The Supreme Court on Friday agreed to list for an early hearing the appeal of US-based creditor Glas Trust Company LLC against a judgment of the NCLAT, which had stayed insolvency proceedings against ed-tech firm BYJU's and approving its Rs 158.9 crore dues settlement with the BCCI, the Economic Times of India reported. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest.

Country Garden Holdings Co.’s sales slump dragged on in August, exacerbating the Chinese developer’s liquidity woes as it battles a wind-up petition, Bloomberg News reported. Contracted sales for August declined 57% from a year earlier to 3.43 billion yuan ($483 million), following a 72% drop in July, according to an exchange filing on Thursday. The poor sales underscore the challenges facing the distressed real estate giant, which is counting on a turnaround in revenue to appease debt holders and fight off liquidation.

A Chinese central bank official raised the possibility of further relaxing the amount of reserves banks are required to hold but signaled that no aggressive monetary easing is in the pipeline amid growing calls for Beijing to consider bolder moves to revive sluggish growth, the Wall Street Journal reported. “The cut on the reserve requirement ratio at the beginning of this year is still showing its effect,” Zou Lan, head of the People’s Bank of China’s monetary policy department, said at a press briefing on Thursday.

Malaysia’s central bank extended its policy-rate pause yet again, declining to join a growing group of peers starting their easing cycles as it keeps an eye on inflation, the Wall Street Journal reported. Bank Negara Malaysia on Thursday maintained its overnight policy rate at 3.00%, where it has been at since May last year. “At the current OPR level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects,” Bank Negara Malaysia said.

U.S.-based Glas Trust is not part of a key panel overseeing the insolvency proceedings of Indian education-technology giant Byju's, and will need to substantiate the $1 billion claim of lenders it represents, according to documents and three sources, Reuters reported. Byju's was once a darling of global investors and valued at $22 billion in 2022, but is now facing insolvency due to its dispute with U.S. lenders. The company became popular by offering online training courses during the COVID-19 pandemic. Its insolvency officer, Pankaj Srivastava, told Glas in a Sept.

For years, mortgages in Japan have been nearly cost free. Homeowners are now bracing for that to change, the New York Times reported. Japan’s central bank had maintained benchmark interest rates near zero since the mid-1990s. As a result, many home buyers have gotten used to paying between 0.3 and 0.4 percent for floating-rate mortgages, or just over 1 percent for longer-term, fixed-rate ones.

Australia’s commodity-rich economy recorded its weakest growth momentum since the early 1990s in the second quarter, as consumers and businesses continued to feel the impact of high interest rates, with little expectation of a reprieve from the Reserve Bank of Australia in the near term, WSJ Pro Bankruptcy reported. The economy grew 0.2% in the second quarter from the first, with annual growth running at 1.0%, the Australian Bureau of Statistics said Wednesday. The results were in line with market expectations.

Applications for bankruptcy rose in the first half of 2024, as did the number of people declared eventually bankrupt, the Straits Times reported. Recent Law Ministry (MinLaw) data shows that 2,334 people filed for bankruptcy in the six months to June 30, up 25 per cent on the same period in 2023, while 594 were later declared bankrupt, an increase of 11 percent. Read more. (Subscription required.)