Background The UKs place as a leading centre for corporate restructuring is under threat. Singapore and the EU are becoming increasingly competitive. Although the UK is ranked 7th in the world by the World Bank for ease of doing business, it is 14th for resolving insolvency, behind Puerto Rico, Slovenia, Belgium, Canada, and Iceland. Another…
BOSTON – Federal authorities said a $40,000 gambling debt led a Boston man to help kidnap a Quincy victim, beat him, and extort him for cash. Kim Nguyen, 25, pleaded guilty Wednesday to federal charges of kidnapping, conspiracy to collect extensions of credit by extortionate means, and operating an illegal gambling business. Nguyen is scheduled…
Shilpi Cable Technologies Limited informed the exchanges that the resolution plan submitted by the resolution applicant was put up for the approval of the committee of creditors (CoC) in the Fifteenth CoC Meeting of Shilpi Cable Technologies Limited, in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules and regulations framed thereunder. On…
Max Brenner has been saved at the last minute by Australian investment office Tozer & Co. The dessert chains future was thrown into question earlier this month when it entered voluntary administration. It was then announced that 20 of the brands 37 Australian stores would be closed. Advertisement However, appointed liquidators BDO Australiaissued a statement…
While a corporate entity may have creditors, debtors and assets in various countries, the Insolvency and Bankruptcy Code, 2016 (IBC), in its current avatar has no comprehensive legal framework on cross-border insolvency (CBI). The Ministry of Corporate Affairs on 20 June 2018 issued a public notice inviting comments on a draft chapter on CBI, which…
Casa de Insolventa Transilvania, one of the biggest insolvency management firms in Romania, will open its first office outside the country in Cyprus, an emerging market where the insolvency practitioner profession only started to be officially recognized 2 years ago. The European insolvency market needs a complex multidisciplinary approach and the integrated product that the…
[embedded content] COLORADO SPRINGS Walking across the stage, receiving a diploma and finishing college for many, its supposed to signify the end of years of education and the beginning of a professional life. Theres just one problem: student loan debt. We have a big problem. Student loan debt is now about $1.5 trillion in the…
The future of chocolate cafe Max Brenner was looking very unclear just 24 hours ago after the company collapsed into liquidation on Wednesday. Its now been reported that brothers David and Craig Tozer from Tozer & Co last night struck a deal to gain the companys licence. “In conjunction with the franchisor, we are excited…
Iconic menswear chain Roger David has gone into voluntary administration with the retailer admitting it has struggled to survive the swing towards online shopping. Today marks a sad day in the long history of Roger David menswear and for Australian retail Roger David has been in business in Australia for 76 years, and currently operates…
LUXURY chocolate chain Max Brenner has been thrown a lifeline at the last minute. The ailing brand which went into voluntary administration earlier this month has been rescued from liquidation by investment office Tozer & Co. The firm which is operated by brothers David and Craig Tozer, struck a deal last night to acquire the…