Introduction Facts Decision Comment Introduction In BTI 2014 LLC v Sequana SA [2016] EWHC 1686 the High Court was recently asked to consider whether: payment of dividends contravened Part 23 of the Companies Act 2006; the decision to pay the dividends was a breach by the directors of their fiduciary duties towards the company;…
Galway Bay fm newsroom Theres been a 20 percent drop in the number of Galway firms being declared insolvent. Figures from business services firm Vision-Net show that so far this year, 40 companies across the county have published insolvency notices. Between January and October of this year, 40 firms across Galway published insolvency notices. Thats…
Updated Nov. 3, 2016 10:20 a.m. ET BERLIN Volkswagen AGs efforts to cut costs amid mounting burdens of its emissions-cheating scandal face a new roadblock, as core shareholders and labor representatives meet for an extraordinary shareholders meeting on Friday to try to break an impasse over restructuring. Chief Executive Matthias Müller, who took command a year…
By Marc Jackson for MailOnline Published: 01:10 +11:00, 4 November 2016 | Updated: 01:10 +11:00, 4 November 2016 e-mail View comments Kerry Katona has been dealt another financial blow after her nutrition brand reportedly folded. The star launched her own line of shakes and snacks to aid weightloss on Boxing Day last year. However, the…
SMALL business traders in Rockhampton are faring well financially against their Central Queensland counterparts, while non-business related insolvency rates are on the rise. This is reflected in the Australian Financial Security Authority’s latest regional personal insolvency and business-related insolvency rates for the September quarter. Released yesterday, a snapshot of Central Queensland revealed Rockhampton experienced the…
(Shanghai) Creditors of Guangxi Nonferrous Metals Group have vetoed an insolvency plan in a case that shows the obstacles that state-owned enterprises (SOEs) face as they try to complete the bankruptcy process. In the plan, the firm’s bankruptcy administrators proposed auctioning, presumably at a discount, not only the equity stakes the parent has in its…
Recently, we talked about Singapore ship arrest laws and procedures as well as their practical effect in light of Hanjin Shipping Co. Ltds recent financial troubles. That article also mentioned that Hanjin had filed for bankruptcy protection, which has given some relief from their monetary woes. But how does bankruptcy protection really benefit Hanjin? Is…
London, Oct 31, 2016 (AFP) – A former Manchester United midfielder is contemplating a new career after being ordained as a deacon in the Catholic Church. Philip Mulryne won 27 caps for Northern Ireland in a career that included spells with Norwich City and Leyton Orient. He was ordained by the Archbishop of Dublin, Diarmuid…
The UAE government has been formally considering amendments to the insolvency regime since 2009, and a previous draft insolvency law was published in 2011 (the 2011 Draft); the New Law, however, is different in certain respects. span style=”font-family: Calibri; font-size: small;”>Key changes under the New Law Repeal of current regime: Chapter V of the Commercial…
FRASER Coast residents are struggling to pay off their debt, with a total of 48 people and businesses going bankrupt in the last financial quarter. In Maryborough, 15 people declared bankruptcy, compared to 25 in Hervey Bay, between July and September. The number was about the same as the March to June quarter, which saw…