The tennis champion Boris Becker has denied a string of criminal charges over his bankruptcy as he was told he could face seven years in jail. The German former tennis star, 52, who was declared bankrupt in June 2017, is accused of not complying with obligations to disclose information. Becker, who was smartly dressed in…
Liberal Party of Australia Small business has been hit hard by COVID-19. Health restrictions forced many small businesses to close their doors, while others have managed to stay open, albeit with significantly less foot traffic through their store. Meanwhile, bills rack up, be it for energy, insurance, rent or interest on a loan all of…
Debt and rent moratoria or deferrals, potentially subsidized by taxpayers, are among a range of policies that could help small businesses avoid unnecessary failures because of the COVID-19 recession, suggests a paper to be discussed at the Brookings Papers on Economic Activity (BPEA) conference on September 24. Restructuring subsidies and payment deferrals are options that…
Michael Brown Published 10:53 p.m. ET Sept. 23, 2020 In the United States, the outstanding student loan debt balance has swelled to $1.67 trillion, and the situation is only getting worse in most parts of the country. But, Michigan is bucking that trend according to the latest data. LendEDU recently published our fifth annual Student…
New Delhi, Sep 23 (PTI) The Delhi High Court has asked the Centre and the IBBI to respond to a plea by former chairman of Bhushan Power and Steel Ltd (BPSL) Sanjay Singal, challenging the provisions on personal insolvency proceedings against guarantors of corporate debtors.A bench of Chief Justice D N Patel and Justice Prateek…
Hyderabad: The HC on Wednesday sought to know from a private trader, whose company is under liquidation, whether he can still represent his firm before the court.A bench of Chief Justice Raghvendra Singh Chauhan and Justice B Vijaysen Reddy posed this question to advocates representing Rajesh Agarwal, managing director of BS Company, who challenged the…
11:32 24/09/2020 MOSCOW, September 24 (RAPSI) The Moscow Commercial Court has extended bankruptcy management against Vneshprombank for six months, the court records read. According to a petition of the Deposit Insurance Agency (DIA), the banks bankruptcy receiver, the work on legal recovery of loan indebtedness from legal entities and individuals is still ongoing and disposal…
“A lot of SMEs will be ineligible to use the new scheme and that might mean that the only option is to go into liquidation.” Clayton Utz restructuring and insolvency partner Jennifer Ball said the initial requirement to pay employee entitlements could be an “obstacle” for small firms. The current temporary director insolvency measures which…
The report comes just days after Victorian Supreme Court Justice Ross Robson offered a scathing assessment of Mr Mawhinney as he ordered the provisional liquidation of companies backing another Mayfair 101 fund, the $81 million IPO Wealth. The findings will make for grim reading for secured MCore noteholders anxious about the status of their funds,…
Treasurer Josh Frydenberg. Source: AAP/Daniel Pockett. Small business owners facing bankruptcy will stay in control of their companies while restructuring debts under a Morrison government plan to overhaul Australias insolvency system. On Thursday, Treasurer Josh Frydenberg unveiled a suite of insolvency reforms to protect small businesses from the fallout of the COVID-19 pandemic, saying Australia…