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…
This article was co-authored with Queenie Mok. In our earlier Legal Update, we outlined the findings of the Parliamentary Joint Committee on Corporations and Financial Services Final Report on Corporate Insolvency in Australia. Recommendation 3 of the Report was a comprehensive review to consider and make recommendations on the options to enhance public interest…
This article was co-authored with Queenie Mok. In our earlier Legal Update, we outlined the findings of the Parliamentary Joint Committee on Corporations and Financial Services Final Report on Corporate Insolvency in Australia. Recommendation 3 of the Report was a comprehensive review to consider and make recommendations on the options to enhance public interest…
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…
Member Article North East Finance Expert Issues Presciption For Avoiding A New Year Debt Hangover A North East finance expert has drawn up a ten-point action plan to help people across the region with money worries avoid a painful New Year debt hangover. Chris Ferguson, North East chair of insolvency and restructuring trade body R3,…
Reuters. FILE PHOTO: The sign of Signa Holding is placed on a crane next to a construction site in Vienna, Austria, December 19, 2023. REUTERS/Lisa Leutner/File Photo FRANKFURT (Reuters) -Signa Development, a key division of European property company Signa, filed for insolvency on Friday in a Vienna court with debts of around 1.16 billion euros…
An investigation into suspected arson has been launched following fires this week which ravaged the site of a non-profit organisation declared bankrupt a month ago, Luxembourgs public prosecutors office has said. Firefighters were called out on two separate occasions to tackle fires this week at the site of Benu Village in Esch-sur-Alzette. The first fire…
Two subsidiaries of major European property company Signa have filed for bankruptcy, the company said on Thursday. Prime Selection AG, co-owner of properties such as the Selfridges department store in London and Berlins KaDeWe, filed for self-administered restructuring in Vienna’s commercial court, while Signa Development Selection – which focuses on residential and commercial urban development…
(Bloomberg) — The implosion of Rene Benkos luxury property and retail empire engulfed the unit that holds a stake in the Selfridges department store. Most Read from Bloomberg Signa Prime Selection AG, which owns most of the groups luxury properties including Berlins KaDeWe, filed for restructuring under self-administration Thursday, the company said in a statement.…
Private sector lender Axis Bank has filed a petition against Zee Learn before the National Company Law Tribunal (NCLT) seeking insolvency proceedings against the the education services provider firm. The company has received a notice from the Mumbai bench of the NCLT in this regard, Zee Learn said in a regulatory filing on Tuesday. “A…