Topic
insolvency
Finance Creditors Recover Just 1% of Claims on Personal Guarantees, IBBI Data Shows
Creditors have recovered just Rs 235 crore — around 1% of admitted claims — from personal guarantees invoked under the IBC, according to IBBI data. Resolution professionals were appointed in only 41% of the 5,186 applications filed since December 2019, and just 64 cases have approved repayment plans.
Finance IBBI floats paper to check misuse of insolvency law, flags nine red flags
The Insolvency & Bankruptcy Board of India has floated a discussion paper to prevent misuse of the corporate insolvency resolution process. It lists nine red flags—including negligible operations, related-party lending, and common resolution applicants—and proposes that suspected fraud cases be filed before the NCLT.
Finance Raleigh Parent Accell Starts Insolvency Proceedings, CEO Says All Options Exhausted
Accell, the Netherlands-based owner of Raleigh, has initiated insolvency proceedings after saying it exhausted all options and could not meet its financial obligations. The company reported £30m losses and 2024 redundancies. CEO Jonas Nilsson called the situation deeply sad and frustrating.
Logistics Celadon Bankruptcy Chaos: Stranded Drivers, $1M Monthly Legal Drain, and Lessons for Today's Freight Market
Former Celadon CEO Paul Svindland recounts the December 2019 bankruptcy, where early news publication stranded drivers with shut-off fuel cards. He now warns that a wave of newbuild vessels will make current container spot rates unsustainable. Svindland’s new venture, Mallory Alexander, targets middle-market shippers and is deploying AI for documentation.