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    How SC’s Rejection of JSW’s Resolution Plan for Bhushan Steel Redefines Stakeholders’ Accountability and IBC Sanctity?
    2025-06-24

    The recent pronouncement by the Supreme Court in Kalyani Transco v. Bhushan Power and Steel Ltd & Ors serves as a stark reminder of the sanctity of IBC, and the perils of procedural laxity and opportunistic manoeuvring. The Apex court not only disapproved of the powers of NCLAT to judicial review over the decision taken by ED under PMLA but also delivered a scathing critique of the entire CIRP of BPSL, ultimately leading to the rejection of JSW Steel’s resolution plan and an order for liquidation.

    Filed under:
    India, Compliance Management, Insolvency & Restructuring, Litigation, Kings & Alliance LLP, National Company Law Tribunal
    Authors:
    Khushboo Saraf
    Location:
    India
    Firm:
    Kings & Alliance LLP
    Directors Have a Duty to Prevent Insolvent Trading: Understanding ASIC’s Updated Guidance
    2025-06-11

    Introduction

    In December 2024, Australian Securities and Investments Commission (ASIC) released an updated version of Regulatory Guide RG 217. The guidance is designed to assist directors in complying with their duty to prevent insolvent trading. It sets out four key principles for directors to avoid insolvent trading, explains the safe harbour defence (which offers protection from personal liability), and clarifies ASIC’s approach to assessing breaches of duty and the application of the safe harbour defence.

    Filed under:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA, England, Banking, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Ironbridge Legal, Corporate governance, Dispute resolution, Compliance, Corporations Act 2001 (Australia)
    Authors:
    Trevor Withane
    Location:
    Australia, Canada, Hong Kong, New Zealand, Singapore, United Kingdom, USA
    Firm:
    Ironbridge Legal
    General Newsletter, May 2025
    2025-05-08

    1 2 Capital Market 9 Dispute Resolution 14 Fintech 19 Media and Entertainment 24 RERA 27 Sports and Gaming 39 White Collar Crime 03 Competition Law 11 Employment Law 17 International Trade/ WTO 19 MCA 25 Restructuring and Insolvency 34 Technology 40 3 EXTENSION OF TIMELINE FOR FORMULATION OF IMPLEMENTATION STANDARDS PERTAINING TO SEBI CIRCULAR ON “SAFER PARTICIPATION OF RETAIL INVESTORS IN ALGORITHMIC TRADING”1 Securities Exchange Board of India (“SEBI”) issued a circular “Safer participation of retail investors in algorithmic trading” dated February 04, 2025, which aimed at ensuring safer

    Filed under:
    India, Arbitration & ADR, Banking, Capital Markets, Company & Commercial, Competition & Antitrust, Compliance Management, Employment & Labor, Insolvency & Restructuring, IT & Data Protection, Litigation, Media & Entertainment, Real Estate, White Collar Crime, DSK Legal, Corporate governance, Know your customer, Blockchain, Advertising, Fintech, Due diligence, Non-disclosure agreement, Tariffs, ESG, Litigation funding, Gaming, Cybersecurity, Anti-money laundering, Data privacy, Esports, Reserve Bank of India, Securities and Exchange Board of India, Unilever, Singapore International Arbitration Centre, Negotiable Instruments Act 1881 (India), Insolvency and Bankruptcy Code (India), Rights of Persons with Disabilities Act 2016 (India), Supreme Court of India, Court of Arbitration for Sport
    Location:
    India
    Firm:
    DSK Legal
    English Insolvency Service Drops Case Against Carillion Directors: What Does It Mean For Director Liability?
    2025-01-06

    The role and duties of company directors are well established in English law through the Companies Act and case law. These principles are widely applied in many jurisdictions, including the Bahamas, where UK cases about directors’ liability and related issues carry considerable weight.

    Filed under:
    Bahamas, United Kingdom, Company & Commercial, Compliance Management, Insolvency & Restructuring, ParrisWhittaker, Corporate governance, Insolvency Service (UK), Companies Act 2006 (UK)
    Authors:
    Jacy Whittaker , A. Kenra Parris-Whittaker
    Location:
    Bahamas, United Kingdom
    Firm:
    ParrisWhittaker
    Jurisdiction of the National Company Law Tribunal in Corporate Restructurings: Protecting Tax Revenue as Public Interest
    2024-12-20

    The National Company Law Tribunal (“NCLT”) is an adjudicating authority in India responsible for deciding matters related to amalgamations, mergers, insolvency and restructuring processes. In deciding such matters, one critical function of the NCLT is to balance the commercial objectives of companies with the interests of public stakeholders and regulators, ensuring that corporate restructurings do not compromise public interest.

    Filed under:
    India, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, S&R Associates, Panasonic Corporation, National Company Law Tribunal
    Authors:
    Rajat Sethi , Sumit Bansal , Shivani Chhabra , Taranjeet Singh
    Location:
    India
    Firm:
    S&R Associates
    Recent developments in directors’ liability in the UAE and England & Wales
    2024-09-09

    In this article, James Hyne and Nicola Jackson, Partners in Charles Russell Speechlys’ Corporate Restructuring and Insolvency team, based in the

    Filed under:
    United Arab Emirates, United Kingdom, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Charles Russell Speechlys, Corporate governance, Liquidation, Insolvency, Companies Act 2006 (UK)
    Authors:
    James Hyne , Nicola Jackson
    Location:
    United Arab Emirates, United Kingdom
    Firm:
    Charles Russell Speechlys
    Russia sanctions: the meaning of control and applicability to trustees in bankruptcy and directors' duties
    2024-08-29

    It is essential that any UK individual or entity doing business, managing funds/other economic resources, or providing financing or professional services, keeps abreast of the current UK Russian sanctions regime, which is chiefly set out in the Russia (Sanctions) (EU Exit) Regulations 2019 (the "Regulations"). The question of how the Regulations might apply to those with fiduciary duties – either as trustees or as directors – has been considered in two recent High Court cases.

    Filed under:
    Russia, United Kingdom, Compliance Management, Insolvency & Restructuring, Litigation, Tax, Trade & Customs, Mishcon de Reya LLP, Corporate governance, Due diligence, HM Revenue and Customs (UK), Office of Financial Sanctions Implementation (UK)
    Authors:
    Maggie Christiansen , Lily Munro , Shaistah Akhtar
    Location:
    Russia, United Kingdom
    Firm:
    Mishcon de Reya LLP
    No surprises: preparing for an exit
    2024-08-27

    Preparing a business for an exit can be a complex and time-consuming task.

    Filed under:
    Australia, Banking, Capital Markets, Company & Commercial, Compliance Management, Copyrights, Corporate Finance/M&A, Designs and trade secrets, Employment & Labor, Insolvency & Restructuring, Patents, Real Estate, Trademarks, Hall & Wilcox, Due diligence
    Authors:
    Steve Johns , Suzie Leask , Eliza Unger
    Location:
    Australia
    Firm:
    Hall & Wilcox
    Becker v Ford
    2024-05-03

    The judgment of Chief ICC Judge Briggs in Becker (A Bankrupt) v Ford & Ors [2024] EWHC 1001 (Ch) provides a useful summary of the matters to which the court should have regard when considering an application to lift the suspension of a bankrupt’s discharge.

    Filed under:
    United Kingdom, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Wedlake Bell, Insolvency
    Authors:
    James Latham
    Location:
    United Kingdom
    Firm:
    Wedlake Bell
    Third Circuit: Bankruptcy Court Lacks Discretion to Deny Examiner Appointment Motion in Large Chapter 11 Cases
    2024-03-26

    The Bankruptcy Code provides that, in chapter 11 cases where the court does not find "cause" for the appointment of a trustee, the court "shall" appoint an examiner, upon a request from the Office of the U.S. Trustee (the "UST") or any party-in-interest prior to confirmation of a chapter 11 plan. The examiner's role is to investigate the debtor's affairs or allegations of management misconduct, if either: (i) the court determines that the appointment would be in the best interests of stakeholders and the estate; or (ii) the debtor has qualifying unsecured debt exceeding $5 million.

    Filed under:
    USA, Compliance Management, Insolvency & Restructuring, Litigation, Jones Day, Corporate governance, Cryptocurrency, Confidential information, European Securities and Markets Authority, Supreme Court of the United States
    Authors:
    Oliver S. Zeltner
    Location:
    USA
    Firm:
    Jones Day

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