Association of Insolvency and Restructuring Advisors Announces 8 CIRA Certification Awards – PRNewswire

Restructuring

MEDFORD, Ore., Jan. 18, 2021 Rendering financial advisory services in the business turnaround, restructuring and bankruptcy practice areas requires both special knowledge and extensive relevant experience. In 1992, the AIRA established the Certified Insolvency and Restructuring Advisor (CIRA) program to recognize by public awareness and certification those individuals who possess a high degree of knowledge…

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December 2020 corporate and individual insolvency statistics R3 response – Bdaily

Bankruptcy

Member Article Corporate insolvencies increased by 37.8% to 1,228 in December 2020 compared to Novembers figure of 891, and were 9.2% higher than December 2019s figure of 1,125. Personal insolvencies increased by 2% to 9,518 in December 2020 compared to Novembers figure of 9,328, and were 13.4% higher than December 2019s figure of 8,391. Eleanor…

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Delhi HC issues notice on petition challenging Insolvency and Bankruptcy Code 2016 – India Legal

Bankruptcy

The Delhi High Court on Monday issued notice in a petition challenging Section 10A of the Insolvency and Bankruptcy Code 2016. The petition was filed by Getamber Anand, the Chairman and Managing Director of the ATS Group, through Advocate Kartik Nayar, KN LEGAL, Advocates and Solicitors. On December 2020, the petitioner received a notice from…

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Workers of Egypt’s Iron and Steel Company protest against liquidation – Middle East Monitor

Liquidation

Egypt’s Iron and Steel Company workers in the country’s Helwan city organised a protest on Sunday at the company’s headquarters, against a recent decision to liquidate the state-owned organisation. The protestors called on the government to intervene to stop the liquidation move, which they told Youm7 would displace some 8,000 employees. They also demanded the…

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Developer linked to Liverpool’s stalled sites made bankrupt – Liverpool Echo

Bankruptcy

A property developer linked to a number of stalled developments in Liverpool has been declared bankrupt. Kerry Tomlinson, 52, a well known figure in Liverpool’s property sector, was the director of Primesite Developments. The company was behind a number of ambitious property schemes but went into liquidation last March. In recent years Mr Tomlinson has…

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Can IBC override existing contracts? Why giving primacy to insolvency law may set a wrong precedent – Economic Times

Liquidation

In a recent judgement which could have wide-reaching ramifications, the National Company Law Appellate Tribunal (NCLAT) upheld the order of the National Company Law Tribunal (NCLT) that set aside termination of a power purchase agreement (PPA) between the corporate debtor, Lanco and the Gujarat distribution licensee, GUVNL. It held that the Insolvency and Bankruptcy Code,…

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Attorney-General floats bankruptcy changes, tougher sanctions against untrustworthy advisers – AccountantsDaily

Bankruptcy

Business Changes to the personal insolvency system, including reducing the default period of bankruptcy from three years to one year and tougher sanctions against dodgy advisers, have now been floated by the government. Business Jotham Lian 18 January 2021 1 minute read object(stdClass)#17022 (8) { [“image_intro”]=> string(65) “images/articleimages-391×261/850×492/Parliament-house-new1-ad.jpg” [“float_intro”]=> string(0) “” [“image_intro_alt”]=> string(42) “Attorney-General floats…

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Liquidation of the Egyptian Iron and Steel Company should come only after careful study, MPs say – Politics – Egypt – Ahram Online

Liquidation

In a statement issued on Saturday, the Egyptian parliament’s industrial committee said that the government’s decision to liquidate the 67-year-old Egyptian Iron and Steel Company should be a matter of careful study. “The liquidation process should be based on a logical review of the company’s performance in terms of losses and profits in the last…

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