The current critical situation would increase the out-of-court M&A deals for distressed assets November 5, 2020 3 min read Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur India, an international franchise of Entrepreneur Media. COVID-19 knocked the wind out of merger and acquisition (M&A) deals in India.It has already and shall continue…
Foreword from the Chief Executive This year the plan has been developed against the backdrop of the COVID-19 pandemic, which has impacted on the economy in an unprecedented way. The Insolvency Service has an important role to play in supporting businesses and individuals in financial difficulty or facing redundancy as a result of their employer…
ANYONE who has not yet claimed they are owed money from the $6.9 million liquidation of the former Terry White and Priceline Pharmacy at Stockland in 2017 is urged to come forward. The liquidator, AS Advisory, has declared creditors whose debts or claims have not already been admitted are required to do so by November…
South Shore Holdings Limited, owner and operator of embattled Macau hotel THE 13, will convene a mandatory Special General Meeting next month after a substantial shareholder requested a vote on winding up the company. In a Wednesday filing, South Shore revealed that it had received a letter from Global Allocation Fund, which holds 101,339,084 shares…
Our latest primer takes a closer look at the Corporate Insolvency and Governance Act (CIGA), the UK’s new ruleset that introduces new guidelines for companies in financial distress as a result of the economic crisis brought on by the Covid-19 pandemic. What is CIGA and what does it do? In June 2020, the UK Corporate…
Distressed micro and small companies will be able to restructure their debts quickly to deal with the economic impact from the pandemic, with help from a new scheme. The Simplified Insolvency Programme (SIP), which also includes processes to help companies which are no longer viable to wind up efficiently while maximising returns to creditors and…
By Fanny Zhang, Business Advisory Services, Dezan Shira & Associates Beijing Office In order to further improve the efficiency of social resources utilization, reduce the exit cost of market entities, optimize the business environment, and continue to stimulate market vitality, China has continuously promoted reforms to its system of enterprise deregistration. As the COVID-19 pandemic…
“The department is continuing its work on the wider decommissioning review including the recommendations and findings of the Independent Review into the Circumstances leading to the Administration and Liquidation of the Northern Oil and Gas Australia (the Walker Review),” Mr Pitt told The Australian Financial Review. He said the department intends to publicly consult on…
Staff at Lithgow company Fairview got good news last week, after Creditors endorsed a business rescue package for the firm. In recent months, the business had entered voluntary administration after some challenging commercial headwinds. The highlights of the recommended business rescue package include: At a meeting trade creditors voted overwhelmingly to accept the independent resolution…
Japanese apparel maker Renown Inc., which had sought court protection to revive its century-old business, will go into liquidation amid plunging sales due to the novel coronavirus pandemic, its lawyers said Monday. The Tokyo District Court last Friday decided to discontinue court protection after a sponsor could not be found. The liquidation procedure is expected…