Mumbai: Credit rating agency Icra estimates that haircuts for operational are not materially different than the haircuts taken by the financial creditors for cases under the Insolvency and Bankruptcy Code (IBC). This analysis is based on the data for 92 corporate insolvency resolution plans (CIRPs) that have yielded a resolution plan up to 31 March,…
Furious holidaymakers are calling on regulators to investigate after their Melbourne travel agent shuttered its shop earlier this month and stopped returning phone calls. Bentleigh East based One World Travel suddenly newspapered its windows some weeks ago and posted a notice claiming to have appointed administrators. Its website was taken down, listed contact numbers disconnected…
A son of Russian-Israeli businessman Lev Leviev may be declared bankrupt after ignoring requests to pay back some 700,000 shekels ($195,000) in debt, and the court-appointed trustee overseeing his assets is seeking to sell his 10.5 million-shekel home. … Read the full article at: https://www.haaretz.com/israel-news/business/.premium-leviev-s-son-owns-a-3-million-home-but-faces-bankruptcy-for-195-000-debt-1.7395351
(Katherine Frey/The Washington Post) June 19 at 4:11 PM Skyler Ramirez has a loan for his house, his car and now his fiancees engagement ring. The 26-year-old had already picked out the diamond solitaire from Tiffany & Co., when he happened upon an ad for wedding-related loans while he was checking his credit score on…
The Insolvency and Bankruptcy Code (IBC) has provisions for individuals as well, but they are yet to be notified. In a move that is being seen as a precursor to notifying bankruptcy rules for individuals, the government is reportedly considering moving ahead with Fresh Start, a part of IBC that applies to low-income individuals who…
Sydney-based Optus services provider Anderson IT has entered into voluntary liquidation with more than $500,000 owed to creditors. The 10-year-old company, which ran an Optus Business Centre in North Sydney, appointed liquidator Graeme Beattie of Worrells, on 3 June facing more than $1.1 million in total financial liabilities. Subsequent liquidation proceedings revealed the insolvent company…
Jet Airways is continuing to face a negative streak since collapsing in April. After the collapse of a sale, it seems more unlikely than ever before that Jet Airways will fly again. Currently, Jet Airways is staring down the barrel of insolvency proceedings that are incredibly likely to go through. Jet Airways is likely to…
Under the conditions of the order, Christopher James Dawson (36) of Spalding, Lincolnshire, is unable to borrow more than 500 without telling a lender that he is subject to extended restrictions, or act as a company director without the courts permission for 12 years. The court heard that Christopher Dawson was appointed joint director of…
FW: Based on your experience, what steps do supply chain companies need to take following the insolvency of a major customer? How important is early action to manage the risks? Tilley: Insolvencies do not occur without some warning signs. At the first sign of distress, overdue receivables should be collected before further shipment and no…
In September last year, the US District Court for the District of Massachusetts gave a ruling to define bitcoin and other cryptocurrencies as commodities. Now it remains to be seen whether bankruptcy courts will follow this precedent when considering cryptocurrency in valuations and distributions. 17.05.2019|in Forecasts There is continuing legal uncertainty concerning the approach…