The positive outlook on the likely slower pace of companies going bust came from a survey of six leading insolvency and restructuring practitioners by Chanticleers colleague, John Kehoe. The thinking among experts from Ashurst, Duff & Phelps, Clayton Utz, Baker McKenzie and Norton Rose Fulbright is that banks will continue to show leniency towards businesses…
Badminton World Federation (BWF) has handed a life ban to a representative of a sports brand for his role in match fixing, while separately eight Indonesian players have received sanctions for breaching rules related to match fixing, match manipulation and betting. The BWF said the two integrity cases concluded in late 2020, with decisions reached…
Accredited Debt Relief uses a process called debt settlement to help you get out of debt. With debt settlement, you’ll stop making payments on your credit cards and other bills, and instead begin setting aside extra money in a dedicated savings account. Once you have 40% to 50% of the amount of each debt saved…
Business Standard The future phases would cover a default above Rs 1 crore, followed by Rs 1 to Rs 1 lakh TopicsMCA|Insolvency and Bankruptcy Code|Coronavirus Vaccine The Ministry of Corporate Affairs has proposed a framework for prepackaged insolvency resolution process that may be implemented in phases to give priority to Covid-related defaults for which the…
Business Standard Compamy says net debt down 15% from a peak of Rs 52,290 cr as on April 30, 2020, to Rs 44,308 cr on Dec 31, 2020 TopicsSAIL|Steel Authority of India|Debt Public sector major Steel Authority of India Ltd (SAIL) has managed to reduce its net debt from peak levels over the past eight…
TheBritish Columbia Lottery Corporation recently conducted the first of two virtual pre-conference sessions, namedBanking on a Different Perspective: The Financial Industrys Role in Safer Gambling.Below is an extract from the webinar sent to Gambling Insider: Financial-services firms are in a unique position to not only support the financial wellbeing of their customers but also their…
Member Article North East England has retained its unwanted place at the top of the table for personal insolvency in England and Wales for the twelfth successive year. According to the latest annual figures released by the Insolvency Service, there were 34.6 individual insolvencies per 10,000 people in the region in 2019, compared to a…
Australian Fashion Labels has entered voluntary administration and is holding urgent talks with a potential buyer, according to administrator Duff & Phelps. The fashion house, co-founded by Melanie and Dean Flintoff, operates labels BKNR, Finders Keepers, C/MEO Collective, Keepsake and The Fifth Label. According to Marcus Ayres, partner at Duff & Phelps, the business employees…
Netherlands star Royston Drenthe, who featured for Real Madrid in his prime has finally found a club to play for just weeks after declaring that he is bankrupt. Still just 33-years-old, Drenthe was declared bankrupt by a Dutch court in December. The Dutchman looked to have a bright future after his stints at Real Madrid…
A steep increase in corporate failures is expected in the coming weeks as debt holidays introduced during COVID-19 come to an end. In December there were 46 company liquidations and five administrations across Queensland with high profile closures including national lingerie retailer Big Girls Don’t Cry (Anymore), Noosa eatery Madmegs & Co and a key…