The increase in insolvencies worldwide should prompt directors of South African companies to re-look how they will secure their own business continuity should any of their key suppliers fold and stop providing them with mission-critical systems. And, while doing so, theyd be smart to consider active software escrow as the simplest and most cost-effective solution…
The Companies and Allied Matters Act CAMA 2020 was signed into law by President Muhammadu Buhari and serves as the apex regulatory guide for Corporate practice in Nigeria. Unlike the previous CAMA 2004(now repealed), the new CAMA has certain provisions governing Corporate Insolvency practice in Nigeria which revolves around the methods and processes used to…
Laurentian University has formally exited the insolvency process, the school announced Monday, ending almost two years of turmoil at the institution. LU sent shockwaves across the community Feb. 21, 2021, when it announced it was insolvent and was entering protection from creditors under the Companies Creditors Arrangement Act (CCAA). It was the first time a…
The Australian Financial Security Authority (ASFA) has published data that continues an encouraging annual decrease in personal insolvencies. A total of 2,410 personal insolvencies were recorded in the September 2022 quarter, down 8.1% from the same time in 2020. Of these, 59.2% were bankruptcies and 39.5% were debt agreements, with the remainder personal insolvency agreements…
Laurentian University has formally exited the insolvency process, the school announced Monday, ending almost two years of turmoil at the institution. LU sent shockwaves across the community Feb. 21, 2021, when it announced it was insolvent and was entering protection from creditors under the Companies Creditors Arrangement Act (CCAA). It was the first time a…
The High Court has approved a Personal Insolvency Arrangement (PIA) allowing a former property developer and investor write-off approximately 170m of debt owed to parties including Nama and various financial institutions. The PIA was made in favour of 55-year-old Barry Harte, from Timoleague, Bandon, Co. Cork, who is to provide a total of 80,000 to…
A former Cork dentist turned property developer has had a record 170 million in debt written off in a personal insolvency agreement (PIA). It is the largest PIA ever approved by the High Court. As part of the agreement, 55-year-old Barry Harte from Timoleague, Bandon, Co Cork is to provide a total of 80,000 to…
The collapse of the worlds third largest cryptocurrency exchange FTX has claimed another victim, with crypto lender BlockFi filing for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jerseyon Monday. In its bankruptcy filing, the company stated that it had liabilities and assets ranging from $1 billion to…
(Yicai Global) Nov. 28 — Power battery giant Contemporary Amperex Technology appears to have taken the lead in the battle to take control of bankrupt Yajiang Snowway Mining Development, which owns the rights to develop a lithium ore mine in southwestern China. CATL has become the first-in-line investor in Snowway and GCL Energy Technology is…
Croydon Council declared bankrupt for third time – BBC News The BBC is not responsible for the content of external sites. From other local news sites Top Stories Features Elsewhere on the BBC Most Read Read the full article at: https://www.bbc.co.uk/news/uk-england-london-63714274