India becomes first to offer letter of support to IMF for funding & debt restructuring of Sri Lanka India: As a symbol of its ongoing support for the economic recovery of the island nation, India became the first nation to deliver its letter of support for funding and debt restructuring of Sri Lanka to the…
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High Court reporters The High Court has dismissed an appeal against the inclusion of 77,000 legal fees awarded against a couple whose Rottweiler dogs attacked and severely injured a woman, as part of a proposed Personal Insolvency Arrangement (PIA). The appeal on the issue of the inclusion of costs in a PIA came before Mr…
Atlassian cofounder and billionaire investor Mike Cannon-Brookes has lent Sun Cable, the startup behind a $30 billion project to send solar power to Singapore, $65 million to keep operating as the companys voluntary administrators look to sell the business. Cannon-Brookes is making the no interest loan through his family venture capital firm, Grok Ventures after…
Jan 23 (Reuters) – India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday. The island nation of 22 million people has grappled with challenges during the past year ranging from a shortage of foreign currency…
Reuters. By Michael Elkins Newell Brands(NASDAQ:) is up almost 6% in mid-day trading after the consumer goods maker announced a restructuring and savings initiative labeled Project Phoenix. The initiative aims to strengthen the company by leveraging its scale to further reduce complexity, streamlining its operating model and driving operational efficiencies. The plan is expected to…
The High Court has approved Personal Insolvency Arrangements allowing a separated couple to write off over 2.8m of debts owed. Mr Justice Alexander Owens on Monday approved PIAs for Bernadette Canning of Monknewtown, Slane, Co Meath and Graham Canning of Ledwidge Hall, Slane Co Meath. The court heard that couple got into financial difficulties after…
Legal fees a couple owe following a court case over injuries caused by their Rottweilers willbe included among their debts in a personal insolvency arrangement (PIA). Mr Justice Alexander Owens on Monday dismissed an appeal from the injured woman against inclusion of the 77,000 legal fees in the PIA. It relates to a debt arising…
The Perth accountant who pocketed millions in fees over the drawn-out liquidation of Alan Bonds billion-dollar Bell Group has found his company on the other end of a wind-up order at the hands of the tax boss. The Commissioner of State Revenue has launched Federal Court action to have company Anthemis wound up, an entity…
The number of corporate insolvencies in England and Wales last month was 76% higher than before the pandemic. Figures released by the Insolvency Service reveal there were 1,964 company insolvencies in December 32% higher than the previous year and 76% higher than the 1,119 registered in December 2019. Christina Fitzgerald, president of insolvency and restructuring…