New legislation to consolidate Singapore’s personal and corporate insolvency regimes and restructuring laws was introduced yesterday to augment its position as a global financial centre. The Insolvency, Restructuring and Dissolution Bill was tabled for first reading in Parliament, and will consolidate the provisions currently in two separate statutes – the Bankruptcy Act and Companies Act…
Struggling department store chain Debenhams has called in advisers from accountancy firm KPMG to help it investigate a range of options for its future that are said to include a company voluntary arrangement (CVA). f it were to go down the route of a CVA, Debenhams would be declared insolvent but continue to trade to…
SINGAPORE – A new Bill that consolidates Singapore’s personal and corporate insolvency regimes and restructuring laws was introduced on Monday (Sept 10) to augment its position as a global financial centre. The Insolvency, Restructuring and Dissolution Bill, which was submitted by Marine Parade GRC MP and Senior Minister of State for Law and Health Edwin…
Struggling department store chain Debenhams has called in advisers from accountancy firm KPMG to help it investigate a range of options for its future that are said to include a company voluntary arrangement (CVA). f it were to go down the route of a CVA, Debenhams would be declared insolvent but continue to trade to…
Vivid Lifestyle Ltd (Vivid) was incorporated in July 2013 and its registered office was in Hounslow, West London. The company started business in 2014, selling nutritional supplement tablets wholly to UK customers before broadening its operations to international markets. By 2017, the majority of its sales were to customers in Australia and New Zealand. Vivid…
The UK insolvency service is investigating scandal-hit public relations firm Bell Pottinger, including its influential co-founder Lord Tim Bell, for work in South Africa that led to the companys collapse last year. According to letters seen by the Financial Times, two senior partners have been told the UK government agency is examining potential breaches of…
People living in Sefton are the most likely in Merseyside to go bankrupt. New data shows a total of 3,141 people in the region either declared insolvency, took on a debt relief order (DRO) or accepted an individual voluntary arrangement (IVA) to manage their debts in 2017. Of those, 146 were aged under 25.Some 42…
THQ NORDIC Kingdoms of Amalur Reckoning: THQ plots new PS4, Xbox release after buying rights to IP DS Latest news: THQ Nordic has now purchased the rights to Kingdoms of Amalur from the developer 38 Studios. The developer declared bankruptcy after missing a loan payment shortly after the release of the game.…
The National Company Law Tribunal (NCLT) Hyderabad has extended by 90 days the deadline for Lanco Teesta Hydel Powers(LTHPPL) corporate insolvency resolution. The insolvency petition was filed by ICICI Bank. Ratakonda Murali, Judicial Member, said, I am satisfied that the Corporate Insolvency Resolution Process is to be extended by 90 days, beyond 180 days as…
It’s been 10 years since Iceland’s economy crashed, but Asthildur Thorsdottir and her husband Hafthor Olafsson are still struggling with crippling debt and an uphill legal battle to save their family home. After taking out what would end up being a toxic loan, the parents of two now adult sons have lived under the threat…