The High Court Shane Phelan Today at 18:40 A Supreme Court ruling has opened the door for more farmers to use the States personal insolvency regime to get deals on their debts. In a significant decision, the court clarified that the legal test for whether someone could be considered insolvent was an examination of their…
The World Bank is extending a new lifeline to small islands and other small states struck by earthquakes and tropical storms, allowing governments to focus on disaster recovery instead of debt repayment when catastrophes occur. These small islands and states are particularly vulnerable to natural disasters. When natural disasters hit, their leaders are concerned about…
For the man who would be retail king, these are dark days indeed. An empire that stretches across Europe and the U.S., with shares in some of the worlds most iconic buildings and retail groups, has declared itself insolvent. In doing so, it has left a number of Teutonic lenders heavily exposed to colorful Austrian…
Go First CEO Kaushik Khona announced his exit from the airline in an e-mail to employees six months after it voluntarily entered into insolvency resolution due to a fund crunch it blamed on Pratt and Whitney engine failures. Things have not worked in our favour inspite of huge efforts. Even salaries have not been paid…
VF Corp (VFC) announced on Thursday that it had dismissed about 500 employees as part of business restructuring effort and global operations improvement. The job reductions occurred across all of the companys brands, corporate functions and geographies. In October, the Vans owner had come under pressure from investor firms Legion Partners Asset Management and Engaged…
Street Talk Nov 16, 2023 11.24am Heres one that slipped under the radar. Distressed debt guru Dominic Emmett is set to launch his own eponymously named firm. Dominic Emmett, top corporate restructuring partner and founder of Emmett Law. The notoriously low-profile lawyer, considered to be the godfather of complex distressed debt and special situations in…
Welcome back to the Big Law Business column. Im Roy Strom, and today we look at how Sidley Austin plans to try to crack to the upper echelon of Big Law restructuring practices. Sign up to receive this column in your Inbox on Thursday mornings. Building a top company-side bankruptcy practice is a great white…
Peter Connor, the latest recruit at insolvency and corporate recovery practice Inquesta Insolvency and corporate recovery practice Inquesta has strengthened its team with the appointment of Peter Connor, who has over 25 years experience in the field. Peter has joined Inquesta as a business development manager. He has previously worked in similar roles at firms…
MUMBAI : The Mumbai bench of the National Company Law Tribunal (NCLT) has directed the liquidator of insolvent firm Bharati Defence and Infrastructure Ltd to admit Union Bank of Indias claim amounting to Rs208 crore as an operational debt. The liquidator had rejected the state-owned banks claim in February 2019 saying it did not qualify…
The High Court must reconsider whether it is fair to approve a personal insolvency arrangement (PIA) permitting a man to keep his farming assets, home and rental property, the Supreme Court has ruled. A debt fund appealed against the High Courts approval of a PIA for Co Wexford farmer Fergus OConnor (48) that restructured his…