At a Glance The Insolvency Service today announced the outcome of the Governments consultation on implementing two model laws in the field of insolvency, which have been adopted by the United Nations Commission on International Trade Law (UNCITRAL) namely, the Model Law on Enterprise Group Insolvency (Group Model Law) and the Model Law on Recognition…
Hello and welcome back to Max Q! I hope everyone had a wonderful July 4. In this issue: Astras corporate reorganization News from Pulsar Fusion and more Astra is carving out its spacecraft engine business as a wholly owned subsidiary, a corporate restructuring that will provide greater flexibility in hiring and financing, according to documents viewed by…
Building companies are dropping like flies and two more have collapsed just days apart, leaving homeowners and tradesmen reeling. On June 26, NSW-based luxury builder Millbrook Homes collapsed into liquidation owing more than $4 million to roughly 80 creditors. Then just four days later, on June 30, Victorian residential construction firm Bentley Homes also appointed…
Las Vegas cop set to go on trial for stealing nearly $165,000 in three casino heists – as prosecutors say he was a gambling addict who grew desperate under a crush of debt A Las Vegas police officer, Caleb Rogers, 35, is accused of committing a series of casino heists and stealing almost $165,000 Rogers carried…
Jed Shugerman is a law professor at Boston University. And he was not exactly surprised by the big Supreme Court decision last month that upended the presidents student debt relief plan. In fact, he wanted this outcomesort of. Allow me to explain. While most progressives interested in forgiving student debt spent the past year saying…
New Delhi: The government is unlikely to tweak the Insolvency and Bankruptcy Code (IBC) to lift the moratorium on idle spectrum in insolvency resolution cases involving telecom companies, people familiar with details said. The government last month tweaked the IBC rules to exempt production and revenue-sharing contracts, exploration licences and mining leases of insolvent petroleum…
A Merseyside Police Community Support Officer (PCSO) with gambling debts has been sacked for “financially exploiting” a vulnerable elderly woman. Police watchdog the Independent Office for Police Conduct (IOPC) directed an investigation, carried out by Merseyside Police, after concerns were raised about the behaviour of the officer. Detectives found evidence of frequent visits by the…
July 10, 2023 Practices: Business Restructuring Global law firm Ropes & Gray announced today that Natasha S. Hwangpo, a restructuring partner who has guided notable restructurings has joined the firms 500-lawyer New York office. Natashas addition continues to enhance Ropes & Grays rapidly expanding restructuring and liability management practice. Natasha has an extensive track record…
Mindaugas Damaesvicius was living at the property in Bradford when police raided it following a tip off that the house was being used to grow cannabis.Their intelligence suggested someone was being held against their will at the terraced house. Bradford Crown Court heard that Damaesvicius, who is from Lithuania, opened the door to officers as…
Future Lifestyle Fashions Ltd (FLFL) has said that claims worth Rs 3,477.28 crore from as many as 17 financial creditors have been admitted in the ongoing Corporate Insolvency Resolution Process (CIRP). Catalyst Trusteeship Ltd has emerged as the lead financial creditor with Rs 600.40 crore, having a 17.4 per cent voting share in the Committee…