A Party City in Clifton, NJ, on Jan 16, 2023. CNBC | Mike Calia Retailer Party City has filed for Chapter 11 bankruptcy protection, toppled by a heavy debt load as inflation hits consumers’ wallets and dents sales. The company said Wednesday it struck an agreement to reduce its debt and has already received support…
The government on Wednesday proposed a slew of changes to the insolvency law, including fast-tracking the process and expanding the scope of pre-packaged framework. The government on Wednesday proposed a slew of changes to the insolvency law, including fast-tracking the process and expanding the scope of pre-packaged framework. The Insolvency and Bankruptcy Code, which came…
Trouble erupts when Windy calls Antrim a pimp, before he gets violent when called a son of a bitch in return. He wrestles his much smaller opponent to the ground, pinning him down with his knees, and gleefully slaps the boy in the face. But the Kid has been humiliated for the last time. He…
COLOMBO, Jan 18 (Reuters) – India has told the International Monetary Fund that it strongly supports Sri Lanka’s debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters. “We hereby confirm our strong support for Sri Lanka’s prospective (loan) program and commit…
The government on Wednesday proposed a slew of changes to the insolvency law, including fast-tracking the process and expanding the scope of pre-packaged framework. The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets. The Code has already undergone various amendments. “To strengthen…
The Committee of Creditors of the Anil Ambani-owned Reliance Capital Ltd. has informed the National Company Law Tribunal that it will reschedule the ‘extended auction’ to Jan. 23. The auction was originally scheduled for Jan. 19.The CoC agreed to do this in light of Torrent Investments Ltd.’s pending challenge before the insolvency court. In a…
KATIE Price flashed a big smile as she returned from her 14th trip over the last 12 months. The former glamour model, 44, looked in good spirits as she landed at Manchester airport in the early hours of Wednesday morning. 4 Credit: BackGrid 4 Credit: BackGrid The bankrupt star looked chic in a classic black…
“It’s not a simple business, straightforward.” That’s what the trustee in the bankruptcy of a large greenhouse horticulture company said late last year. An initial bankruptcy report shows why. A whole range of companies are involved in the bankruptcy. The trustee, who requested the help of four additional trustees, also ended up in Dubai in…
The new year is bringing challenges for many businesses. The BBC announced last week that the restaurant chain Byron Burger has said it will close nine restaurants and cut 218 jobs in another restructure of its business.According to the BBCs analysis of corporate insolvency notices, in December 2022 it found that 320 businesses in the…
Member Article Corporate insolvencies fell 3.25% in December 2022 to a total of 1,964 compared to Novembers total of 2,029. They were 31.9% higher than in December 2021 (1,489) and 75.5% higher than December 2019 (1,119). Personal insolvencies decreased by 20.4% to 8,339 in December 2022 compared to 10,473 in November. They were 1.3% lower…