Australia’s corporate insolvency laws are among the most favourable to banks in the world, but this mantle could be threatened by looming changes to wrestle power away from lenders. The federal government is expected to soon publish legislation it hopes will “reduce the stigma associated with business failure”, and one aspect of this will be an overhaul…
Taking on the chief executive role at Wesfarmers is akin to becoming the president of the People’s Republic of China. You can safely count on a 10-year tenure unless the peasants revolt. So maybe we shouldn’t pay too much attention to the news that Richard Branson‘s former lieutenant the flashy David Baxby is joining Wesfarmers…
10:54 29/05/2017 MOSCOW, May 29 (RAPSI) The Moscow Commercial Court had declared Pallada Asset Management, oldest management company in Russia, bankrupt, RAPSI learnt in the court on Monday. The company, founded in 1996, is an acting manager of retirement savings for a non-state pension fund (NPF) Mechel-Fund. The court has found that there are indications…
Padlocked and falling apart: Rio Olympic legacy in tatters Waves batter the incline near the site of a collapsed section of a bicycle path in Rio de Janeiro, Brazil, on Thursday, April 21, 2016. Two people have died after a 50-meter section of a recently completed cycle path built as part of Rio de Janeiro’s…
Padlocked and falling apart: Rio Olympic legacy in tatters Waves batter the incline near the site of a collapsed section of a bicycle path in Rio de Janeiro, Brazil, on Thursday, April 21, 2016. Two people have died after a 50-meter section of a recently completed cycle path built as part of Rio de Janeiro’s…
The Rio Olympics were supposed to signal Brazil’s arrival on the world stage. Nine months later, as a culture of corruption is exposed at the highest levels, Brazilians are asking who benefited most from the Games. Rio de Janeiro: On April 21 last year, a torch was lit at the site of the original Olympic Games…
Thursday, May 25, 2017 As 26 June 2017 approaches the date of entry into effect of the Recast EU Insolvency Regulation (2015/8484/EU) we look in detail at the new provisions for co-ordinating the insolvency proceedings of members of a pan-European group of companies and consider whether the new proposals for co-operation will be compulsory, the practicalities of…
The number of people availing of debt solutions through the Insolvency Service of Ireland has increased. A total of 1,302 applications were received by the ISI from people who between them owed 610 million in the first quarter of 2017. The equivalent figure in the first quarter of 2016 was 570 people, an increase of…
15:58 25/05/2017 MOSCOW, May 25 (RAPSI) The Moscow Commercial Court on Thursday declared ex-president of Vneshprombank Larisa Markus sentenced to 9 years in prison for embezzling 114 billion rubles (about $2 billion) bankrupt upon the application of VTB24 bank, RAPSI learnt in the court. In April, the court granted another petition lodged by VTB24 seeking…
Introduction Courts’ jurisdiction Potential for reform Introduction Jersey has a familiar range of legal processes and remedies for the restructuring and insolvency of corporations. The principal provisions are contained in the Companies (Jersey) Law 1991 and the Bankruptcy (Désastre) (Jersey) Law 1990. These have been consistently applied and developed by the Royal Court. While certain…