The government announced it intends to extend the power (granted through the Corporate Governance and Insolvency Act) to make temporary amendments or modify the effects of corporate insolvency and governance legislation for an additional year until April 2022. The government laid the regulations on 11 February 2021 in Parliament ahead of the power expiring on…
DetailsIn 2020, several significant judicial decisions were rendered across Canada relevant to commercial lenders, businesses and restructuring professionals. This bulletin summarizes the core issues of importance in each case and provides status updates on the cases reported on in our January 2020 bulletin, Key Developments in Canadian Insolvency Case Law in 2019. CHARACTERIZATION AND TREATMENT…
DetailsNews LBV Hub Legal Services Farleys Solicitors North West law firm Farleys Solicitors have launched a free personal insolvency advice line as a response to the sharp rise in number of bankruptcies and IVAs in the last three months of 2020 as the Covid-19 pandemic continues to affect vast numbers of individuals and their finances,…
DetailsLiquor World (Scotland) Ltd was wound up in the public interest on 11 February 2021 by order of Lord Clark in the Court of Session. Julie Tait and Stuart Preston of Grant Thornton UK LLP have been appointed joint interim liquidators of the company. The company, which appeared to have traded as a retailer and…
DetailsA representative of some of the largest companies in the Australian online gambling sector shared that local punters should not be prevented from going into debt to bet. The remark made by Brent Jackson, CEO of Responsible Wagering Australia (RWA) follows Andrew Wallace MPs call for stricter measures to be taken when it comes to…
DetailsFebruary 17, 2021 End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMFs Executive Board. This mission will not result in a Board discussion.…
DetailsBusiness 18 Feb, 2021 02:49 AM 3 minutes to read The developer behind one of New Zealand’s biggest apartment jobs has put the company into voluntary administration, saying not all creditors will be paid. Gary Groves engaged Dominion Constructors to convert the ex-Fonterra headquarters at 9 Princes St in Auckland’s CBD into luxury apartments in…
DetailsCredit card debt most of us have had it at some point in our lives. According to a recent WalletHub study, American families owe an average of $7,800 on their credit cards and total credit card debt in the U.S. is more than $926 billion. If you are one of those with a lot of…
DetailsBy Simon ReadPersonal finance reporter image copyrightGetty Images Half a million renters could lose their home without financial help, debt charities, lenders and landlords have warned. These renters are under pressure from debt they’ve built up since the pandemic. A group of organisations has asked the government for a targeted support package to help struggling…
DetailsA former PPB Advisory partner who was found to have provided fabricated documents to ASIC has now had his liquidator registration suspended. The Supreme Court of South Australia has decided to suspend Peter Ivan Macks liquidator registration for a period of three years, commencing once Justice Jeremy Doyle hands down final orders. The penalty decision…
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