Executive Summary On 8 October 2020, the UK Government’s Insolvency Service issued a report on the state of pre-pack sales following the administration of insolvent UK companies (Pre-Pack Sales) and published draft regulations to require enhanced scrutiny of Pre-Pack Sales to connected parties during the administration process (the Draft Regulations). If the Draft Regulations are…
Industrialist Pramod Mittal, who reportedly spent 60 million Euros (about Rs 505 crore) on his daughter’s wedding, has claimed that he owes 2.5 billion pounds. This would make the steel tycoon, the younger brother of UK-based steel magnate Lakshmi Mittal, Britain’s biggest bankrupt. Mittal, 64, was declared bankrupt this summer by the Insolvency and Companies…
You have been the victim of a deliberate violent offence in the European Union (EU), but the offender cannot compensate you? Did you know that you can obtain compensation from the State for the injuries you have suffered[1]? In the Grand-Duchy, the Law of 12 March 1984 regulates the national scheme compensation. How does it…
Thomas Knowles was born in 1782 in Hythe, Kent, and went on to work as a servant in London. He was declared insolvent in 1819 and 1825, before finally being admitted to debtors prison for several months in 1829. William Hole, who was also born in Hythe, in 1793, worked as an apprentice before moving…
Boris Becker steps out for dinner a day before his first court hearing for ‘hiding a Chelsea flat and 1.2m in cash’ amid bankruptcy in 2017… for which he faces SEVEN YEARS in jail Becker is accused of failing to fully declare his estate to Insolvency Service High Court has imposed restrictions on Becker’s finances…
Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return since Sept. 23, 2010 is 276.8%. On that day in history, movie rental giant Blockbuster officially declared bankruptcy, officially marking the changing of the guard in video entertainment to Netflix, Inc. (NASDAQ: NFLX)…
JAKARTA, Indonesia – The economic impact of coronavirus crisis has been perceived. We have seen hundreds or even thousands of employees were laid off from their jobs, and most contractors stand their projects down because of strict restrictions during the pandemic. The next phase that we are currently facing is disputes, arising as the effect…
Tuesday, October 20, 2020 EXECUTIVE SUMMARY On 8 October 2020, the UK Government’s Insolvency Service issued areporton the state of pre-pack sales following the administration of insolvent UK companies (Pre-Pack Sales) and publisheddraft regulationsto require enhanced scrutiny of Pre-Pack Sales to connected parties during the administration process (the Draft Regulations). If the Draft Regulations are…
U.S. corporate bankruptcies continue to pile up amid the coronavirus pandemic but at a rate that continues to slow down from earlier in the crisis. Twenty companies joined the list of bankruptcies in the last two weeks, according to an S&P Global Market Intelligence analysis. This is slightly below the number of filings in comparable…
Buffeted by the pandemic coming on top of long-term changes in health care, the owner of Franklin Regional Hospital and Lakes Region General Hospital has declared bankruptcy, with Concord Hospital stepping up as a suitor. Mondays decision by two of the states smallest hospitals to declare Chapter 11 bankruptcy is part of a general pattern…