Updated Insolvency Laws

Romania agrees to sell separately core assets of Liberty Galati steel mill

The Romanian government, the principal creditor of the financially distressed Liberty Galati steel mill (part of Liberty Steel Group), has reversed its stance and agreed to sell the company's core assets…

Baltika fashion group files for bankruptcy and will lay off all employees

Baltika, an Estonian clothing company with a history spanning nearly a century, has filed for bankruptcy after years of financial struggles. The decision follows a failed restructuring attempt and the…

​Oil and gas firm Petrofac files for administration, putting thousands of jobs at risk

Petrofac, a major UK-based oil and gas contractor with about 7,300 employees globally, has filed for administration, endangering more than 2,000 jobs in Scotland, particularly around its North Sea operations.…

Administrators to realise assets of major kitchen distributor

Waterline Limited, one of the UK's largest independent kitchen and bathroom distributors, founded in 1947, has entered administration and will be wound down after a search for a buyer failed. The company,…