Slough is facing a deficit of around 100million by next year (Picture: Getty Images/REX/Google Maps) After years of financial mismanagement and accounting errors, Slough Borough Council has effectively declared itself bankrupt and has begged the Government for help. Yesterday the local authority announced it had issued a section 114 notice, banning all non-urgent spending in…
By Mariya Paliwala – On July 3, 2021 1:50 pm The Kerala High Court ruled that the High Courts should refrain from interfering with Corporate Insolvency Resolution Process as Insolvency and Bankruptcy Code, 2016 (IBC) is self contained Code. The petitioners, M/s Orlem Pharma Pvt. Ltd. and St. Antonys Medical Distributors challenge the Corporate Insolvency…
By Tabita Diela, Bernadette Christina 3 Min Read JAKARTA, July 1 (Reuters) – Indonesian business groups on Thursday urged authorities to ensure there is enough financial support for companies, warning that otherwise new restrictions to tackle a surge in COVID-19 cases could result in layoffs and bankruptcies. The emergency curbs, which come into effect between…
Amidst a global pandemic, there were plenty of interesting bankruptcy and restructuring events and changes that occurred in 2020. We saw new Bankruptcy Code amendments go into effect (through the Small Business Reorganization Act of 2019), a government bailout in excess of $2.3 trillion (through the CARES Act), many life-long retailers on the brink of…