With the recent downgrades issued to several banks by Moodys and S&P in August, as well as the recent banking turmoil which occurred earlier this year, and the flurry of assignment activity in the market, lenders and borrowers alike have become increasingly focused on deposit accounts. In a typical subscription credit agreement (each, an SCF),…
The general contractor for the Lorraine Street transitional housing complex in Sudbury declared bankruptcy earlier this month, leaving the project in limbo. Work continued on site until Oct. 13, a city spokesperson confirmed to Sudbury.com, noting the second-floor installation was completed, weather-proofed, cleaned and secured. Sudbury.com visited the site on Oct. 26, and found a…
With the recent downgrades issued to several banks by Moodys and S&P in August, as well as the recent banking turmoil which occurred earlier this year, and the flurry of assignment activity in the market, lenders and borrowers alike have become increasingly focused on deposit accounts. In a typical subscription credit agreement (each, an SCF),…
ASIC has prosecuted 100 individuals from 1 January 2023 to 30 June 2023 for failing to assist registered liquidators. These prosecutions follow the failure of company officers and other individuals to comply with key governance obligations to provide registered liquidators with access to company books and submit a report on company activities and property (ROCAP)…
Reuters. Bajaj Hindusthan Sugars, an integrated sugar and ethanol manufacturer, has successfully reduced its debt from Rs 4,500 crore to Rs 500 crore, leading to the dismissal of an insolvency petition against the company. The National Company Law Tribunal (NCLT) approved the withdrawal of the petition by the State Bank of India (SBI), following a…
Companies Champion Trust Llc Follow NEW YORK, Oct 26 (Reuters) – Lawyers for FTX founder Sam Bankman-Fried kicked off their case at his fraud trial on Thursday following 12 days of prosecution testimony in which former colleagues at the now-bankrupt cryptocurrency exchange said he directed them to divert customer funds to his hedge fund and…
By Codie Bullen For Mailonline Published: 20:28 AEDT, 26 October 2023 | Updated: 20:29 AEDT, 26 October 2023 Katie Price has hit back at cruel trolls who slammed her for getting hair extensions despite claiming to be ‘skint’. The former glamour model, 45, was declared bankrupt… Read the full article at: https://www.dailymail.co.uk/tvshowbiz/katie-price/article-12674741/Katie-Price-furiously-hits-fans-slammed-bankrupt-model-getting-expensive-hair-extensions.html
Abstract The COVID-19 pandemic had a substantial impact on business dynamics, leading to the temporary or permanent closure of many businesses. By contrast, corporate insolvency proposals and bankruptcies under the Bankruptcy and Insolvency Act declined in 2020. Using a newly developed linked database, this paper presents trends in exits, insolvency proposals and bankruptcies across business…
CORPORATE insolvency numbers (liquidations and receiverships) in Scotland for Q2 2023-2024 increased by 4.8% compared with Q2 2022-2023, to a total of 283. Corporate insolvency numbers in Scotland also increased by 19.9% when compared to pre-pandemic levels in 2019. The number of corporate insolvencies (liquidations and receiverships) in Scotland for Q2 2023-2024 decreased by 3.1% compared with the previous…
Corporate insolvencies in Scotland rose 19.9% during the second quarter, when compared to pre-pandemic levels in 2019 and rose by 4.8% compared to the same period last year. Meanwhile, personal insolvency numbers in Scotland saw no real change, with a decrease of just 0.05% – which equates to a single case – to a total…