The enacted Corporate Insolvency and Governance Act (the Act) introduces three permanent reforms to the existing insolvency legislation and certain temporary measures designed to address the immediate impact of COVID-19 on UK businesses. Among other things, the Act looks to maximise the potential for struggling companies to be maintained as a going concern. As market…
Rules designed to save thousands of companies from going into administration during the coronavirus pandemic are likely to be extended. The insolvency grace period is set to expire in less than 30 days. But as Australia suffers its worst economic contraction since the 1930s, plunging the country deep into recession, Treasurer Josh Frydenberg is rethinking…
Alexandra Tanya and Aaron Weller are preparing to take Miss Amara to the US. Source: supplied Online rug retailer Miss Amara has relaunched YP Threads, a Brisbane-based party shirt business that went into liquidation in June, after acquiring it for an undisclosed sum. The acquisition is somewhat unexpected, given Miss Amara targets a mostly female…
IMAGE:With companies folding like a deck of cards due to COVID-19, there is no time more critical than now to conduct research into insolvency laws. The man handed that mission,… view more Credit: Singapore Management University SMU Office of Research & Tech Transfer – Big or small, businesses across the world are threatening to topple…
BRI Ferrier, the external administrator of now-bankrupt forex broker Union Standard International Group PTY LTD (USGFX), has issued a notification informing its decision to put the broker under immediate liquidation. This came two weeks ahead of the expiration of the extending convening period for the administrator. The Most Diverse Audience to Date at FMLS 2020…
Date: 31.08.2020 Liquidators have remuneration and funds-handling application approved Redstar’s late model prime movers and trailers were eventually sold off via auction New details have emerged on the complex company structure of Redstar Transport and its liquidation process, which has been ongoing since December 2018. Liquidators Martin Francis Ford and Stephen Graham Longley recently applied…
Launched in Australia back in 2017, Miniso is headquartered in Guangzhou, China, It is understood the company suffered from a lockdown decline in foot traffic, and it did not have a very strong e-commerce strategy. Minisos local landlords, including ASX-listed centre owners Scentre Group, GPT Group, Vicinity Centres and Stockland, are not receiving rent payments…
Opening Remarks by Mrs. Elsie Addo Awadzi, 2nd Deputy Governor of the Bank of Ghana Ghana Association of Restructuring and Insolvency Advisors (GARIA) Webinar on the Corporate Insolvency and Restructuring Act, 2020 (Act 1015) 26th August 2020 Members of the Governing Council and Executives of GARIA Distinguished GARIA Members Distinguished Resource Persons Invited Guests, Ladies…
THE WHAT? Inglot Cosmetics has become the latest victim of the COVID-19 pandemic as its owners announced that it would place the Irish holding company into liquidation, according to a report published by the Irish Times. THE DETAILS The Swarbrigg family will continue to run the brand as an online and wholesale operation, closing all…
Administrators for scandal-hit payments firm Wirecard said on Tuesday that the insolvent company would lay off more than half its remaining German staff. Wirecard’s workforce will be cut by 730 from around 1,300 staff currently, with 570 kept on at the firm’s base near Munich. “The economic situation of Wirecard was and is extremely difficult…