The South Korean Supreme Court announced on January 28 that it will expand support for litigation costs in personal bankruptcy procedures for small business owners, amid a surge in personal rehabilitation cases, Chosun.com reported. Under the recently revised "Regulations on the Operation of the Litigation Assistance System," small business owners with annual sales of up to 300 million Korean won will be eligible for "litigation assistance" starting from the 1st of next month.

Turkey is planning to tighten access to bankruptcy protections after a surge in applications, as authorities seek to curb what they say is misuse of a key debt-restructuring tool, Bloomberg News reported. Draft proposals seen by Bloomberg would overhaul the country’s concordat system, a court-supervised process that allows financially distressed companies to postpone payments and restructure with creditors instead of entering bankruptcy.

The Insolvency and Bankruptcy Code (IBC) has been a game-changer and has transformed the insolvency landscape by fostering transparency, accountability and efficiency in corporate dispute resolution and laying the foundation of a more resilient and robust economy, Financial Services Secretary M Nagaraju said on Wednesday, the Economic Times of India reported.

Azerbaijan is deepening its strategic cooperation with the Organisation for Economic Co-operation and Development (OECD) as part of a broader effort to modernise its economy and align with international standards, Euronews.com reported. The expanded partnership is aimed at supporting structural reforms designed to improve transparency, attract foreign investment, and strengthen the country’s integration into global markets. Under the enhanced cooperation framework, Azerbaijan will focus on capital market development, trade facilitation, and improved connectivity.

A Tokyo Shōkō Research report found that the number of corporate bankruptcies in Japan involving a total liability of ¥10 million or more rose by 2.9% year on year in 2025 to 10,300, Nippon.com reported. This was the second successive year for the total to exceed 10,000. The bankrupt firms included the listed company Alt, an artificial intelligence developer, after accounting irregularities came to light. However, overall liabilities fell by 32% to ¥1.6 trillion, as many of the bankruptcies involved microenterprises with liabilities of less than ¥100 million.

Turkey is planning to tighten access to bankruptcy protections after a surge in applications, as authorities seek to curb what they say is misuse of a key debt-restructuring tool, Bloomberg News reported. Draft proposals seen by Bloomberg would overhaul the country’s concordat system, a court-supervised process that allows financially distressed companies to postpone payments and restructure with creditors instead of entering bankruptcy.

India and the European Union struck a long‑delayed deal on Tuesday that will slash tariffs on most goods, aiming to boost two‑way trade and reduce reliance on the United States amid growing global trade tensions, Reuters reported. The deal is expected to double EU exports to India by 2032 by eliminating or reducing tariffs in 96.6% of traded goods by value, and will lead to savings of 4 billion euros ($4.75 billion) in duties for European companies, the EU said.