Headlines

The National Company Law Tribunal has allowed the withdrawal of corporate insolvency resolution proceedings against ATS Group’s Nobility Estates Private Limited, the developer of the premium residential project Le Grandiose in Sector 150, Noida, bringing relief to more than 600 homebuyers, the Economic Times of India reported. The withdrawal application was filed by resolution professional Hitesh Goel on behalf of ASK Trusteeship Services Private Limited under Section 12A of the Insolvency and Bankruptcy Code.

Liquid Wind AB, the parent company of the Liquid Wind Group, was declared bankrupt on 11 May 2026, FuelCellsWorks.com reported. Lawyer Lars Melin of the law firm Styrks was appointed as bankruptcy trustee. Affected employees have held meetings with the bankruptcy trustee and his colleagues at the law firm handling the bankruptcy proceedings. The business – including the subsidiaries in Sweden, Denmark and Finland – is now up for sale.

By any measure, Tom Hu should be in default on a $730,000 bank loan for his plastics business in China. He barely brings in enough revenue to pay expenses and can’t cover the debt costs. Yet rather than calling in the loan, his bank lets him defer payments — keeping him afloat, while avoiding another past-due loan on its books. Stories like Hu’s are playing out across China as banks grapple with a growing pile of bad debt. It’s impossible to quantify the true extent of the problem, though most economists say the ratio of bad loans is significantly higher than the 1.5% official rate.

Venezuela said Wednesday it would begin a process of restructuring its towering government debt, seeking to take advantage of warming relations with the U.S. to normalize ties with creditors and regain access to international financial markets, the Wall Street Journal reported. With a public debt load estimated as high as $170 billion, Venezuela’s restructuring promises to be one of the largest and most complex efforts to renegotiate sovereign debt, economists say. The country went into default in 2017.

Stratacache, a company that sells in-store digital screens to retailers, is liquidating the U.K. arm of its business, AdWeek.com reported. The process includes Stratacache U.K. as well as its company PRN U.K., according to public records. The filings indicate that both Stratacache U.K. and PRN U.K. will close, selling off assets to pay creditors. The companies’ creditors appointed Mark Supperstone and Simon Jagger, both insolvency practitioners with S&W Partners, to wind down the businesses and liquidate their assets.

The U.K.’s economy outpaced the U.S. and most of its European peers in the first quarter of the year, but that resilience is set to be severely tested as the effects of the conflict in the Middle East persist, the Wall Street Journal reported. Britain’s economy has struggled to gain momentum for much of the past two decades, recently suffering not just from the headwinds of the Covid-19 pandemic and Russia’s full-scale invasion of Ukraine, but the lingering hit to business investment stemming from its exit from the European Union.

Companies in Australia and New Zealand are beginning to signal the financial strain from the U.S.-Israeli war on Iran, as higher fuel prices stoke inflation, dent business and consumer confidence, and weigh on corporate earnings. Air New Zealand, New Zealand's flag carrier, forecast its biggest annual pre-tax loss in four years, two months after withdrawing its earlier 2026 outlook, as the Iran ​war pushed up jet fuel prices, inflating costs and compounding pressure from weak demand and fleet constraints.

Federal prosecutors arraigned Danish researcher Poul Thorsen on wire fraud and money laundering charges tied to the alleged theft of CDC grant money for autism research after his extradition from Germany, Becker's Behavioral Health reported. Prosecutors allege Mr. Thorsen stole more than $1 million in federal grant money awarded to fund studies examining the relationship between autism and exposure to vaccines, cerebral palsy and infection during pregnancy, and childhood development and fetal alcohol exposure.

Canadian home sales posted a modest increase in April from March ​after a slow start to the month, ‌and prices edged lower, data from the Canadian Real Estate Association showed on Thursday, Reuters reported. Home sales increased 0.7% month-over-month ​in April, though sales were down 4% on an ​annual basis, without seasonal adjustment. The sales-to-new listings ratio fell to 45.6% from 47.1% in March, moving further below the long-term ​average. Read more.

Billionaire Wes Edens’ New Fortress Energy Inc. won permission from a UK court to arrange creditor votes on a sweeping restructuring that will see the vast majority of the firm’s debt load converted into equity, handing ownership of the business to its lenders. A London High Court judge gave the green light on Thursday for the LNG operator’s creditors, who are owed $6.5 billion, to convene meetings to vote on two interlinked restructuring plans. If approved, the proposals would extinguish approximately 90% of the New York-listed group’s total debt.