KUALA LUMPUR: The second reading of the amendments to the Insolvency Act 1967 is expected to be tabled this week in Parliament, says Datuk Seri Azalina Othman Said. The Minister in the Prime Minister’s Department (Law and Institutional Reforms) said this follows its first reading at the Dewan Rakyat on Monday (May 22). The amendments…
DetailsBy Christian Moess Laursen Blackbird said Monday that it has restructured its business and will save around 500,000 pounds ($622,300) annually as a result. The U.K. developer of a cloud-video platform said the restructuring has led to a number of employees leaving the company. Blackbird will focus on growth opportunities in North America, Latin America…
DetailsUnited Arab Emirates May 22, 2023 Leading global professional services firm Alvarez & Marsal (A&M) today released the first edition of its Middle East Turnaround and Restructuring Survey for Q1 2023. The survey asked respondents to indicate whether they anticipate an increase or decrease in businesses experiencing financial distress across the GCC, together with their…
DetailsThe UAE has long been known for its business-friendly policies and tax-free environment. Following the introduction of VAT back in 2018 and corporate tax being rolled out starting in June 2023, UAE businesses and investors are getting used to the new reality tax is here and its here to stay. While some industries have had…
DetailsGo First insolvency: NCLAT will pass verdict on aircraft lessors’ petitions today | Twitter The National Company Law Appellate Tribunal (NCLAT) is set to announce its decision on Monday regarding petitions filed by three aircraft lessors against Go First’s voluntary insolvency resolution proceedings. This verdict will have significant implications for both Go First and its…
DetailsGo First: An aircraft lessor has moved the Delhi High Court seeking directions to the authorities to release the plane leased to cash-strapped Go First. Earlier this month, the Wadia Group-owned Go First filed for voluntary insolvency resolution and said it can no longer continue to meet financial obligations. Following this move, some aircraft lessors moved…
DetailsThe National Company Law Appellate Tribunal (NCLAT) is set to deliver its verdict on May 22 regarding the petitions filed by three aircraft lessors against Go First’s voluntary insolvency resolution proceedings. Stakeholders eagerly await the decision of the NCLAT, which will have far-reaching implications for Go First and its lessors. The two-member bench, led by…
DetailsMumbai: Preliminary talks on a possible rescue of grounded budget carrier Go First through the insolvency process have been initiated with a few financial investors, including a leading global private equity fund, said people with knowledge of the matter. Those approached as potential bidders include several large global structured credit and special situations funds that…
DetailsSouth Australian builder Felmeri Homes has entered into voluntary administration, leaving many customers with unfinished builds in limbo. The Wayville-based family business has been in the industry for 30 years, but more recently, a number of new homeowners complained their builds were delayed and found to have defects. WATCH VIDEO ABOVE: Customers in limbo as…
DetailsSports gambling, or sports betting, has quickly become one of the favorite pastimes of college students across the country. The rise of sports gambling in the United States is a relatively new phenomenon, and the long-term effects of its legalization are yet to be fully examined. However, the US federal government should keep sports gambling…
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