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18 Sep 2024

From Glory To Bankruptcy: How This Became A Household Name, Lost Relevance

The iconic food storage containers started 77 years ago, became a household name, but failed to keep up with the requirements post Covid-19 pandemic.

21 Aug 2023

From Earning 300 A Month To Becoming One Of The Richest Who Grounded Quickly

Naresh Goyal founded Jet Airways in 1993. Under his leadership, the airline gained a reputation for its high-quality service and efficient operations. Jet Airways quickly expanded its domestic and international routes, becoming one of India's premier airlines.

16 May 2023

Vice Media Files For Bankruptcy, Lenders To Purchase It For Just $225 Million

Last month, Vice Media laid off more than 100 employees as part of restructuring its global organisations, along with shutting down its Vice News Tonight broadcast.

02 May 2023

Vice Media Preparing To File For Bankruptcy: Reports

The digital-media disrupter, Vice Media is preparing to file for bankruptcy, if it fails to find a buyer, according to the New York Times citing two people with knowledge of its operations.

27 Nov 2022

Cumulative recovery rate under insolvency resolution falls to 30.18 pc in Sept

The overall recovery rate implies a haircut of around 70 per cent for the lenders. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC). The cumulative recovery rate has been on a downtrend.

09 Sep 2022

Ronnie Screwvala backed edtech startup Lido Learning files for bankruptcy

Lido has failed to repay debts and has fallen behind on payments to former employees. Employees received a full and final (F&F) settlement letter from Lido and verbal assurances from HR that their salaries would be paid by the end of June. Lido Learning's bankruptcy filing comes at a time when startups in India are increasingly showing signs of distress.

Celsius Network

14 Jul 2022

Celsius Network that recently laid off 150 employees, files for bankruptcy

Celsius has filed for bankruptcy in the US. Celsius said, it has $167 million cash. Recently, it laid off 150 employees.

Three Arrows Capital

02 Jul 2022

Crypto hedge fund Three Arrows Capital files for bankruptcy

The liquidation comes as popular crypto tokens such as Bitcoin and Ethereum nosedived by nearly 70 per cent from their record highs. The mega fund once managed an estimated $10 billion in assets.

08 Apr 2022

Tennis legend Boris Becker found guilty over bankruptcy, could face jail

London's Southwark Crown Court convicted Becker on four charges under the Insolvency Act, including removal of property, concealing debt and two counts of failing to disclose estate

22 Mar 2022

Tennis legend Boris Becker accused of hiding trophies during bankruptcy trial

The former world No. 1 and six-time Grand Slam champion collected 49 singles titles out of 77 finals during his 16 years as a professional tennis player.

13 Jun 2021

Rajesh Khattar: Shahid Kapoor, Ishaan Khatter dragged in bankruptcy stories

Rajesh Khatter is Ishaan Khatter's father and Shahid Kapoor's step father The actor tested positive for COVID-19 in April

08 Apr 2021

Cafe Coffee Day on the verge of bankruptcy?

Cafe Coffee Day is on the verge of bankruptcy India's popular hangout chain has a debt of Rs 280 crores

30 Sep 2019

Retailer Forever 21 to file for bankruptcy, close 178 US stores

Fast-fashion retailer Forever 21 Inc filed for bankruptcy late on Sunday, joining a growing list of brick-and-mortar companies that have succumbed to the onslaught of online sellers such as Amazon.com Inc and ever-changing fashion trends.

04 Sep 2019

NCLAT allows promoters to regain control of firms at liquidation stage

In the liquidation case pertaining to Sterling Biotech, the NCLAT has set aside a bankruptcy court order to liquidate a debt-ridden company while allowing its promoters to take back control of the firm after making full payment to the lenders.

18 Jun 2019

Finally, Jet Airways lands in NCLT as banks give up revival bid

The once largest private sector airline, started over 25 years ago by airline-ticketing-agent-turned-entrepreneur Naresh Goyal, stopped flying on April 17 after it ran out of cash and the unpaid lessors took away most of its 100-odd operational airplanes.

01 May 2018

IBBI invites comments on regulations under Insolvency & Bankruptcy Code

The IBBI has evolved a transparent and consultative process to make regulations.

Harvey Weinstein

20 Mar 2018

The Harvey Weinstein Company declares bankruptcy

The allegations against Harvey Weinstein, first documented by the New York Times on October 5, tipped the company into a death spiral.

11 Oct 2017

No respite for banks as bad loans hit record $146 billion

A review of Reserve Bank of India (RBI) data obtained through right-to-information requests shows banks' total stressed loans - including non-performing and restructured or rolled over loans - rose 4.5 percent in the six months to end-June.

11 Aug 2017

NCLT orders commencement of insolvency proceedings against Jaypee Infratech

14 Jun 2017

Cabinet approves proposal for bill to deal with bankruptcy in financial sector

The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.

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