A non-profit co-op health insurance company that was suspended in July by the Connecticut Insurance Department (CID) due to hazardous financial standing will likely face liquidation by the end of the year, it has been reported. In a Superior Court filing, CID commissioner Katharine Wade stated that further attempts to rehabilitate HealthyCT would be futile…
OLDWICK, N.J.–(BUSINESS WIRE)–The U.S. health industry is bracing for what further action in the possible Penn Treaty liquidation could hold for the sector, as managed care providers have argued that they should not be liable for the failure of a long-term care insurer. According to a new A.M. Best special report, any action in the…
The Ministry of Finance (MoF) is welcoming recommendations from various stakeholders and the insolvency industry to strengthen the insolvency regime. This was announced on Tuesday by Hajah Rena Azlina binti Dato Paduka Haji Abdul Aziz, the Acting Director at the Registry of Companies and Business Names (ROCBN), during her opening remarks at a talk on…
Claire Rowe UK firm Shoosmiths has announced it is expanding into Northern Ireland through a merger with Belfast firm McManus Kearney. Shoosmiths chief executive Claire Rowe said the merger, which brings the firms total number of offices to 12, was motivated by client demand and by our wish to have a commercial presence in Northern…
Recently revived Triton Minerals has made stellar gains on its return to the ASX today, after raising $14.1 million and exiting voluntary administration with a new board and management team. Shares in the Perth-based graphite explorer were suspended from trade in early March (worth 6.1 cents each at the time). The company appointed representatives of…
More than £1m in business rates could be written off by a council after a string of firms ceased trading or went into liquidation. Finance chiefs in North Tyneside say the debt will have to be taken off their books as the businesses involved have failed and no avenues are left to recover the cash.…
1 December, 2016 Ever since the Insolvency and Bankruptcy Code, 2016 (IBC) was passed by Parliament, the Ministry of Corporate Affairs (MCA) has been notifying portions of the IBC selectively as and when supporting infrastructure was created. Set out below are some of the major provisions of the IBC, the related Central Government Rules and…
With the phasing out of the SICA, the Government is all set to usher in the new Insolvency & Bankruptcy Code (Code). Several parts of the Code are gradually being notified in a phased manner, and the insolvency resolution process is now in place. In November, the rules relating to Insolvency Professionals (IPs) and Insolvency…
Restructuring & Insolvency 2017: Analysis The collaboration between Whos Who Legal and Global Restructuring Review has again generated extensive research into restructuring and insolvency legal markets around the world. All told, we list 570 lawyers this year from 47 jurisdictions. Thought Leaders Europe Rita Gismondi Gianni Origoni Grippo Cappelli & Partners, Rome…
Legal News & Analysis – Asia Pacific – Singapore – Insolvency & Restructuring 30 November, 2016 The insolvency scene in Singapore look set to change with the likely enactment of the Companies (Amendment) Bill 2017 (the Bill). Would the Bill have made any difference to the management of Hanjin Shipping Co Ltd’s (“Hanjin”) insolvency in…