NEW DELHI: Banks and other entities have involved personal bankruptcy provisions in over 1,800 cases against personal guarantors a majority of whom would be ousted promoters of companies which faced action under Insolvency and Bankruptcy Code but realisation of claims has been extremely poor, so far.Claims filed against the personal guarantors topped Rs 1. 5…
FORMER Salford Red Devils owner Marwan Koukash has been declared officially bankrupt. Its a name that the rugby league fraternity know like the backs of their hands with the Palestine-born racehorse owner entering the 13-man code in 2013 before exiting in 2018. Among the way, Koukash rebranded Salford City Reds to Salford Red Devils, splashing…
Are you struggling with credit card debt and considering a debt relief service? There are companies out there offering to eliminate or reduce your debt for a fee, but not all of them are legitimate. The Federal Trade Commission (FTC) recently announced settlements with operators of what they describe as deceptive debt relief scams. These…
In a previous article, ‘In case of emergency: Using emergency power provisions to appoint a voluntary administrator’ we discussed the use of emergency powers in a companys constitution to appoint a voluntary administrator to a company, as well as the use of court assistance to cure defects in an appointment. Indeed, there is ample precedent where…
Sono Group N.V. MUNICH, Germany, May 15, 2023 (GLOBE NEWSWIRE) — On May 15, 2023, Sono Group N.V. applied to the insolvency court of Munich, Germany, to permit the opening of a self-administration proceeding (Eigenverwaltung) with respect to Sono Group N.V. pursuant to Section 270 (b) of the German Insolvency Code (Insolvenzordnung). On the same…
Voluntary administrators have been appointed to Jenny Craig Australia and New Zealand, despite the business saying its operations wouldn’t be affected after its United States business filed for bankruptancy. A statement released on Tuesday confirmed FTI Consulting’s Vaughan Strawbridge, Kate Warwick and Joseph Hansell have been appointed. Jenny Craig Australia will continue its operations while administrators…
By Marine Strauss BRUSSELS (Reuters) -The first and only Belgian cryptocurrency lending platform, Bit4You, said it was suspending its activities after CoinLoan, one of its main service providers, was declared insolvent by an Estonian court. CoinLoan, a crypto lending company based in the Baltic state, also no longer has the required registration as a custodian…
A husband’s failure to pay his taxes has cost his partner her home. Photo / 123RF A team of police and debt collectors have booted an Auckland couple from their Mt Albert house so the property can be sold to help pay hundreds of thousands of dollars in unpaid tax. Two police officers and four…