Headlines

Azul has received U.S. bankruptcy judge approval for its chapter 11 plan, clearing the way for a balance-sheet overhaul less than seven months after the Brazilian airline sought court protection, the Wall Street Journal reported. Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern District of New York approved the largely consensual plan, overruling objections from the U.S. Trustee related to third-party releases, exculpation provisions and certain fees.

India's appellate tribunal, the National Company Law Appellate Tribunal (NCLAT), has set aside a National Company Law Tribunal (NCLT) order that rejected Culver Max Entertainment's insolvency petition against an Odisha-based fintech firm, offering relief to the broadcaster, which was formerly known as Sony Pictures Network India, LiveMint.com reported. NCLAT passed the case back to the Cuttack bench of NCLT, directing the court to hear the matter afresh.

Gifts, grocery bills, travel expenses: holiday spending can cause many surprises and headaches for Quebec households when credit card bills arrive in January, the Canadian Press reported. The beginning of the year is a busy time for licensed insolvency trustees, as shown by statistics compiled by the Office of the Superintendent of Bankruptcy Canada. In January 2025, the number of consumer insolvency filings in Canada increased by 20 per cent compared to the previous month.

An application for a moratorium by a group of eight companies, including Autobahn Rent A Car, was dismissed by the Singaporean High Court on Friday, the Business Times reported. The group had sought a six-month moratorium and a scheme of arrangement in an application heard by Judicial commissioner Sushil Nair. In earlier court filings seen by The Business Times, 22 creditors opposed the application. With an extended moratorium no longer on the cards, it opens up the group to creditor actions and insolvency proceedings, which may include being wound up.

Two bosses of the private equity group behind deals including an acrimonious takeover of Maker & Son, a luxury furniture business, have been banned from running companies over “unauthorised” banking transactions worth almost £14 million, The Times reported. The bans relate to what the government’s Insolvency Service called “exploitation” of the banking system, which it said left “behind insolvencies worth more than £52 million”.

When President Trump began raising tariffs earlier this year, government officials and economists feared Mexico’s export-led economy would take a devastating hit. Instead, Mexican exports to the U.S. have grown, the Wall Street Journal reported. Because Mexico’s ultimate tariff rate ended up lower than for most other countries, the disparity has helped Mexican exports fill some of the gap left by Chinese products subject to higher levies. Producers seeking a foothold in the U.S.

Canada is in a unique position to leverage America’s need for lumber as officials review the Canada-United States-Mexico Agreement (CUSMA) in the New Year, according to a trade expert, BNNBloomberg.com reported. U.S. President Donald Trump claims the U.S. doesn’t need anything from Canada yet Canada produces about 25 per cent of all U.S. lumber demand. Nearly 90 per cent of softwood lumber is exported to the American market. “The good news is they need our wood. We think that there’s an ability to make a deal at some point,” Daryl Swetlishoff, head of research at Raymond James Ltd.

Lebanon’s Cabinet on Friday approved a draft law to determine the extent of losses suffered by Lebanese banks during the country's financial meltdown in 2019 and provide a mechanism to return depositors' funds that were wiped out at the time, the Associated Press reported. The financial collapse, which wiped out billions in savings and left many unable to access their funds, was part of a fiscal crisis that followed decades of corruption, financial mismanagement and nefarious profiteering.

Russia’s financial system is reportedly coming under more strain as Moscow’s war on Ukraine nears the end of its fourth full year, Fortune reported. The White House is seeking to revive peace talks this weekend with Ukrainian President Volodymyr Zelensky due to meet President Donald Trump in Florida on Sunday. Russian forces stepped up their bombardment of Ukraine ahead of the meeting, but prolonged fighting presents risks for the economy. “A banking crisis is possible,” a Russian official told the Washington Post recently on condition of anonymity.

Brazilian union Sindipetro-NF, one of the largest representing Petrobras workers, has rejected the most recent proposal by the state-run oil firm to end a 12-day-long strike, it said in a statement on Friday, Reuters reported. Sindipetro-NF represents about 25,000 workers in the oil industry, including ones in Petrobras' offshore oil platforms in the Campos basin, the second-highest for oil production in Brazil.