcon, a construction and infrastructure development company, the Economic Times of India reported. A two-member bench of the NCLAT on December 12, 2025, dismissed the appeal filed by Shyamji Construction Co against Dilip Buildcon on the ground of 'non-prosecution'. However, an application was filed by Shyamji Construction Co for condonation of delay and restoration of appeal against Dilip Buildcon, which was allowed.
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China’s economy got off to a solid start this year but that momentum may prove hard to sustain as the world’s largest oil importer navigates the conflict in the Middle East and continued pressures at home, the Wall Street Journal reported. Data on Monday showed retail sales got a lift over January-February thanks to the extended Lunar New Year holiday, while industrial production rebounded on surging exports. Fixed-asset investment meanwhile improved after a decline last year.
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