The government would probably change the insolvency law to permit “customised resolutions” of insolvent residential real estate projects to assure prompt delivery of flats to homebuyers in troubled housing projects, according to a media report by the Economic Times (ET). The proposed revisions to the Insolvency and Bankruptcy Code (IBC) would permit resolution depending on…
DetailsWith the current economic tumult, many people are struggling to keep their pocketbooks in order. Financial stress can have a significant impact on your mental and physical health, relationships and well-being. Whether youre dealing with mounting debt, job loss or simply trying to build savings, credit counseling may help you take control. What is credit…
DetailsThe Supreme Courts 3 May judgment, in MK Rajagopalan v Dr Periasamy Palani Gounder & Anr, shows insolvency resolution plans must be approved by a committee of creditors before being put to an adjudicating authority. The court upheld an order by the National Company Law Appellate Tribunal (NCLAT) that the successful resolution applicant was ineligible…
DetailsMichael on Caleb Hammer’s “Financial Audit” podcast.Caleb Hammer / YouTube Redeem now A man who appeared on the podcast “Financial Audit” owed over $1,000 to the IRS. Host Caleb Hammer told him the IRS “is not someone we fuck with.” He also could not remember some of his large purchases, including $742 at Best Buy.…
DetailsA controversial restaurant chain has collapsed just two years after launching in Australia after being mired in controversy. On Monday, a notice was released on ASIC that Viral Ventures (Australia) Pty Ltd had gone into voluntary liquidation. The appointed liquidators are Chris Johnson and Andrew McCabe of insolvency firm Wexted Advisors. Viral Ventures (Australia) Pty…
DetailsBy John Campbell BBC News NI economics and business editor A Northern Ireland property company is the major commercial partner of an English local council which has effectively declared bankruptcy. Woking Borough Council says it is facing “a serious financial shortfall” and has stopped spending on all non-essential services. The council borrowed 2bn to invest…
DetailsThe government will likely amend the insolvency law to enable “customised resolutions” of bankrupt residential real estate projects to ensure swift delivery of flats to homebuyers in stressed housing projects. The planned changes to the Insolvency and Bankruptcy Code (IBC) would allow resolution depending on the nature of the projects, instead of stipulating one rigid…
DetailsAustralian insolvency advisory firm Cathro & Partners has expanded its portfolio with a new service line focused on personal insolvency. Simon Cathro, Managing Partner at Cathro & Partners, said that the launch of the new offering comes in response to growing demand for personal insolvency work, at a time when the number of companies and…
DetailsBy John Campbell BBC News NI economics and business editor A Northern Ireland property company is the major commercial partner of an English local council which has effectively declared bankruptcy. Woking Borough Council says it is facing “a serious financial shortfall” and has stopped spending on all non-essential services. The council borrowed 2bn to invest…
DetailsTwo separate Scottish care homes have been declared insolvent this week. Hogganfield Care Limited operates Hogganfield Care Centre, a 44-bed nursing home at 1791 Royston Road, Millerston, Glasgow. Skye Care Limited operates Skye View Care Centre, a 24-bed, specialist dementia centre at 1 Arran Drive, Airdrie. Story continues below Advertisement On 5 June 2023, Mark…
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