A number of cruise ships sit laid up awaiting their fate due to the COVID-19 pandemic, whether its a new brand and a return to cruising, or the eventual demolition market. SatoshiCapacity: 1,590Tonnage: 70,000Year built: 1991 The Satoshi (pictured above) seems to have escaped the breakers after being sold to new owners. Previously Alang-bound, the…
DetailsThe NCLT plea had been filed by a Gurgaon hotelier, who had accused the company of defaulting on payments and violating an agreement. The NCLAT ruling has now halted a ruling by the Ahmedabad bench of the NCLT initiating corporate insolvency proceedings against the subsidiary, OHHPL. File image of Oyo Founder and CEO Ritesh Agarwal…
DetailsPrint this page About GDMF The Government Debt Management Function was established in 2017 to provide strong functional leadership at the centre of government, with the right technical expertise. Our vision is to create fair debt outcomes for all. Good debt management is a key part of achieving the governments objectives for fiscal policy. When…
DetailsImage source: Getty Images Share this page: What is insolvency? What does it mean to be insolvent? And how does insolvency differ from bankruptcy? If youve ever found yourself pondering these questions, then this article is for you. Well tell you everything you need to know about insolvency and the consequences it could have for…
DetailsAllan Kenneth Barke (34), of Stockport, appeared at Chester Crown Court before HHJ Everett on 1 April where he was banned from acting as a company director for 8 years. The court heard that Allan Barke had been director of Cheshire Fitted Furniture Limited from its incorporation in November 2014 until September 2015. The furniture…
DetailsFile photo taken on Nov 19, 2020 shows the media center of the Group of 20 (G20) in Riyadh, Saudi Arabia. [Photo/Xinhua] Some developing countries still struggling to combat the COVID-19 pandemic have been granted more time to stave off the economic effects after the G20 group of the world’s largest economies extended its offer…
DetailsSave the Children welcomes the G20s efforts to respond to the economic crisis caused by the COVID-19 pandemic, including vital support for the worlds poorest countries. However, with 35 low-and-middle-income countries continuing to spend more on debt payments than on healthcare for their people, the organisation remains extremely concerned about the lack of debt relief…
DetailsBeyond Debt Thousands of Sole Traders will have no choice but to file for Bankruptcy, according to Beyond Debts Ben Paris. The government thresholds for Debt Agreements, an alternative to Bankruptcy, are too low at $118,063.40 and the three years term too short to assist many. There are 912,411 Sole Traders, the most common business…
DetailsOwners of micro, small and medium enterprises (MSMEs) going into bankruptcy proceedings under a simplified regime rolled out this week could lose their business in certain cases if they do not match a better offer from a potential investor. The Insolvency and Bankruptcy Board of India (IBBI) is currently framing regulations under the new bankruptcy…
DetailsThe UK government has extended its suspension of various rules and procedures affecting distressed businesses as a result of the coronavirus (COVID-19) pandemic. However, with the UK lockdown easing on a rolling basis up to 21 June 2021, these may be the last of the blanket extensions across all of these areas. Expect the gradual…
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