Maritime privileged credits Judicial recognition Comment The Insolvency Act (22/2003) is based on the principle of universality with regard to assets and liabilities. However, in accordance with the act, certain credits including maritime privileged credits must be separated from a bankruptcy estate, resulting in a breach of this principle. Maritime privileged credits Article 76.3…
FW: To what extent do you believe the UK insolvency regime should be influenced or guided by the principles and processes of US Chapter 11? Bryan: Previous amendments to UK law started from the basis that Chapter 11 was something of a gold standard. However, lobbying by the banks and the insolvency profession largely negated…
FW: To what extent do you believe the UK insolvency regime should be influenced or guided by the principles and processes of US Chapter 11? Bryan: Previous amendments to UK law started from the basis that Chapter 11 was something of a gold standard. However, lobbying by the banks and the insolvency profession largely negated…
The entire shipping industry witnessed the long-awaited turn in business environment with last weeks news that Hanjin Shipping, a South Korean shipping giant which is considered as the 7th largest container carrier in the world would finally announce its move for liquidation after months of recovering attempts that sank into unsalvageable debacle. Although this scenario…
Creditfix, the UKs largest personal insolvency practice has released new figures that show that personal debt is having a negative impact on the mental health of individuals affected by financial problems. In a UK-wide survey of people currently in an Individual Voluntary Arrangement or Protected Trust Deed (IVA/PTD) with Creditfix, 74 per cent of respondents…
South Koreas SKC Co., a chemical and tech material producing unit of SK Group, has been witnessing a rally in its stocks over the last two months after its restructuring carried out last year has allowed the company to concentrate its resources to produce more high value-added products. SKC stocks soared 26 percent from 27,250…
BI Intelligence See Also Digital shines at Bed Bath & Beyond Amazon announces Digital Day promotional event Examining the next generation of payment providers competing in the burgeoning digital commerce market This story was delivered to BI Intelligence “E-Commerce Briefing” subscribers. To learn more and subscribe, please click here. Department store chain Macys will close…
Shares in FTSE 250-listed miner Ferrexpo lifted more than four per cent in afternoon trading after the Ukraine-based group reported record sales and a bolstered balance sheet. Last year, Ferrexpo sold 11.7m tonnes (mt) of iron ore pellets, which are used in steelmaking, up from 11.3mt in 2015, the group said in a trading update…
Atlantic City might be a financial basket case, and the remaining seven casinos there may be struggling to maintain their share of gaming revenues on the east coast, but MGM Resorts ‘(NYSE: MGM) buyout of its joint venture partner Boyd Gaming (NYSE: BYD) for full control of the Borgata may just be one of the…
Student loan debt is one of the prevalent issues when it comes to higher education. Despite their best efforts, a great percentage of students still graduate from college with an average debt of $30,000. However, parents can help their kids graduate debt-free with these simple strategies. Educate Them Financially In a National Financial Capability Study…