Headlines

A U.S. judge on Saturday authorized the sale of shares in the Venezuela-owned parent of Citgo Petroleum to an affiliate of Elliott Investment Management, following his approval earlier this week of a $5.9 billion bid from the company in a court-organized auction to pay Venezuela-linked creditors, Reuters reported. The sale order is the last major legal step to wrap a two-year auction aimed at paying up to 15 creditors for debt defaults and expropriations in the South American country.

Appellate tribunal NCLAT has rejected a plea against Voltas, which sought to initiate insolvency proceedings against the Tata Group firm by one of its operational creditors, the Economic Times of India reported. A two-member NCLAT bench has upheld the earlier orders of the Mumbai-bench of the National Company Law Tribunal (NCLT), which had on May 27, 2025 rejected the petition on the grounds of a pre-existing dispute.

Two select committees were on Monday granted more time by the Lok Sabha to submit their reports on the insolvency law and Jan Vishwas provisions amendment bills, the Economic Times of India reported. The matters were taken up amid Opposition din over the issue of Special Intensive Revision (SIR) of electoral rolls. The House has allowed time till the last day of the Winter session for a select committee to present its report on the Insolvency & Bankruptcy Code (Amendment) Bill, 2025.

Romanian prosecutors have conducted searches at twelve locations in Bucharest and two locations in the central-northern city of Targu Mures as part of a criminal investigation of the bankruptcy of Euroins Romania, part of Bulgaria’s Euroins Insurance Group (EIG), SeeNews.com reported.

It was found that last year’s profitability in the construction industry fell to the lowest level in 10 years, Biz.Chosun.com reported. According to the report “Analysis of 2024 management performance of construction companies subject to external audits and marginal corporations,” published by the Construction & Economy Research Institute of Korea (CERIK) on the 28th, the net profit margin of construction corporations subject to external accounting audits is 0.8%. CERIK said that it is the first time since 2015 that the net profit margin has fallen into the 0% range.

Bank of Israel Governor Amir Yaron signaled that the country is preparing for far more active oversight of stablecoins, CoinDesk.com reported. Speaking at the Bank of Israel’s Payments in the Evolving Era conference in Tel Aviv, Yaron framed private digital dollars as a payments force that regulators can no longer treat as peripheral. Yaron stressed that stablecoins have already become deeply embedded in global money flows, noting a market capitalization above $300 billion and more than $2 trillion in monthly transaction volume.

Two of China’s private data agencies withheld monthly home sales figures at the government’s behest, people familiar with the matter said, stoking transparency concerns in a critical sector of the world’s second-largest economy, Bloomberg News reported. China Real Estate Information Corp. and China Index Academy, which are among the country’s biggest private property data providers, didn’t disclose the combined sales of the nation’s 100 largest developers for November on Sunday.

Nodwin Gaming International Pte. Ltd., a leading player in youth entertainment, gaming, and esports, has announced that it will discontinue further funding to its majority-owned subsidiary Freaks 4U Gaming GmbH, AdGully.com reported. The decision follows extensive legal and financial consultations, after multiple rounds of support failed to deliver the expected turnaround. According to the company, Nodwin has backed Freaks 4U for several years under its limited recourse investment strategy.

China Vanke will seek bondholder approval to delay the repayment of a 2 billion yuan ($282.6 million) onshore bond, a filing late on Wednesday showed, a move that could trigger a new wave of anxiety in both financial and property markets, Reuters reported. A public bond extension would be the first for the state-backed property developer, a household name with many projects in China's biggest cities. A debt restructuring by Vanke, with 364.3 billion yuan of interest-bearing liabilities, could also potentially dwarf defaults by privately owned peers Evergrande and Country Garden this decade.