Headlines

National carrier Air Calédonie filed for bankruptcy protection on March 27, 2026, in regional French courts, The Street reported. The flag carrier for the remote French overseas territory of New Caledonia, Air Calédonie has faced almost two months of protests over the decision to move the airline’s base in the capital city of Nouméa to a more distant airport. The carrier serves a remote territory in the South Pacific made up of more than 130 smaller islands. For many locals, the airline is a lifeline for transportation to hospitals, grocery stores and other critical infrastructure.

India has proposed an overhaul of its bankruptcy law, including allowing financial creditors ‌to initiate insolvency proceedings and tightening deadlines, in a bid to speed up resolutions and promote ease of doing business, Reuters reported. Resolutions of stressed assets in India have been delayed despite a mandated 330-day timeline under the Insolvency and Bankruptcy Code, introduced ​in 2016, largely due to procedural and legal hurdles. Cases often pile up for admission at ​the National Company Law Tribunal, quasi-judicial body that adjudicates matters related to companies.

The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals filed by the BSE, ruling that insolvency courts have the authority to order the defreezing of Demat accounts of companies undergoing insolvency proceedings, The Economic Times reported. In its order, a two-member bench of the appellate tribunal said that the National Company Law Tribunal (NCLT) has clear jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) to hear such matters and pass necessary directions.

In a significant blow to the regional food production sector, the Bursa 1st Civil Court of Intellectual and Industrial Rights has officially ordered the bankruptcy of the Turkish wafer giant Master Choco Gıda, P.A. Turkey reported. Despite an eight-year run that saw the company become a major player in wafer and chocolate production, a final attempt to restructure its debts via a concordat (debt restructuring) agreement was rejected by the court on March 29, 2026.

Gareth Sowter, 51, of Lower Road, Great Amwell, was declared bankrupt in April 2021 after failing to pay more than £100,000 to the prep school attended by his three sons, the Royston Crow reported. He promised to use a sizeable inheritance to settle the debts, but instead transferred more than £100,000 to his friends and family, breaking insolvency laws. Sowter was jailed for two years and two months at the Old Bailey on Thursday (March 26) after pleading guilty to offences under the Insolvency Act 1986.

Frutas Tadeo SA has filed for bankruptcy, a procedure currently being handled by the Commercial Court number 2 in Santa Cruz de Tenerife, Tenerife Weekly reported. This represents a complete insolvency, as the financial statements reveal the absence of assets. The court has granted creditors 15 days to evaluate the appointment of an insolvency administrator. If any irregularities are identified, the social action of liability against the administrator may be pursued. Lastly, the report should indicate whether there are sufficient grounds to classify the bankruptcy as culpable.

A French decree will protect investors’ cryptos when platforms go bankrupt, The Currency Analytics reported. As of April 2026, holders of digital assets will have the same rights as those with traditional financial securities. The decree follows reforms launched in 2024. It strengthens the legal framework around digital assets. If a platform collapses, users’ cryptocurrencies remain their property. All platforms registered in France are affected. They must separate clients’ assets from their own funds.

Italy has approved European Union‑mandated measures to create a more uniform framework for alternative investment funds, especially credit funds, whose importance ​has grown as a source of financing for companies outside of ‌the banking system, Reuters reported. Italy's move to align its rulebook with EU standards comes amid mounting financial stability concerns over the $2 trillion global private credit market, which is ​showing signs of strain in the U.S. In the EU, however, ​policymakers are intensifying efforts to expand nonbank financing for companies ⁠to help the real economy.

Bharat Rashtra Samithi (BRS) spokesperson Manne Krishank on Wednesday accused the Telangana government of awarding ₹2,500 crore in contracts to KLSR Infratech, a company currently under bankruptcy proceedings and investigation, The News Mill reported. The Enforcement Directorate (ED) had raided KLSR Infratech in 2018 and designated it a shell company. Speaking to ANI, Krishank stated that NCLAT member Justice Sharad Kumar recused himself from a case involving KLSR Infratech after citing pressure from a senior judge to favor the company.

British lenders last month approved the most mortgages ‌in three months and consumer credit grew at the fastest pace in nearly two years, Bank of England data showed on Monday ahead of a potential hit from higher borrowing costs caused by the Iran war, Reuters reported. The BoE said ​62,584 new mortgages for house purchase were approved in February, up from 60,246 in ​January. Economists polled by Reuters had pointed to 61,250 approvals during the month.