Category Archives: Bankruptcy

IBBI discussion paper suggests changes in insolvency process for personal guarantors to corporate debtors – Business Today

To ensure faster resolution and greater efficiency during insolvency proceedings, the Insolvency and Bankruptcy Board of India (IBBI) has proposed changes in the process of appointing resolution professionals for personal guarantors to corporate debtors, while recognising the interconnectedness between the two.  In a new discussion paper, the IBBI has also proposed sharing reports prepared by…

Young Aussie who declared bankruptcy at 24 after losing her job and racking up $75,000 in debt reveals why it' – Daily Mail

Young Aussie who declared bankruptcy at 24 after losing her job and racking up $75,000 in debt reveals why it’s the best move she ever made By Antoinette Milienos For Daily Mail Australia Published: 16:21 AEDT, 5 October 2023 | Updated: 16:44 AEDT, 5 October 2023 A 24-year-old … Read the full article at: https://www.dailymail.co.uk/news/article-12595701/Young-Aussie-declared-bankruptcy-losing-job-huge-debt-reveals-why.html

Rising insolvencies create financial hardship – Australian Broker News

While mortgage arrears remain low, Australians are starting to fall behind on other debts as the cost-of-living crisis bites down on household budgets, according to digital credit and collections platform Credit Clear. Andrew Smith said there has been a steep change in the way not only companies but people and consumers in general reacted to…

India changes insolvency rules to exclude leased aircraft – Reuters

BENGALURU, Oct 4 (Reuters) – India has amended its insolvency rules to exclude leased aircraft from a moratorium that kicks in when an airline goes into bankruptcy, according to a government notification released on Tuesday, a move that could resolve discrepancies between global leasing rules and its bankruptcy laws. Some provisions of the Indian Bankruptcy…

24yo Aussie goes bankrupt after holiday loan – news.com.au

Chantelle is yet to turn 25 and shes already declared bankruptcy. The Gen Zer, who works full-time for an energy company and earns $60,000 a year, was forced to declare bankruptcy after finding herself $75,000 in debt and unemployed. Chantelles very open about her debts and recently went viral on TikTok and amassed more than…

Celsius aims to start customer repayments in two months – FinanceFeeds

Celsius Network, a crypto lender currently navigating bankruptcy proceedings, revealed its intention to begin reimbursing its customers before the years end. This disclosure was made during a hearing on October 2, where the approval of Celsius Networks reorganization plan was being discussed. Per a Bloomberg report, the crypto lending platform intends to pivot towards becoming…

Construction insolvencies spike – Mortgage Professional Australia

New South Wales appears to be most severely affected, with 389 construction collapses, accounting for 59% of the total number. While the data does not encompass the entire September quarter, it serves as a worrying indicator that the weakness in the construction sector could surpass last year’s national insolvency figures, The Australian reported. In the…

Katie Price insists she won't lose multimillion Mucky Mansion over her bankruptcy as she declares: 'It's mine – Daily Mail

Katie Price insists she won’t lose multimillion Mucky Mansion over her bankruptcy as she declares: ‘It’s mine – no one can ever take it’ By Milly Veitch For Mailonline Published: 23:09 AEDT, 3 October 2023 | Updated: 23:21 AEDT, 3 October 2023 Katie Price has denied reports … Read the full article at: https://www.dailymail.co.uk/tvshowbiz/article-12588161/Katie-Price-insists-lose-multimillion-Mucky-Mansion-bankruptcy.html

Infarm's Dutch branch declared bankrupt – FoodBev.com

Vertical farming company Infarm has been declared bankrupt in the Netherlands, according to official documents. The news comes after the company closed operations across its key markets in the UK, France, Germany, the Netherlands and Denmark over the last year, completely exiting the European market. At the end of last year, Infarm laid off more…

Chatham Homes collapses: Melbourne construction company goes into liquidation – Daily Mail

Chatham Homes collapses: Melbourne construction company goes into liquidation Construction company collapsed Chatham Homes went into liquidation  By Ashley Nickel For Daily Mail Australia Published: 12:01 AEDT, 3 October 2023 | Updated: 12:35 AEDT, 3 October 2023 A Melbourne-based… Read the full article at: https://www.dailymail.co.uk/news/article-12586865/Chatham-Homes-collapses-Melbourne-construction-company-goes-liquidation.html