Insolvency consultancy firm Interpath Limited has taken full custody of the Hector decentralized autonomous organization (Hector DAO) treasury as of February 21. The company, also known as “Interpath Advisory,” has likewise taken control of the HectorDAO social media channels, which it intends to use to communicate with investors going forward, according to announcements on the…
DetailsCaesarstone PR In the latest earnings call, Caesarstone Ltd. (CSTE) reported a series of strategic restructuring actions aimed at improving its financial stance amidst a challenging global market. The manufacturer of high-quality engineered quartz surfaces announced a positive cash flow from operations of $66.5 million and a net cash position of $83.5 million. Despite a…
DetailsAn Australian music company led by a director with a criminal conviction has been spared from going into liquidation, for now. News.com.au previously reported that NSW-based music company, Blue Pie Records, with offices in Australia and the US, had landed itself in hot water over claims from musicians that the record label had used their…
DetailsNEW YORK The United States and China are discussing new measures to prevent a wave of emerging market sovereign defaults, according to people familiar with the situation, one of the most significant attempts in years at economic cooperation between the rival superpowers. The talks including ways to pre-emptively extend loan periods before countries miss payments…
DetailsMUMBAI: Mediation will help to reduce the burden on National Company Law Tribunals (NCLTs) and especially disputes between operational creditors and defaulting companies will get resolved faster, feel lawyers. They added that the manufacturing and real estate sectors stand to gain most.Empower Your Corporate Journey with Strategic Skill Courses Offering College Course Website Indian School…
DetailsThe claim The Coalition has accused the government of laying waste to the manufacturing industry, citing an increase in the number of company insolvencies on Labor’s watch. In a January 16 opinion piece published in The Australian, Deputy Opposition Leader Sussan Ley blamed Prime Minister Anthony Albanese’s “lack of an economic plan, failed industrial policies and distracted…
DetailsBuzzFeed announced it sold Complex, a media startup that focuses on streetwear and pop culture, to the live-stream video shopping network NTWRK. According to BuzzFeed, it sold Complex in a $108.6 million all-cash deal, with an additional $5.7 million to cover severance and other expenses for laid-off Complex employees. BuzzFeed also announced it will be laying…
DetailsThe England and Wales Court of Appeal recently handed down its first judgment relating to a restructuring plan under Part 26A of the UK Companies Act 2006: Re AGPS Bondco Plc [2024] EWCA Civ 24. Restructuring plans were a 2020 innovation in UK insolvency law, as described in our earlier alert. At first instance, the judge…
DetailsStudent loan borrowers disproportionately experience different forms of material hardship relative to their nonborrower peers. Studies show that households with student debt have lower net worth and are more likely than their counterparts without student debt to be late on bill payments, be denied credit, experience bankruptcy, and have other financial difficulties.1 Because most borrowers…
DetailsBankruptcy in the Australian vernacular refers to personal insolvency, it does not extend to corporates or other legal entities. Australias personal insolvency laws have not been subject to a comprehensive review since the Harmer Report in 1988, the Australian COVID-19 moratoriums have now come to an end, and many Australians are currently experiencing financial stress…
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