As the economic stress due to the pandemic deepens, banking is surely going to be one of the most affected sectors, due to heightened default in payments One element often discussed in this context is the new arrangements that SEBI and the RBI are making to ease the pressure on the banking system Many banking…
Russian Anti-Doping Agency (RUSADA) director general Yuriy Ganus has issued a public declaration that he will not kill himself as a row between the anti-doing body and the Russian Olympic Committee (ROC) intensifies. It stems from an ROC-commissioned audit of RUSADA, carried out in March and April, which examined the operational effectiveness of the organisation,…
The Corporate Insolvency and Governance Act (CIGA) in the UK, which became law on 26 June 2020, promises to be the trigger for the biggest changes seen in the insolvency world for almost 20 years, and it contains a number of temporary measures construction companies should also be aware of that are designed to support…
From 15 July 2020, Roy Davies (55) from Rochdale, Lancashire, is banned for six years from acting as a director or directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company. LTG Recruitment Limited was incorporated in April 2015 and Roy Davies, formerly of Frodsham,…
Kyrylo Shevchenko pictured in parliament on July 16 as MPs confirmed his appointment as Ukraine’s new National Bank Governor. REUTERS/Tetiana Bondarenko The Ukrainian parliament endorsed President Zelenskyys nominee Kyrylo Shevchenko as the new Governor of the National Bank of Ukraine (NBU) on July 16, just hours after he emerged as the Ukrainian leaders pick for…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 56 bankruptcies in week 28. This is 2 up on the previous week. In addition, 8 sole proprietorships were declared…
Surprise falls in the number of corporate insolvencies across the country do not yet reflect the effect of the pandemic on businesses, warns the Midlands branch of insolvency and restructuring trade body R3. Recently published statistics, from the Insolvency Service, show that there were 732 company insolvencies in England and Wales in June 2020, which…
The day debt-ridden Texas oil producer MDC Energy filed for bankruptcy eight months ago, a tank at one of its wells was furiously leaking methane, a potent greenhouse gas, into the atmosphere. As of last week, dangerous, invisible gases were still spewing into the air. By one estimate, the company would need more than $40…
“The resurgence of cases in Victoria and warnings in NSW highlight the day-to-day uncertainty of this health crisis and the damage that uncertainty does to the economy, he said. The federal government was quick to take critical steps to provide relief but the impacts from this pandemic will continue beyond the original six-month reprieve. Mr…
Member Article Eleanor Temple, chair of insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds, responds to todays publication of the corporate and personal insolvency statistics for June: The June statistics show both corporate and personal insolvencies fell compared to Mays figures. The decrease in the number of…