R3 proposals for a new moratorium for insolvent companies has clear benefits for distressed companies and their directors but its creditor appeal will depend on the details Under R3’s proposals, published in April, a company could file for three weeks of protection from its creditors – which could be extended to six weeks…
May 9 Abelco AB : * Board of subsidiary Abelco Nordic AB has in the district court in Uddevalla requested that the company be declared bankrupt Source text: bit.ly/1Okaz87 Further company coverage: (Gdynia Newsroom) Read the full article at: http://www.reuters.com/article/idUSL5N18644P
Murderer sued by victim’s son is declared bankrupt 9 May 2016 From the section Tayside and Central Scotland Image copyright Supplied Image caption William Kean is serving a life sentence for the murder of Jenny Methven A convicted murderer has been declared bankrupt after being sued for damages by his victim’s family. William Kean is…
Creditors of the troubled KVV Liepajas Metalurgs metallurgy company are seriously considering the possibility of filing an insolvency claim against the company, Latvian Economics Minister Arvils Aseradens (Unity) said on the public Latvian Radio on May 6th, cites LETA. He said the Economics Ministry was working on possible scenarios for further actions by the Latvian…
What is refreshing about the new policy framework to resolve insolvency and bankruptcy in corporations is that it doesnt seek to rescue a business at any cost as existing regulations, such as a SICA, attempt to do. (Reuters) The efficacy of any mechanism can be gauged only after it has been put in place…
Dominic Chappell bought BHS from High Street tycoon Sir Philip Green He was bankrupted over fee dispute with Foxtons and marina development Now claims that he was also bankrupted a third time over 20 years ago Mr Chappell denies claims and said he had been victim of a ‘witch hunt’ By Holly Black for the…
Third bankruptcy of BHS buyer revealed 8 May 2016 From the section Business Image copyright Getty Images Dominic Chappell, whose consortium bought the failed retailer BHS last year, has been declared bankrupt three times, it has emerged. It had been known that Mr Chappell was made bankrupt in 2005, following a dispute with an estate…
Image copyright Getty Images Dominic Chappell, whose consortium bought the failed retailer BHS last year, has been declared bankrupt three times, it has emerged. It had been known that Mr Chappell was made bankrupt in 2005, following a dispute with an estate agent, and again in 2009 after a failed property scheme. However, he was…
India has paved the way to replace its archaic insolvency laws with a new bankruptcy code that would help the countrys banks as they struggle under billions of dollars of bad loans. The law could be confirmed as soon as this week. On Thursday, the Lok Sabha, Indias lower house of parliament, passed the Insolvency…
3.5-lakh crore of debt stuck New Delhi, May 6: With the Insolvency and Bankruptcy Code inching towards reality, early redress of almost 75,000 cases involving debt of an estimated 3.5-lakh crore is what the government and stakeholders expect. While the Debt Recovery Tribunals (DRT) will resolve individual bankruptcy cases, the National Company Law Tribunal will…