SINGAPORE – Small and micro companies that have been hit hard by the Covid-19 pandemic and need to restructure their debts to stay viable or wind up their businesses can apply for support to do so under a new programme from Friday (Jan 29). Applications for the Simplified Insolvency Programme (SIP) will be open until…
DetailsNelson Loh, co-founder of the Bellagraph Nova spotlighted for a series of false claims including doctored photos with ex-U.S. President Barack Obama has been judicially declared bankrupt after DBS commenced proceedings against him over outstanding debt. Nelson Loh was adjudged a bankrupt, according to a Business Times report citing Singapore High Court documents, over S$14.2…
DetailsSantander’s Madrid HQ Glenn Maud, an investor who during the last boom bought some of the worlds most expensive buildings, has been declared bankrupt after losing a near seven-year court battle. Maud was declared bankrupt in November following a petition lodged in 2014 from Libyas sovereign wealth fund, anotice from the High Court of Justiceshows.…
DetailsWASHINGTON, Jan. 27, 2021 Due to the national public health emergency caused by coronavirus disease 2019 (COVID-19), the U.S. Department of Agriculture today announced the temporary suspension of past-due debt collections and foreclosures for distressed borrowers under the Farm Storage Facility Loan and the Direct Farm Loan programs administered by the Farm Service Agency (FSA).…
DetailsLaw360, London (January 27, 2021, 5:30 PM GMT) — Since the coronavirus pandemic hit the U.K. in March last year, legislative protections and government packages have helped keep at bay the massive wave of corporate insolvencies that had been expected. But the economic support has to come to an end at some point, and lawyers…
DetailsBrisbane Times takes a look back at how the virus spread through Queensland, and some of the states near misses. January 2020 January 9: The World Health Organisation releases a statement regarding cluster of pneumonia cases in Wuhan. The WHO does not recommend any specific measures for travellers. January 11: China reports the first death.…
DetailsASIC has today released Consultation Paper 337 Externally administered companies: Extending financial reporting and AGM relief (CP 337) seeking feedback on proposals to reduce the regulatory burden for externally administered companies. ASIC is proposing to expand the relief in ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251 (LI 2015/251) to companies where a voluntary administrator, controller or…
DetailsLaw360, London (January 27, 2021, 5:30 PM GMT) — Since the coronavirus pandemic hit the U.K. in March last year, legislative protections and government packages have helped keep at bay the massive wave of corporate insolvencies that had been expected. But the economic support has to come to an end at some point, and lawyers…
DetailsThese rules, which absolved directors from personal liability if their businesses traded while insolvent, have been replaced by legislation that includes a new, streamlined SME restructuring process that came into force on 1 January. As of that date, a company with debts due and payable, that they cannot pay, is technically insolvent and its directors…
DetailsThe celebrities are the brand ambassadors of online rummy games. The Kerala High Court on Wednesday issued notice to Indian cricket team captain Virat Kohli and the state government in a plea seeking ban on online gambling in the state. Besides Kohli, a division bench, headed by Chief Justice S. Manikumar, also issued notices to…
Details