Photograph: Shutterstock The steak-and-salad bar chain Sizzler has sued the U.S. Small Business Administration in a last-ditch effort to get a second Paycheck Protection Program loan just days before the fund is expected to dry up, arguing that the agency is improperly putting a hold on the company over its bankruptcy filing last year. The…
DetailsRelated Articles GamCare has called for UK financial institutions and businesses to work together in ensuring that all gambling block loopholes are closed in order to protect vulnerable consumers. The call for collaboration follows GamCare hosting its Gambling Related Financial Harm workshop in which diverse financial stakeholders shared insights on the design and safety features…
DetailsAuthor: Sarojanand Jha, Founding Partner, Vedanta Legal In a recent landmark decision, the Supreme Court has upheld the challenge to a Notification dated 15th November 2019 (Notification) issued by the Ministry of Corporate Affairs, which brought into force the provisions of the insolvency of Personal Guarantor to the Corporate Debtor. The expression Personal Guarantor is…
DetailsNg Yu Zhi (R), a director of Envy Global Trading, arrives at the State Court in Singapore April 20, 2021. REUTERS/Edgar Su Singapore firms accused of being involved in a $1.1-billion bogus nickel trading scheme should be placed in liquidation as there was no business to be preserved, interim judicial managers at accounting firm KPMG…
DetailsVelocity members will now be able to rack up points at 7-Eleven stores. Picture: NCA NewsWire / James Gourley Velocity members will now be able to rack up points at 7-Eleven stores when purchasing fuel and snacks. The new partnership between Virgin Australias loyalty program and the major convenience retailer will allow customers to earn…
DetailsGambling charity GamCare has suggested ways in which gambling-related financial harm can be reduced. In a GamCare-hosted workshop, the charity brought together 45 representatives from financial services and people who have suffered gambling harm. The idea of the workshop was to discuss ways the industry can improve gambling blocks; in recent years, UK banks have…
DetailsRelated Articles GamCare has called for UK financial institutions and businesses to work together in ensuring that all gambling block loopholes are closed in order to protect vulnerable consumers. The call for collaboration, follows GamCare hosting its Gambling Related Financial Harm workshop in which diverse financial stakeholders shared insights on the design and safety features…
DetailsProperty scion Daniel Grollo has avoided the humiliation of his collapsed Grocon construction empire being liquidated after the tax office and creditors of 88 failed companies voted to accept an arrangement that will see small creditors and employees paid out. Creditors met on Thursday to vote on Mr Grollos proposal for an amended Deed of…
DetailsMalawi Airlines announced (20-May-2021) plans to resume full operations in mid Jun-2021. Destinations will include Dar Es Salaam, Harare, Lusaka and Nairobi. The airline’s shareholders, the Malawian Government and Ethiopian Airlines, reached an agreement to recapitalise Malawi Airlines after its board previously declared the company to be technically insolvent. The insolvency was mainly due to…
DetailsThe national insolvency firm has been appointed Asia-Pacific lead of a global insolvency network, set to benefit members by offering them easier access to cross-border insolvency specialists and business referrals. National insolvency specialists Jirsch Sutherland on Wednesday joined international insolvency network Global Restructuring and Insolvency Professionals (GRIP), where it will serve as lead of the…
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