Shares in Reliance Communications fell as much as 2.3 percent in early trading on Thursday, a day after the Indian arm of Ericsson filed a petition seeking to drag the debt-laden telecom firm into insolvency due to unpaid dues, Reuters reported. The Swedish telecoms equipment maker, which signed a seven-year deal in 2014 to operate and manage Reliance Communications’ nationwide network, is seeking a total of 11.55 billion rupees ($180 million) from the company and two of its subsidiaries. Reliance Communications, widely known as RCom, reported its third quarterly loss in a row last month.

Ericsson's Indian subsidiary has filed insolvency petitions against Reliance Communications and two of its companies to recover unpaid dues, the Indian mobile operator said in a stock exchange filing on Wednesday, the International New York Times reported on a Reuters story. The Swedish telecoms equipment maker, which signed a seven-year deal in 2014 to operate and manage Reliance Communications' nationwide network, is seeking a total of 11.55 billion rupees ($180 million) from the three companies, the filing said.

Insolvent German airline Air Berlin has attracted buyer interest from China’s LinkGlobal Logistics, which is likely to join a growing list of suitors, German newspaper Bild said on Wednesday. The paper said LinkGlobal, which operates German regional airport Parchim, expressed its intention of making a bid to the airline’s administrator in a letter dated Aug. 31 from LinkGlobal’s managing director Jonathan Pang, Reuters reported. LinkGlobal pledged to hand in a bid by the Sept. 15 deadline, according to the letter, a copy of which Bild said it had obtained.

India’s top court moved on Monday to protect buyers of homes sold by builder Jaypee Infratech, which is being pursued in a bankruptcy court over unpaid loans, telling its parent Jaiprakash Associates to deposit 20 billion rupees ($313 million) with it by Oct. 27, Reuters reported. Many buyers of apartments in a mega township project being built by Jaypee Infratech on the outskirts of New Delhi have paid for them but have yet to take possession. They filed a petition with the court because of worries they would lose their money.

Tata Steel has ditched its £15bn UK pension fund after receiving the green light from regulators, boosting the prospects of the Port Talbot steelworks. The company said it had received approval from the Pensions Regulator and that it had separated the British Steel Pension Scheme from its UK business. Tata had claimed that the retirement fund was a financial drag that threatened to pull the country’s largest steelmaker into insolvency, throwing thousands of jobs and a bedrock industry into doubt, the Financial Times reported.

Commodity merchants Vitol and Mercuria are on the shortlist to buy Noble Group’s $1bn Americas-focused oil business as the debt-laden trading company scrambles to pay down debt to avoid bankruptcy, the Financial Times reported. Noble has asked the shortlisted bidders to submit formal offers before the end of the month when it hopes to announce a deal for the oil unit, according to people with knowledge of the process.

The New Zealand arm of British fashion retailer Topshop said on Thursday that it had been placed in receivership, just two years after the brand arrived in the country, the International New York Times reported on a Reuters story. Top Retail Limited, which owns the licence to operate Topshop in New Zealand, said in an emailed statement that its two stores would stay open until a final decision was made on their ownership. Like its Australian counterpart, the chain has struggled amid increased competition and posted losses, its receiver firm McGrathNicol said in a statement.

The highest concentration of shadow loans in China is to be found in its slowest-growing province, a study by UBS Group AG shows. The value of shadow loans extended by regional banks in Liaoning, in the northeastern rust-belt region, amounted to 95 percent of their total lending in 2016, according to estimates provided to Bloomberg by UBS analyst Jason Bedford. Lenders in Liaoning have turned to informal banking arrangements to help them get around rules that restrict them from making traditional loans outside their home province, Bloomberg News reported.

China’s cities, towns and counties are facing surging borrowing costs as investors anticipate landmark defaults, Bloomberg News reported. A local government financing vehicle in the country’s east was recently forced to pay a coupon on a bond that matched a record. Average financing costs in credit markets for the units that finance roads, bridges and sewers have jumped, with yields for some borrowers surging the most in six years.

Pressure is building on an International Swaps & Derivatives Association panel of investors and bankers to end Noble Group Ltd.’s credit-default swap impasse, Bloomberg News reported. ISDA’s determinations committee will meet Wednesday to reconsider whether Noble triggered a credit event -- the precondition for a payout on CDS contracts -- when it arranged a 120-day extension to a loan facility in June.