IBBI amends norms related to insolvency resolution process for personal guarantors – The Economic Times

Bankruptcy

The Insolvency and Bankruptcy Board of India (IBBI) has amended norms pertaining to insolvency resolution process for personal guarantors and voluntary liquidation process. Changes have been made to the Insolvency Resolution Process for Personal Guarantors to Corporate Debtors regulations and Bankruptcy Process for Personal Guarantors to Corporate Debtors regulations.Restrictions have been removed for an Insolvency…

Why did Boris Becker go to prison and where is he now? How the tennis legend went from Wimbledon glory to fina – Daily Mail

Bankruptcy

 The 56-year-old German star splurged 100 million on his luxurious lifestyle   The tennis champion was jailed on 29 April 2022 after attempting to hide money By Sukhmani Sethi Published: 06:19 AEDT, 7 February 2024 | Updated: 06:22 AEDT, 7 February 2024 Boris Becker‘s spectacula… Read the full article at: https://www.dailymail.co.uk/news/article-13052557/Why-did-Boris-Becker-prison-tennis-legend-went-Wimbledon-glory-financial-ruin.html

Shielding distressed businesses from unpredictable and devastating financial events – World Bank

Bankruptcy

When a black swan event happens, such as the 2008 financial crash or the COVID-19 pandemic, vulnerabilities and inadequacies of insolvency systems become evident. This is due to the impact of high levels of indebtedness, large volumes of non-performing loans (NPLs), and default risks. During these events, judicial insolvency procedures tend to be time-consuming and…

IBBI amends norms related to insolvency resolution process for personal guarantors – CNBCTV18

Bankruptcy

The Insolvency and Bankruptcy Board of India (IBBI) has amended norms about the insolvency resolution process for personal guarantors and the voluntary liquidation process. Changes have been made to the Insolvency Resolution Process for Personal Guarantors to Corporate Debtors regulations and the Bankruptcy Process for Personal Guarantors to Corporate Debtors regulations. Restrictions have been removed…

Is your business facing insolvency or impacted by customers or suppliers who are? – The Business Magazine

Bankruptcy

Here’s how law firm Blandy & Blandy Can Help. Company insolvencies in England and Wales reached their highest level since 1993 last year according to The Insolvency Service, a government agency. Figures showed 25,158 companies entered into a form of insolvency in 2023. The number of company insolvencies was the highest annual number since 1993.…

IBBI allows same resolution professional to handle insolvency of a firm and its personal guarantor – The Economic Times

Bankruptcy

The insolvency watchdog has amended regulations to allow the same insolvency professional to steer the resolution of a stressed firm as well as the bankruptcy proceedings of its personal guarantors.Budget 2024 Budget at a glance: Your 2-minute guide to become a Budget Pro The removal of the restriction on such a dual role by the…