ATS Nobility Estates Exits Insolvency

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.
India
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China’s $3 Trillion of Hidden Bad Debt Prolongs Economic Pain

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.
China
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From Airlines to Banks: Australian, New Zealand Firms Feel Heat of Gulf Crisis

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.
Australia
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NCLT Allows Withdrawal of Insolvency Proceedings Against Noida Realtor

National Company Law Tribunal (NCLT) has allowed the withdrawal of corporate insolvency resolution process (CIRP) against Le Grandiose developer, Nobility Estates Private Limited, after lenders and the company’s ex-management reached a settlement agreement, the Times of India reported. It also restored the management of the real estate company to its board of directors. Tribunal’s principal bench, comprising acting president Bachu Venkat Balram Das and member (technical) Ravindra Chaturvedi, in an order on May 5, approved the withdrawal application.
India
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Australia Dumps Tax Breaks for Landlords to Help Young Own a Home

Australia's centre-left Labor government has rolled out the biggest changes to investment taxes ​this century to help young people break into the housing market, along with cost-of-living relief to cushion the fallout from the Iran war, Reuters reported. Treasurer Jim Chalmers on ‌Tuesday called his fifth budget the most "important and ambitious" in decades, as a landslide election victory last year allowed the government to address the politically thorny problem of intergenerational inequity.
Australia
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Report: North Korean Crypto Hackers Stole $2.1B in 2025, 60% of All Losses

North Korean hackers have stolen $6.75 billion in cryptocurrency across 263 incidents since 2016, establishing state-sponsored theft as the dominant threat to decentralized finance, according to a new report by blockchain security firm CertiK, Decrypt.com reported. The Web3 security firm's Skynet analysis documents how DPRK-linked groups have transformed from opportunistic attackers into the primary force in crypto crime, responsible for some 60% of all theft losses in 2025 alone, amounting to $2.06 billion.
North Korea
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