With individual insolvency now identified as IBBIs next big reform area, the insolvency regulator has decided to appoint an external institution or an agency for undertaking a research study on individual indebtedness and insolvency. This external agency once selected by IBBI will have a maximum of one year to complete the research report. Insolvency and…
Borrowers in mortgage arrears to gain vital court protection Published 5 October 2020 Helen McEntee Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain vital court protection under new legislation announced today. Justice Minister Helen McEntee has secured government approval for priority drafting of the short but urgent Personal…
Economy State moves to seize SK Macharia assets in bankruptcy order Monday October 05 2020 Businessman SK Macharia. FILE PHOTO | NMG By OTIATO GUGUYUMore by this Author Summary The High Court in 2001 ordered Mr Macharia to repay the debt with an annual interest of 19 per cent that is compounded monthly from December…
Express News Service SHIVAMOGGA: TheCovid pandemic has hit the Charaka Womens Multipurpose Industrial Cooperative Society, forcing it to declare insolvency as it could not repay the debt. Founded by social activist Prasanna Heggodu in 1994, the Society at Bheemanakone in Sagar taluk of Shivamogga district was empowering around 800 handloom weavers, natural dye manufacturers and…
{{featured_button_text}} David Vieth, assistant principal and athletic director for Mattoon High School, was the guest speaker for the recent Kiwanis Club of Mattoon Zoom meeting Submitted photo MATTOON David Vieth was the guest speaker for the Kiwanis Club of Mattoon meeting on Sept. 16. Vieth is the assistant principal and athletic director for Mattoon High…
India should look to make rapid strides towards introducing a comprehensive ‘individual insolvency’ regime now that it has achieved several milestones in corporate insolvency in recent years, according to IBBI Chairman M S Sahoo. Giving a sense of direction to the reform agenda on IBC in the days to come, Sahoo has in an article…
File photo of the Sunny Car Center advertising tower overlooking an empty plot. Image: Jussi Nukari / Lehtikuva On Friday the Supreme Court rejected applications for leave to appeal from two Sunny Car Center executives in one of the longest-running corruption cases in Finnish judicial history. The case centres around an ambitious–but unfulfilled–plan by businessman…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 51 bankruptcies in week 39, the same number as in week 38. In addition, 12 sole proprietorships were declared bankrupt,…
Appointments A Brisbane-based accounting firm has announced a number of key promotions, including the appointment of a new partner to its leadership team. Appointments Tony Zhang 01 October 2020 1 minute read object(stdClass)#15642 (8) { [“image_intro”]=> string(0) “” [“float_intro”]=> string(0) “” [“image_intro_alt”]=> string(0) “” [“image_intro_caption”]=> string(0) “” [“image_fulltext”]=> string(0) “” [“float_fulltext”]=> string(0) “” [“image_fulltext_alt”]=> string(0)…
The Corporate Insolvency and Governance Act 2020 (the Act) came into force on 26 June 2020, providing the UK (but with separate provisions for Northern Ireland)with temporary and permanent changes to insolvency law aimed at helping businesses manage the economic implications of COVID-19. Permanent measures Company moratorium a breathing space against creditor action, initially for…