Hong Kong SAR does not have a statutory corporate rescue regime. Many restructurings take the form of workouts, implemented by consent or by way of a Hong Kong SAR law scheme of arrangement. The court appointment of a provisional liquidator, which displaces the company’s directors and includes a statutory stay on proceedings, may be used…
As with the rest of the world, the Covid-19 pandemic has been affecting the operation of companies registered in Luxembourg in multiple ways. With new challenges lying ahead owing to this unprecedented health and economic crisis, local economic stakeholders have had to revisit their business models and prioritise short-term strategies to ensure the viability of…
Nine small and medium-sized garment factories are in big trouble as a German retailer is not paying them on the pretext of being hit by the coronavirus pandemic although the buyer received the goods before the crisis began. Colloseum bought t-shirts, polo shirts and sweaters worth $15 lakh from the Bangladeshi suppliers between December last…
Boris Becker will appear in court this week to face 19 criminal charges over claims he ‘hid property portfolio, bank accounts and shares in artificial intelligence firm’ during bankruptcy hearings Boris Becker, 52, faces claim that he hid finances at his 2017 bankruptcy hearing It’s alleged he failed to declare three properties, along with two…
An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission…
A Perth catering company and its director have been ordered by a local magistrates court to pay more than $20,000 in fines, costs and consumer compensation after failing to turn up at a wedding reception and botching a birthday celebration. Eat Street Enterprises, trading asOle Paella Catering, and sole DirectorBradley John Lambwere fined $3,500 each…
(MENAFN – AzerNews) By Trend The Compulsory Insurance Bureau of Azerbaijan paid compensations to approximately 1,000 creditors of Standard Insurance Company OJSC, which was declared bankrupt, Trend reports,referring to the bureau. In accordance with the Azerbaijani legislation, the bureau has begun fulfilling its obligations under compulsory insurance contracts concluded with the insurance company, and within…
A Nedlands catering company and its Director have been ordered by the Perth Magistrates Court to pay more than $20,000 in fines, costs and consumer compensation after failing to turn up at a wedding reception and botching a birthday celebration. Eat Street Enterprises Pty Ltd, trading as Ole Paella Catering, and sole Director Bradley John…
Vertzayias’ now-defunct property development outfit Globe Project Group had once sponsored the St George-Illawarra NRL team, and he was reportedly “close” to a number of rugby league identities. When Vertzayias declared himself bankrupt in 2012, it was believed among creditors owed $60 million was then Dragons’ coach Nathan Brown along with George Mimis, the manager…
A guest at the party said the unprofessional service had ruined the event. You rushed the service, your vegetarian paella was uncooked, the rice was still crunchy and it was just slopped into paper bowls, she said. A month later, the company failed to show up to a wedding celebration in Margaret River. The mother…