Company directors have a duty to act in the best interest of creditors (the creditor duty). But at what point is that duty engaged? Put another way, when should directors start worrying about the duties they might owe to creditors? In this briefing, Jolyon Connell, David Fletcher and Oliver Blundell explain how the recent case…
Germany is a bellwether for international economic robustness, but the first half of the year saw the number of German companies filing for insolvency proceedings rise by a hefty 20.5% compared to the first half of 2022 (according to Destatis). This is the largest percentage jump in more than two decades. No wonder that investors…
The number of insolvencies in the third quarter of the year was up 54% on the same period last year. Between July and September, 185 insolvencies were recorded, compared to 120 during those three months in 2022. But new data from credit risk analyst, CRIFVision-Net, shows that while insolvencies grew during that period, so too…
The number of companies going out of business jumped more than 50 per cent between July and September, even as new businesses continued to be created. There were 185 insolvencies during the third quarter of the year, up from 120 a year ago, according to credit risk firm CRIFVision-net. The increase suggests inflation pressures are…
Oct 9, 2023 4.08pm The ASX is set to become a hunting hotspot for private money as cashed-up global funds zero in on distressed companies. Thats the view of White & Case restructuring partner Timothy Sackar amid a spike in corporate insolvencies in Australia. We continue to see listed companies in a number of sectors…
Australian businesses and households are vulnerable to further shocks following high inflation and the tightening of monetary policy. According to the Reserve Bank of Australia’s (RBA) most recent Financial Stability Review, the Australian business sector remains resilient off the back of strong demand and high cash buffers supporting profitability and balance sheets. Nonetheless, the report…
A sharp rise in business insolvencies is being linked to ongoing inflation pressures faced by businesses in all sectors. Data from CRIFVision-Net for the third quarter shows the number of companies becoming insolvent rose by 54% compared to the same period last year. A total of 185 insolvencies were recorded in July, August, and September,…
Aspiring legislators should not make light of the affidavits to be filed by them before the Election Commission of India (EC) disclosing their assets and liabilities. An affidavit filed by one such politician during the 2011 Assembly election, claiming to have taken a loan of 6.25 crore from a businessman, has landed him in trouble…
An increasing number of Queensland businesses being squeezed from both ends are seeking help from insolvency experts before going into administration or liquidation. While Australian Securities and Investments Commission statistics rise and fall dramatically every month, managing partner at WCT Advisory Group Andrew Weatherley said inquires from businesses were steadily increasing. Weve had quite a…
When you or your company are facing cash flow problems and are concerned about your financial solvency, choosing the right course of action to take or understanding the potential outcomes can be difficult. In many cases, if you act quickly enough, there are solutions you can rely on to recover your business, or at least…