Corporate restructuring can be a hard but necessary part of a corporation’s evolution. Once a company gets to a certain size or age, it can be easy for the employees to forget that the point of the business is ultimately to make money. As a company ages and evolves, the need for restructuring is…
Multinational pharmaceutical company Daiichi Sankyo and HDFC Bank are at logger heads with each other to ensure that they are not denied their rightful money by erstwhile Fortis promoters, the Singh brothers. In the latest twist of the tale, Daiichi has moved the National Company Law Tribunal (NCLT) to stay insolvency proceedings of RHC Holdings,…
Craig Levy has said he’s sorry for killing his Airbnb visitor over a $210 debt, but Ramis Jonuzi’s sister has told a Melbourne court she’ll never forgive him. Naime Balla struggles to remember the good times with her brother – her last memory is his body lying on a slab in a coroner’s office. Levy,…
Following a joint investigation by the Insolvency Service and the Metropolitan Police, Sarkis Agop Kouyoumdjian (55), of Kensington High Street, West London, appeared at Southwark Crown Court on Friday 14 September where he also received a nine year directorship disqualification. The court heard that in November 2011, Sarkis Kouyoumdjian voluntarily accepted a disqualification undertaking in…
By James Forsyth The UKs corporate insolvency and restructuring landscape will be changing dramatically, following the Governments announcement on 26 August 2018. The Government proposes to introduce a wide range of reforms including:1. A standalone restructuring moratorium for companies which are in financial distress2. A statutory restructuring process which will potentially bind dissenting creditors; and3.…
An insolvency specialist is warning business owners to be alert to the risks associated with falling property prices, given the family home is often used as security for business finance. Trent Devine, a partner at Jirsch Sutherland, suggested that the huge boom in values particularly on Australias east coast has helped many businesses stay afloat…