On 9 November 2023, a three-judge bench led by Chief Justice D.Y. Chandrachud, with Justices J.B. Pardiwala and Manoj Misra, upheld the constitutionality of Sections 95, 96, 97, 99, and 100 of the Insolvency and Bankruptcy Code, 2016. These provisions allow loan creditors to initiate insolvency proceedings against individual and partnership firm debtors. The decision…
The Bill amends the Migration Act 1958 (Cth) (the Act) and the Migration Regulations 1994 (Cth) to introduce a new regime for Subclass 070 (Bridging (Removal Pending)) visas (BVR). Who does the Bill apply to? The Bill is primarily directed to persons who were granted a BVR since 8 November 2023, including the cohort affected…
When Harry and Jen Appel lost their home in Big Pine Key, Florida, to Hurricane Irma in 2017, they thought their insurance policies would cover the cost to repair and they’d rebuild in the same location. The couple showed ABC News’ meteorologist Rob Marciano the spot where their home used to be, now an empty…
THEY may be on our box most nights, but it doesnt mean soap stars aren’t immune to money issues. Earlier this week it was revealed former Coronation Street star Andrew Lancel has been declared bankrupt due to an unpaid large tax bill. Former Coronation Street star Andrew Lancel has been declared bankruptCredit: Rex Beverley Callard…
The Insolvency Service Published 14 November 2023 Contents 1. Data Sources 2. Methodology 3. Revisions 4. Quality Print this page Crown copyright 2023 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National…
The Insolvency Service Published 14 November 2023 Contents 1. Main Messages for England and Wales 2. Things you need to know about this release 3. Company and Individual Insolvencies in England and Wales 4. Company Insolvencies in Scotland 5. Company and Individual Insolvencies in Northern Ireland 6. Data and Methodology 7. Glossary Print this page…
Nov 15, 2023 6.46pm Australias toll of failed construction industry businesses will climb further, data company CreditorWatch warned on Wednesday after a high-end home renovations business went into liquidation leaving 95 customers stranded, some without insurance policies the director was required to arrange before accepting money. Ultimate Kitchens & Bathrooms went into liquidation owing unsecured…
WeWork Inc. never figured out how to make money. Adam Neumann sure did. The office-leasing business declared bankruptcy this week, two years after finally going public minus its infamous co-founder. It has $19 billion of liabilities and $15 billion of assets. Longtime investors, including Softbank Group Corp. and the Vision Fund, will add to the…
UK firms have struggled this year with the Bank of England’s high interest rates and weak consumer spending The number of firms going bust in England and Wales has jumped yet again as the higher-for-longer interest rate environment continues to put pressure on businesses and consumers. Monthly data from the Insolvency Service showed there were…
LONDON, Nov 14 (Reuters) – Business insolvencies in England and Wales rose 18% in annual terms during October, official data showed on Tuesday, in a further sign of the tough economic environment facing many firms. The Insolvency Service, a government agency, reported 2,315 company insolvencies last month, up from 1,954 a year previously and higher…