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Restructuring · Asia

Fabzen Technologies (online gaming platform operating Ludo Empire, Callbreak Empire, Skill Patti Empire) has had an NCLT insolvency plea admitted against it by Paytm over unpaid digital advertising dues of ₹3.41 Cr. The company's business has been impacted by the Promotion and Regulation of Online Gaming Act 2025, which restricted real money gaming (RMG) operations.

Restructuring · Asia

Godiva Japan is negotiating with its banking syndicate to extend the repayment deadline on a $464 million leveraged buyout loan, indicating financial stress and operational challenges in the Japanese market.

Restructuring · Asia

Pratilipi has undergone strategic portfolio pivot away from digital-first media toward physical books and subscriptions. The Westland Books acquisition (2022) has become the second-largest revenue contributor and is projected to become the single largest by FY27-28. The startup shifted from user acquisition focus to subscriber retention model (90% of revenue from renewals). FY26 revenue expected ~₹188 Cr, with losses narrowed to ₹33-34 Cr in FY25 and company operationally cash-flow positive since mid-2024.

Restructuring · Asia

Chinese regulator required Lalamove to make operational changes to comply with antitrust rules. The company stated it has 'completely accepted' the regulator's requirements and implemented necessary modifications.

Restructuring · Asia

Manulife pulled leverage from an insurance product targeting wealthy Hong Kong clients after regulatory and competitive scrutiny, indicating product portfolio contraction and compliance realignment.

Restructuring · Asia

Hanwha Ocean faces hundreds of millions of dollars in financial burden with six Arc7-class LNG carriers undelivered due to sanctions on Russia's Arctic LNG 2 project. The vessels, originally scheduled for delivery by July 2023, remain stranded at the shipyard with limited options for alternative buyers or fire-sale disposition.