People and companies go bankrupt every so oftenbut in the U.K., cities are going bankrupt, too. Nottingham, home to 323,700 residents, well-known universities and fictional character Robin Hood, effectively declared itself bankrupt on Wednesday as its council is set to to overspend by 23 million ($29 million) in the 2023-24 financial year. This means a…
Property developer Michael OFlynn has won his legal battle against the personal insolvency agreement of former business partner John ODriscoll. A ruling by the Supreme Court on Thursday could mean that the personal insolvency agreement of Mr OFlynns former business partner will have to go back before a court. Advertisement The court heard that the…
Iress has claimed improved customer sentiment and reduced costs due to its corporate restructuring and cutting staff numbers. The firm announced earlier this year it would reduce its staff numbers by 10 per cent, Managed Fund Administration and platform services, amongst other initiatives to improve business bottom line and pay off debt. In an update…
Property developer Michael OFlynn has won his legal battle against the personal insolvency agreement (PIA) of former business partner John ODriscoll. A ruling by the Supreme Court on Thursday could mean that the personal insolvency agreement of Mr OFlynns former business partner will have to go back before a court. The court heard that the…
The National Company Law Tribunal (NCLT), Kolkata Bench, comprising of Ms. Bidisha Banerjee (Judicial Member) and Shri Balraj Joshi (Technical Member), has rejected an application for dissolution of Corporate Debtor since the Liquidator failed to comply with requirements under Regulation 45 of IBBI (Liquidation Process) Regulations 2016. The Bench has further recommended IBBI to conduct…
Contents Real estate magnate Ren Benkos Signa Group is faltering. Their crisis is unlikely to remain an isolated case, says a real estate expert. They are or are being built in a prime location. And they could one day generate a lot of profits. At least in theory. We are talking about large-scale construction projects…
The real estate giant Signa is in crisis: Europe is shaking The Signa dossier, one of Germanys real estate giants, is now the subject of legal proceedings, raising significant concerns in Frankfurts financial landscape. The German subsidiary, Signa Real Estate Management Germany, has officially filed for bankruptcy at the Berlin Charlottenburg District Court, suggesting that…
The Supreme Court has held that when the National Company Law Tribunal (NCLT) exercises its power under Section 31(2) of the Insolvency and Bankruptcy Code, 2016 to not approve a resolution plan, then a reasoned order must be passed. It was emphasized that recording of cogent reasons while passing an order is the duty of…
Home News Japans Mitsui Chemicals restructuring continues amid Asia oversupply Nurluqman Suratman 30-Nov-2023 SHARE THIS SINGAPORE (ICIS)Japans Mitsui Chemicals is considering downsizing its domestic phenols business, as well as optimize domestic cracker and polyolefin operations, as part of its business restructuring, to transition into a specialty chemicals producer by the end of the decade. The…
Key takeaways You can use a HELOC to pay off debt, including credit card debt. You’ll generally have a long period of time in which to make the HELOC payments, and at a much lower interest rate. A HELOC isn’t your only option, and you should explore other avenues and their associated interest rates before…