The Kerala High Court has clarified that a simple submission of an application under the Insolvency and Bankruptcy Code (IBC) for personal insolvency does not initiate a moratorium immediately. With this ruling, the High Court has plugged a loophole that defaulters use to defend personal assets. In its ruling, the Kerala High Court has cleared…
On Wednesday, Parliament approved Belgiums request for support from the European Globalisation Adjustment Fund for Displaced Workers (EGF). MEPs acknowledged that the COVID-19 pandemic and the Russian war of aggression against Ukraine have reduced economic competitiveness and have a negative impact on economic growth in Belgium. In recent years, Makro Cash & Carry Belgium NV…
Nov 20, 2023 5.00pm Citis Australian workforce are bracing for layoffs as the US bank rolls out a global restructuring that will involve thousands of job losses. Local positions under threat included back-office roles, such as compliance and risk, while Citis broker-dealer arm could have some staff reductions, people familiar with the reorganisation told The…
Companies Citi Bank N.a. Follow Citigroup Inc Follow HONG KONG/SINGAPORE, Nov 22 (Reuters) – Citigroup (C.N) has made new appointments in Asia Pacific following a sweeping global reorganization the U.S. bank announced on Monday, according to a person with direct knowledge of the matter. Citi’s Capital Markets and Advisory Head for Asia, Jan Metzger, will…
Interest rates for debt consolidation loans are high to end 2023, and theyll likely stay high for the near future. With increased costs, comparing loan options is essential to qualify for the best possible rates on a debt consolidation loan. Debt Consolidation Loan Costs A wide range of economic factors have pushed interest rates higher…
Introduction The Supreme Court of Canada (SCC) has granted leave to appeal the decisions of Ernst & Young Inc. v. Aquino (Aquino) and Golden Oaks Enterprises Inc. v. Scott (Golden Oaks), which both address the corporate attribution doctrine in the insolvency context. Generally, the corporate attribution doctrine imputes the actions, intent and/or knowledge of a…
Businesses are being “battered from all sides”, said Garry Lee, the chair of R3’s Southern and Thames Valley region, following the publication of last month’s personal and corporate insolvency statistics for England and Wales. Figures from the Insolvency Service showed that corporate insolvencies increased by 17.6% in October this year to 2,315 compared to September’s…