Mrs Jemima Oware, the Registrar-General, says the implementation of the new Companies and the Corporate Insolvency and Restructuring Acts (CIRA) will turn the fortunes of businesses in the country. The Companies Act, 2019 (Act 992) and the CRIA 2020 (Act 1015) were passed into law on August 2, 2019 and April 30, 2020 respectively, to…
DetailsMrs Jemima Oware (middle), Registrar General, making some remarks as Mr Felix Addo (left), President, Ghana Association of Restructuring & Insolvency Advisors, and Mr Hamidu Solo (right), Project Lead, International Finance Corporation, look on. Picture: NII MARTEY M. BOTCHWAY The Registrar Generals Department (RGD), in collaboration with its partners, has launched a soft copy of…
DetailsBy Anthony O. Goriainoff Manolete Partners PLC said Tuesday that its performance to date has been in line with management’s expectations despite the effect of the Corporate Insolvency and Governance Act 2020, known as the “temporary measures,” which led to a fall in corporate insolvencies. The act came into force on June 26, 2020, and…
DetailsMacaus Gaming Inspection and Coordination Bureau (DICJ) told senior representatives of the citys gaming industry on Monday that it will consider both Macaus employment market and ROI for investors in determining the length of licenses to be issued under the upcoming re-tendering process for Macaus gaming concessionaires. The update formed one of the few pieces…
DetailsAlan J. Brody, a Restructuring & Bankruptcy shareholder in global law firm Greenberg Traurig, LLP’s New Jersey office, will co-chair the 2021 Turnaround Management Association (TMA) Mid-Atlantic Networking Summit on Sept. 23-24 at the Hard Rock Hotel & Casino in Atlantic City, NJ. The conference is the “premier event for the Mid-Atlantic region” and will…
DetailsThe Melbourne Star observation wheel is facing a multimillion-dollar debt bill after it was forced to close, becoming the latest high-profile casualty of the COVID-19 pandemic. MB Star Properties Pty Ltd announced earlier this month the company was going into liquidation because travel restrictions and lockdowns had exacerbated financial struggles and made it impossible to…
DetailsAndrew Left called Evergrande insolvent in 2012. Citron Research The looming debt crisis faced by China’s second largest property developer was on Andrew Left’s radar nearly 10 years ago. The famed short-seller said China’s Evergrande would be “severely challenged from a liquidity perspective” in a 2012 report. Hong Kong subsequently imposed a five-year ban on…
DetailsNEW YORK, Sept. 20, 2021 /PRNewswire/ — Katten announced today that its Insolvency and Restructuring practice was honored by The M&A Advisor in five categories of the 15th annual Turnaround Awards, known as one of the restructuring and distressed investing industry’s benchmarks for excellence. Katten (PRNewsfoto/Katten) “Ours is a group of exceptionally talented attorneys with…
DetailsAn American flag flies outside of the U.S. Capitol dome in Washington, U.S., January 15, 2020. REUTERS/Tom Brenner/File Photo WASHINGTON, Sept 20 (Reuters) – Top Democrats in the U.S. Congress on Monday said they would aim to continue funding the government and increase its borrowing authority in a single bill in coming days, setting up…
DetailsAugust 2021 saw the number of company insolvencies reach their highest level since the first UK lockdown, with businesses balancing the easing of restrictions with the end of government support. There were 1,348 registered company insolvencies in August 2021, according to figures released by the Insolvency Service 71% higher than in the same month in…
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