That’s one of the predictions in this year’s edition of From Red to Black, Clayton Utz’s annual review of the dynamics of Australia’s Restructuring and Insolvency (R&I) market. After a slow start to the year, a combination of rampant inflation, constrained liquidity, under-pressure management and critically squeezed margins is contributing to an increase in R&I…
High Court reporters The High Court has approved Personal Insolvency Arrangements that will allow a retired couple aged in their mid 70s to rent back their Dublin home after it is sold to a housing agency. Under the terms of the PIA Thomas and Catherine Carroll will remain in their home under a social tenancy…
Collapsed homebuilder Porter Daviss directors are being investigated for trading while insolvent as hundreds of customers risk losing their deposits. About 500 people attended a webinar with appointed liquidators Grant Thorntons Said Jahani, Matt Byrnes and Cameron Crichton earlier this week to hear they could lose their deposits if work on their projects had not…
Hyderabad: The National Company Law Tribunal (NCLT) at Hyderabad took note of the default by Sukesh Gupta and his company, MBS Impex Pvt Ltd, in repaying loan taken from ICICI. The bank entrusted task of recovery to Rare Asset Reconstruction Ltd. Its counsel Dishit Bhattacharji told TOI that the tribunal admitted its application against Gupta…
Liquidators appointed to take over collapsed Victorian home builder Porter Davis have warned some customers who had paid a deposit, but not had works begin, have been left uninsured. Key points: The liquidator says there are several building companies interested in buying the collapsed Victorian construction company Many Porter Davis customers were left uninsured while their…
PORT CHARLOTTE, Fla. Barbara Pellegrino has a story tens of thousands of Southwest Florida residents can relate to. It involves hurricane damage, a fight with her insurance company and ultimately an insolvency. You gotta take a deep breath, said Pellegrino detailing her six-month journey to Fox 4 Investigates. I gotta get my house fixed. Her…
Companies Law Firms Johnson & Johnson Follow April 4 (Reuters) – Johnson & Johnson (JNJ.N) has agreed to pay $8.9 billion to settle tens of thousands of lawsuits alleging that talc in its iconic Baby Powder and other products caused cancer, the company said. The amount dwarfs J&Js original offer of $2 billion. The agreement…
According to reports from the German press, Triwo AG from Trier has won the contract to take over Frankfurt-Hahn Airport (HHN). Peter Adrian, the CEO of Triwo AG, confirmed the information to the Trierischer Volksfreund. The airport was declared bankrupt in October 2021, four years after the German state transferred its 82.5% stake to the…
Lightyear, a Netherlands-based startup, has resumed its business as a new firm with a substantially smaller crew months after officially declaring bankruptcy but claiming to continue development of its mass-market solar EV, the company announced. According to a press release issued today by the startup, it has completed a restructuring plan that has pleased all…
Sievi Capital PlcPress Release 4 April 2023 at 11:00 am EESTNew owner to continue the rescue lift business of Sievi Capital’s target company Nordic Rescue GroupNordic Rescue Group’s (NRG) subsidiary Vema Lift Oy was declared bankrupt in December 2022, and its business has been sold to a new owner, which will continue the rescue lift…