DEBT WARNING The rise was driven by a surge in the number of people taking out individual voluntary arrangements (IVA) for their debts THE number of people going bust last year jumped 13 per cent amid fears that the tide has turned for household finances. A total of 90,930 personal insolvencies were recorded across England and Wales,…
Tsvetan Vassilev. Photo: Medija centar A Serbian court on Wednesday declared the bankruptcy of the Serbian Glass Factory company, linked to the exiled Bulgarian tycoon Tsvetan Vassilev, who is wanted in Bulgaria for the collapse of his Corporate Commercial Bank, CCB, in 2014. The Commercial Court in Kragujevac, Serbia, told Beta news agency that the…
The bankruptcy of US retail giant Toys R Us will have flow-on impacts to one of Australias biggest toy brands, with one insolvency expert calling on small businesses to do everything they can to protect themselves against the collapse of distributors. The US arm of Toys R Us filed for chapter 11 bankruptcy protection on…
The bankruptcy of US retail giant Toys R Us will have flow-on impacts to one of Australias biggest toy brands, with one insolvency expert calling on small businesses to do everything they can to protect themselves against the collapse of distributors. The US arm of Toys R Us filed for chapter 11 bankruptcy protection on…
The Supreme Courts intervention in the bankruptcy proceedings against Jaypee Infratech (JIL) is a legal mess. To begin with, the case brings out a deficiency in the Insolvency and Bankruptcy Code, in that it does not provide for resolution of real estate development firms, and so, does not recognise the legitimate claims of homebuyers and…
Datuk Lajim Ukin (front right) was declared bankrupt for a week. Picture by Julia ChanKOTA KINABALU, Sept 21 After a week of being declared bankrupt, Sabah opposition leader Datuk Lajim Ukin has cleared his outstanding debt of RM185,000 and the status has been lifted as of today. Lajim was also forced to vacate the position…
Insolvency and Bankruptcy Code, 2016 (the, Code) is a crucial legislation passed by the Parliament which has the potential to be a game changer in the insolvency and bankruptcy regime in India. Since the Code is in its nascent stage, it is of paramount importance that interpretational issues are settled at the earliest in order…
09:30 21/09/2017 MOSCOW, September 21 (RAPSI) The Moscow Commercial Court has declared Tropicano Business Club controlled by businessman Telman Ismailov bankrupt, according to court records. On September 1, the court dismissed petitions filed by two Cypriot companies to include 59.3 billion rubles (about $1 billion) owed by Tropicano Business Club in the creditors’ list. Aquila…
Toys R Us Canada wants to continue to pay its foreign suppliers, while leaving its North American suppliers to collect whatever money is left at the end of the insolvency process, according to documents filed Tuesday in Ontario Superior Court. The move would ensure the Canadian subsidiary of the global toy retailer which applied for…
“Tegel is a prime example of how Berlin’s future is being gambled away,” said Sebastian Czaja, a local politician who forced the non-binding referendum with a petition drive that collected 250,000 signatures. “Let’s keep the one thing that’s working in this city.” Czaja’s Free Democrat party has made the preservation of Tegel a key issue…