Hurricane Energy, the oil and gas producer once considered a bright hope for the UK North Sea, has failed to push through a controversial financial restructuring that would have virtually wiped out its shareholders. The UKs High Court ruled on Monday it would not sanction the plan, which would have handed control to Hurricanes bondholders…
A lifeline for struggling businesses in the United Kingdom the most significant insolvency reforms for a generationCorporate Insolvency and Governance Act 2020The Corporate Insolvency and Governance Act 2020 (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least,…
The Mumbai chapter of the National Company Law Tribunal (NCLT) ordered the liquidation of Nakshatra World, a subsidiary of , one of the group companies promoted by fugitive businessman Mehul Choksi. The ruling came on an insolvency petition ICICI Bank filed around two years ago against the company, which was also allegedly involved in a…
Law360, London (June 28, 2021, 1:46 PM BST) — People who use pensions advice companies could be in line for compensation after the Financial Conduct Authority urged them to complain if they believe they have been given poor guidance, a consumer group has said. Which? said that clients of advisors that have collapsed could win…
Few leadership manuals cover the task of taking charge of a global business at the bottom of a cycle during a pandemic that has devastated core markets. In that environment, even basic logistics are challenging in a way that would have been unimaginable in pre-crisis times. For recently appointed Swissport International chief executive Warwick Brady,…
Power-generating windmill turbines are pictured in Suzlon wind farm at Sanodar village, west of the Indian city of Ahmedabad, September 8, 2009. REUTERS/Amit Dave KARACHI/LONDON, June 28 (Reuters) – The soothing calm and palpable enthusiasm in debt markets is deceiving. Developing and emerging economies, which suffered a large-scale withdrawal of international capital at the outbreak…
The Polish National Court Registrar shows that local ISP Smart-Net, active in the Swietokrzyskie region, has been declared bankrupted, reports Telko.in. The decision was taken by the Gdansk court earlier this year. Thank you for visiting Telecompaper Sign up below to get access to the rest of this article and all the telecom news you…
Law360, London (June 28, 2021, 1:46 PM BST) — People who use pensions advice companies could be in line for compensation after the Financial Conduct Authority urged them to complain if they believe they have been given poor guidance, a consumer group has said. Which? said that clients of advisors that have collapsed could win…
A bankrupt former multimillionaire British businessman who was jailed for crashing his 140k Porsche while high on cocaine died of a heroin overdose in a five-star Dubai hotel. Martin Skinner, 42, was jailed in 2019 for crashing his Porsche 911 GT3 into a tree in Worthing, West Sussex, while high on cocaine. He struggled with…
Smoke comes out of an electric plant on the shore of the polluted River Plate in Buenos Aires, Argentina, June 5, 2017. Picture taken on June 5, 2017. REUTERS/Marcos Brindicci/File Photo So far debt relief focused on poorest of 72 nations at risk G20 urged to include middle-income countries in debt relief New bonds would…