Friday, 3 November 2023, 9:30 amPress Release: BWA A leading insolvency firm warns that a potential second wave of business failures is on the way, with consumer-facing sectors in the firing line. BWA Insolvency managing director Bryan Williams says the continuing pressures of reduced consumer spending and slowing global economies are impacting NZ businesses, as…
On 1st November 2023, the new Luxembourg law of 7 August 2023 on the continuation of businesses and modernisation of insolvency law (the “Law”) enters into force. This long-awaited reform implements Directive 2019/1023 to introduce a modern restructuring regime, with out-of-court and court supervised mechanisms to protect companies in distress. The Law is expected to…
Lloyds Banking Group declared the holding company of the Telegraph Media Group to be hopelessly insolvent as it claimed the offers made had fallen well short of the headline debt. As a result of the default, it appointed receivers over B.UK Limited, a Bermuda company, and has appointed Goldman Sachs, the investment bank, to sell…
4 mins. to read Interest Rates Heading Higher? Well, we now know that the Governor of the Bank of England and his committee voted in favour of holding the Base Rate at 5.25%. But is that the right decision? Various notables in the City consider that it would have been better to have raised the…
On November 1, the District Court of The Hague declared the company Celtic Koeling bankrupt. M.W. Schller was appointed as curator. The Nieuw-Vennep-based refrigeration company was founded in 1997, working in the design and installation of custom refrigeration and freezer systems, air conditioning systems and turnkey solutions for the refrigeration of vegetables, fruit, flowers and…
Delhi: Another paper mill employee of Cachar Paper Mill, a closed unit of the defunct Hindustan Paper Corporation (HPC), passed away on Monday following a cardiac arrest. The deceased identified as Tushar Kanti Mishra, a resident of the Chengkuri area in Silchar, was 59. Manabendra Chakraborty, president of the Joint Action Committee of Recognized Unions…
THE CHAIR of a regional arm of financial trade association R3 says more businesses are turning to insolvencies than at this time last year after new figures emerge. It comes after the Insolvency Service published personal and corporate insolvency statistics for England and Wales were published in September. Figures show that corporate (business) insolvencies where…
The National Company Law Tribunal (NCLT), Kochi Bench, comprising of Justice T Krishna Valli (Retd.) (Judicial Member) and Shri. Shyam Babu Gautam (Technical Member) dismissed a stay application and has held that the moratorium under sections 96 and 101 of the Insolvency and Bankruptcy Code (IBC) cannot be meant to prohibit the right to action…
LONDON, Oct 31 (Reuters) – The number of companies in England and Wales declared insolvent during the three months to the end of September remained close to levels seen after the 2008 financial crisis and was down only slightly from the previous quarter’s 14-year high. The Insolvency Service, a government agency, said the number of…
THE CHAIR of a regional arm of financial trade association R3 says more businesses are turning to insolvencies than at this time last year after new figures emerge. It comes after the Insolvency Service published personal and corporate insolvency statistics for England and Wales were published in September. Figures show that corporate (business) insolvencies where…