Category Archives: Bankruptcy

Malawi Airlines to resume full operations in Jun-2021 following recapitalisation | CAPA – CAPA – Centre for Aviation

Malawi Airlines announced (20-May-2021) plans to resume full operations in mid Jun-2021. Destinations will include Dar Es Salaam, Harare, Lusaka and Nairobi. The airline’s shareholders, the Malawian Government and Ethiopian Airlines, reached an agreement to recapitalise Malawi Airlines after its board previously declared the company to be technically insolvent. The insolvency was mainly due to…

Ex-darling of German business is declared bankrupt in Dublin – Independent.ie

A self-styled wunderkind of Germanys business scene has been declared bankrupt in Dublin, where he has been studying for a doctorate in finance at Trinity College. avid Schirrmacher (28) founded an online German fashion label, Von Floerke, that went bust in 2019. He appeared on the German version of TVs Dragons Den, where entrepreneurs pitch…

Court of Appeal rejects farmer’s appeal over eight year extension of bankruptcy – Farming Independent

The Court of Appeal has upheld a decision to extend the bankruptcy of Co Monaghan farmer John Hoey whose cattle were shot by members of the defence Forces in 2016. ast year Ms Justice Teresa Pilkington extended the bankruptcy of Mr Hoey for a period of eight years from the time he was declared a…

New insolvency rules help energy companies carve out their environmentally-compromised assets – Financial Post

Breadcrumb Trail Links FP Energy RVOs effect a sale of an insolvent entitys shares in a transaction where assets and liabilities unwanted by the purchasers are excluded Author of the article: Julius Melnitzer Electric vehicle batteries. Creditors objections about Nemaska Lithium Inc. led to the first contested judicial decision on the validity of RVOs. Photo…

Vijay Mallya loses UK appeal for more funds to cover Indian legal fees – Mint

London: Vijay Mallya on Wednesday lost an appeal to gain further access to court-held funds to cover his costs for legal proceedings in India, as a High Court judge in London concluded that the 65-year-old businessman had failed to provide sufficient evidence in support of the over 750,000 pounds being sought. During a remote hearing…

Insolvency and restructuring profession rescues 297,000 jobs – R3 – East Midlands Business Link

The insolvency and restructuring profession rescued 297,000 jobs and returned 1.82bn to creditors in insolvency cases in 2019 the equivalent of around 800 jobs and 5m a day, according to a new report from R3, the insolvency and restructuring trade body. The report, The value of the profession: how insolvency and restructuring supports the UK…

Global investors get power to chase Chinese debtors into mainland – Financial Times

Foreign investors in Chinese groups that have gone bankrupt could be given powers to liquidate assets on the mainland in a deal with Hong Kong that aims to boost business confidence in the countrys legal system. The mechanism will obligate courts in Shanghai, Shenzhen and Xiamen to recognise insolvency orders filed by company creditors in…

Volkswagen Receives 7.5 Billion Bid For Supercar Brand Lamborghini, Autocar Says – Forbes

The Volkswagen Group has fielded an offer for its supercar brand, Lamborghini, from a Swiss-based … [+] consortium. Photo by Chaiwat Subprasom/SOPA Images/LightRocket via Getty Images SOPA Images/LightRocket via Getty Images A consortium connected to the family of the late Volkswagen Group strongman Ferdinand Piech has made a stunning 7.5 billion unsolicited bid to buy…

Katie Price ‘heading back to court’ to face bankruptcy debts of £3.2million – The Mirror

Katie Price is heading back to court in a bid to get out of paying off her 3.2million debt, it’s claimed. The former glamour model, 42, was declared bankrupt in 2019 and was meant to pay off 12,000 a month to her creditors after taking out an individual voluntary arrangement (IVA), but failed to do…

Insolvency and restructuring profession rescued 297k jobs in 2019, R3 report shows – Business Up North

Eleanor Temple, Chair of insolvency and restructuring trade body R3 The insolvency and restructuring profession rescued 297,000 jobs and returned 1.82bn to creditors in insolvency cases in 2019 the equivalent of around 800 jobs and 5m a day, according to a new report from R3, the insolvency and restructuring trade body. The report, The value…