Category Archives: Bankruptcy

5k business insolvencies in months following JobKeeper, report predicts | MyBusiness – My Business

CreditorWatch, in conjunction with McGrathNicol, launched a new white paper exploring insolvency trends, options for businesses working through debts and potential sources of funding post-31 March. The credit reporting agency said that according to figures published by the Australian Securities and Investments Commission, each year, roughly 8,000 businesses are placed into external administration. But it…

NABU places former PrivatBank official on wanted list – Ukrinform. Ukraine and world news

The National Anti-Corruption Bureau of Ukraine (NABU) has placed former board chairman at PrivatBank Oleksandr Dubilet on the wanted list, Acting Chairman of the Specialized Anti-Corruption Prosecutor’s Office Maksym Hryshchuk has told Ukrinform. Dubilet is suspected of involvement in the embezzlement of UAH 8 billion from the bank before it was nationalized in late 2016.…

Business insolvencies mountain turns into ant hill – MacroBusiness

According to data published by ASIC, only 4,751 businesses in Australia appointed insolvency practitioners in the last nine months of 2020, compared with 8,628 during the same period in 2019. More importantly, insolvency experts do not expect a surge in businesses going into administration following the end of the JobKeeper scheme, citing factors such as…

JobKeeper supports more than a million workers. It’s over … so what happens now? – ABC News

The coming weeks could bring onthe biggest economic shocksince the pandemic itself, with the end of the $90 billion JobKeeper wage subsidy scheme. Business owners, bureaucrats and insolvency experts are cautiously awaiting the fallout. Key points: The $90b JobKeeper wage subsidy scheme has ended, with amillion workers still relying on it JobKeeper may have been…

Parish council to write off £17k debt after former allotment holder declared bankrupt – The Northern Echo

A PARISH council will have to write off a debt of almost 17,000 after an allotment holder who took the authority to court declared bankruptcy. Maureen Powles, from Hurworth, near Darlington, was told last year she would have to pay Hurworth Parish Councils costs after she took it to court and lost following a long-running…

All you need to know about bankruptcy in Malaysia – Free Malaysia Today

Worried about being declared bankrupt? Read on. (Rawpixel pic) Generally, the idea of getting bankrupt never crosses our minds, but being declared bankrupt can happen to anyone with some form of debt. A sudden loss of employment or the only source of income will put you in financial distress, and if you are unable to…

Pre-packing the insolvency resolution process – BusinessLine

The Insolvency and Bankruptcy Code, 2016 envisaged standard, plain vanilla processes to start with, but anticipated sophisticated options as the ecosystem matured. With considerable learning and maturity of the ecosystem, and a reasonably fair debtor-creditor relationship in place, the stage is set to push the envelope a bit further. The IBC-envisaged corporate insolvency resolution process…

Bankruptcy procedure against Vneshprombank extended until fall – RAPSI

18:06 26/03/2021 MOSCOW, March 26 (RAPSI) The Moscow Commercial Court has extended the procedure in bankruptcy against Vneshprombank until September 14, according to court records. Earlier, in November, the Moscow District Commercial Court dismissed cassation appeals filed by six former top managers of the bank against seizure of their property. In August 2020, the Ninth…

Automatic filing extensions granted by Corporate Insolvency and Governance Act due to come to an end – Mirage News

The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. The Act granted automatic extensions for filing deadlines between 27 June 2020 and 5 April 2021 to relieve the burden on companies during the coronavirus (COVID-19) pandemic and allow them to focus all their efforts on continuing to operate. Automatic extensions…

Parish council to write off £17000 debt after allotment holder declared bankrupt – Darlington and Stockton Times

A PARISH council will have to write off a debt of almost 17,000 after an allotment holder who took it to court declared bankruptcy. Maureen Powles, from Hurworth, near Darlington, was told last year she would have to pay Hurworth Parish Councils costs after she took it to court and lost following a long-running row…