Shining a Light on Structured Dismissals This article provides a discussion of the June 9, 2021 decision In re KG Winddown, where U.S. Bankruptcy Judge Martin Glenn clarified some unresolved issues about structured dismissals in Chapter 11 bankruptcy cases that stemmed from the 2017 U.S. Supreme Court decision in Czyewski v. Jevic Holding. Navigating Preference…
DetailsAfter getting rapped for accepting Vedanta group’s bid that would give just 5 per cent of their outstanding loans, lenders to Videocon Industries on Monday approached the insolvency appellate tribunal NCLAT seeking fresh bids for the debt-laden consumer durable firm. Billionaire Anil Agarwal’s Twin Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries,…
DetailsThis is up 71% when compared to the 788 figure reported in August 2020 though it is similar to the 1,366 registered in August 2019. As for creditors voluntary liquidations (CVLs), there were 1,256 handed in August 2021 – which is the highest level seen in the series since January 2019. The number of registered…
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…
DetailsIn Switzerland, casinos, physical or online, generate an annual turnover of CHF650 million ($698 million). Residents also spend nearly CHF1 billion on lottery cards and betting on sports. Keystone / Obs/grand Casino Luzern Ag/(c) G The number of gamblers banned from Swiss casinos rose sharply last year to over 10,000, driven by the growth in…
DetailsShares of Evergrande have plunged to over 11-year lows, extending losses as executives try to salvage its business prospects and as default fears grow over a looming deadline for payment obligations this week. Evergrande has been scrambling to raise funds to pay its many lenders, suppliers and investors, with regulators warning that its $US305 billion…
DetailsMeanwhile, the White House has ruled out offering policy concessions to Republican lawmakers to lure GOP votes, according to three senior administration officials familiar with the matter. McConnell has not communicated any requests to the administration of what he wants in exchange for support for the suspension, the people said. Even if McConnell does outline…
DetailsEnlarge this image According to the State Department, 14 au pair agencies operate in the U.S. These private companies are required to offer the child care workers who contract with them basic health coverage. But the plans often amount to emergency or travel insurance not the kind of full coverage ACA health plans offer. Petri…
DetailsThe official liquidator for the defunct Fund Management Companies (FMCs) will on Thursday, September 23 have an investor class meeting with customers of some defunct FMCs. A statement by the Registrar-General stated that all the creditors of the under listed companies are being invited to a virtual first creditor meeting on the scheduled time for…
DetailsMember Article Corporate insolvencies increased by 22.9% to 1,348 in August 2021 compared to Julys figure of 1,097, and increased by 71.1% compared to August 2020s figure of 788 Personal insolvencies increased by 0.2% to 9,106 in August 2021 compared to Julys figure of 9,090, and were 42.7 % higher than August 2020s figure of…
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