Burnleys Charlie Taylor Declared Bankrupt Due to Administrative Error Burnleys Charlie Taylor Embroiled in Bankruptcy Drama Burnleys Premier League defender, Charlie Taylor, recently found himself in the midst of an unexpected financial snafu. The 30-year-old left-back, who commands a sum of roughly 30,000 per week, was declared bankrupt due to unpaid bills. What makes this…
Supreme Court of India. Reuters The much-awaited approval from the top Constitutional Court in India is finally here, paving path for financial creditors to relay back on the fast-paced bad debts resolution track laid by the Govts masterstroke law the Insolvency and Bankruptcy Code. The Supreme Court of India on 9th November 2023 settled the…
Normal text sizeLarger text sizeVery large text size Australian shoppers will soon be unable to buy household cleaning products from Organic Choice, Trix, Orange Power and Aware Sensitive from Coles and Woolworths after the cleaning brands parent company collapsed just days into the new year. On January 2, Hiro Brands appointed three KPMG restructuring partners…
A corporate debtors journey from admission to resolution comprises various compliances and procedures in India, as prescribed in the Insolvency and Bankruptcy Code, 2016 (IBC) and regulations. One of the key steps is implementation of a resolution plan, which requires approvals from relevant regulators under applicable law. Veena SivaramakrishnanPartnerShardul AmarchandMangaldas & Co An amendment in…
[co-author: Hadar Eilon] The Insolvency and Financial Rehabilitation Law came into effect in 2019. The new law added a new cause of action for imposing personal liability on a director or CEO of a corporation in insolvency in respect of damages caused to the corporation and to its creditors, insofar as such directors and officers…
A German local court has opened a regular insolvency proceeding against communications technology company Gigaset AG, Europes market leader for wireless phones, raising questions as to how or whether the struggling company will be restructured. The Mnster Local Court (Amtsgericht Mnster) in North Rhine-Westphalia opened ordinary insolvency proceedings against Gigaset AG, German news outlets reported…
Abdulla Al-Humaidi, a key backer of the troubled London Resort, a proposed theme park in Kent, UK, was declared bankrupt at a recent High Court hearing. The Kuwaiti businessman resigned from the London Resort board last year but previously served as director of London Resort Company Holdings (LRCH). Located on the Swanscombe Peninsula in Kent,…
There have been further problems for the troubled London Resort, the principal backer of which was last week declared bankrupt. Kuwaiti Abdulla Al-Humaidi is a leading contributor to the proposed 2.5bn London Resort close to Dartford in Kent. The project has been constantly stalled for several years, with one disaster after another, yet at one…
Insolvency experts are reportedly gloomy about what 2024 will bring big companies. These firms will face continued high borrowing costs and reduced consumer spending, with tech companies among those facing financial upheaval, the Press Association reported Sunday (Dec. 31), citing interviews with industry experts. The report cited figures from the U.K.-based Insolvency Service which showed the total of…
More big firms are likely to go bust next year amid the double whammy of high borrowing costs and pressure on consumer budgets, according to insolvency experts. Administrators and restructuring specialists also warned the PA news agency that high-growth companies such as tech firms could be among those facing financial turbulence. It comes after another…