Debts to the state and social security entities will be forgiven for debtors who are also relieved of other arrears in case of bankruptcy, according to a ministerial decision regarding the application of the new bankruptcy code. The exemption from the payment of requirements will concern both individuals and companies and will be granted 36…
Tue, 20 Apr 2021 | BUSINESS NEWS Government figures show that UK company insolvencies rose 44.8 per cent from 685 in February to 992 in March, as the impact of the COVID-19 pandemic on businesses began to become clearer. UK company insolvencies, as well as administrations, have largely remained low since the onset of the…
According to the reports sent to the commercial court number 2 of Alicante by the bankruptcy administrator of the Agricultural Cooperative of Altea, which started its insolvency procedures on February 13, 2020, and was declared bankrupt on February 11, 2021, the cooperative and its Villaranja subsidiary have debt amounting to 28 million euro, 4 million…
Tweaks to insolvency rules during the COVID-19 pandemic produced a strange phenomenon a recession without soaring company wind-up numbers. That’s all set to change. (Image: AAP/Private Media) Among the many good pieces of policy introduced during the pandemic was a very accommodating set of rules around insolvencies. It was very difficult indeed for a company…
18 April 2021 Consultancy.com.au 2 min. read Insolvency and restructuring consultancy Mackay Goodwin has broadened its service portfolio to include corporate advisory, with Covid-19 having presented unique challenges for clients. Mackay Goodwins expansion into corporate advisory services is overseen by Anthony Lucic and Michael Bogue, who have both been brought in to lead the new…
Earlier this month, NBCC and Mumbai-based Suraksha group submitted their revised bids to acquire Jaypee Infratech through an insolvency process TopicsJaypee Infratech|Jaypee Infratech bid Jaypee Infratech’s lenders have asked state-owned NBCC Ltd and Suraksha group to improve their bid and offer more land parcels under an insolvency process to acquire debt-laden realty firm. Earlier this…
By David Milliken 2 Min Read LONDON, April 15 (Reuters) – More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic. Britains economy shrank by almost 10% last year and…
A man whose bankruptcy saw 37 social houses go to auction has found himself before Tweed Heads Local Court. Geoffrey John Hirning purchased the Downs Housing company, previously Downs Aboriginal and Islander Housing Company, in 2016 before filing for bankruptcy a year later. As a result of the bankruptcy the 37 houses in Toowoomba, all…
These monthly statistics are designated as experimental statistics, defined in the Code of Practice as new Official Statistics undergoing evaluation that are published in order to involve users and stakeholders in their development as a means to build in quality at an early stage. Experimental statistics status is given at the discretion of the responsible…
The administrators said it did not appear that the Australian group had been insolvent from a balance sheet perspective for any length of time before they were appointed, but said they needed to do detailed investigations examining whether it traded insolvent from a cash flow perspective. They noted the company was highly illiquid, but this…