The High Court has declined to approve a Personal Insolvency Arrangement that would have allowed a car sales executive write off about 190,000 in debts, mainly owed to financial institutions. The PIA was sought in respect of Keith Cremin, Subulter, Cecilstown, Mallow, Co Cork. He owed money to Pepper Finance Corporation DAC, which opposed the…
DetailsThe 2020 pandemic sent many businesses scrambling to protect their employees and pivot their operations to retain their customers. This crisis presented more challenges and opportunities over the course of a few months than most businesses see in a decade. While many managed to stabilize their business through these efforts, a select group were able…
DetailsStruggling seismic player Polarcus, which last week saw creditors take over its vessels following a debt payment default, on Tuesday said a Cayman Islands court has appointed joint provisional liquidators, after the company’s application. “The Board remains focused on pursuing a restructuring of its indebtedness and maintaining the underlying business as a going concern. Discussions…
DetailsIn 2021, businesses must move quickly to recover debts, particularly at this time of year when the sum of debtors may be larger than they can manage for the purposes of their cashflow. Over the next three years, Deloitte is forecasting that 5,300 Australian companies (which otherwise would have col In 2021, businesses must move…
DetailsMoney mistakes happen all the time and you’re not alone if you have a few financial regrets of your own. In fact, a 2019 study by Finder.com found that an estimated 126.5 million American adults admit to having made a money mistake at least once in their lifetime. While money mistakes are arguably subjective you…
DetailsAG Jennings Consumer Protection Unit files Action Against Unlicensed Debt-Management Services Company – State of Delaware News Read the latest news on coronavirus in Delaware. More Info NEWS FEED AG Jennings Consumer Protection Unit files Action Against Unlicensed Debt-Management Services CompanyDate Posted: February 8, 2021 Governor Carney Signs Unemployment Tax Relief LegislationDate Posted: February 8,…
DetailsTemporary insolvency relief measures introduced in March last year as part of the governments COVID response ended last month but there is more change in store for the bankruptcy system. Attorney-General Christian Porter has released a discussion paper, outlining a range of possible permanent changes to the system. Following the end of the temporary measures:…
DetailsTwo-thirds of GVP shareholders voted against continuation of the trust in July Associated Capital Group has claimed a vote to liquidate the Gabelli Value Plus+ Trust (GVP) would be short-sighted, as it confirmed it would abstain from voting on whether the trust should be discontinued and, ultimately, liquidated. The GVP board announced on Monday (8…
DetailsIn the process of recovering the Cachar and Nagaon paper mills, the National Companys Law Tribunal (NCLT) has postponed their hearing 8 times till now. Next hearing is scheduled for Tuesday, but the government is yet to come up with a plan or proposal to recover the two paper mills. On September 10 last year,…
DetailsThe decision will provide greater clarity for companies and insolvency practitioners seeking to implement restructuring plans under Part 26A of the Companies Act 2006. A restructuring plan is a new form of restructuring tool introduced in June 2020 by the introduction into law of the Corporate Insolvency and Governance Act. This is only the third…
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