Chinese private shipyard Taizhou Kouan Shipbuilding has emerged from bankruptcy after new investors took control of the yard. The yard entered into a court-led restructuring after it was declared bankrupt by a local court in August due to a financial crisis. Two local companies, Taizhou Changqin Ship Engineering and Taizhou Changyue Enterprise Management, have taken…
DetailsThe federal government has passed legislation to simplify the liquidation and winding up processes for small businesses. The parliament passed reforms to the Corporations Act 2001 and the Bankruptcy Act 1966 to establish a debt restructuring process for eligible small businesses and provide temporary relief for those seeking to enter the process, as well as…
DetailsHrdlicka moved to Australia in 1994 following stints at other US corporates and rejoined Bain’s local consulting arm in 1997. Her first client? A young Ansett executive named Alan Joyce. The pair’s professional relationship continued when Joyce moved to Qantas, and Joyce eventually hired Hrdlicka in 2010 as the Flying Kangaroo’s Group Executive of Strategy…
DetailsLaw360, London (December 10, 2020, 2:13 PM GMT) — Nearly a quarter of workplace saving schemes for the U.K.’s top companies expect to see their sponsors collapse before they fully insure all liabilities, as the U.K. is braced for a wave of high street insolvencies in the New Year. Pensions consultancy Hymans Robertson said Wednesday…
DetailsSPANISH bankruptcy law, in relation to insolvency and elimination of debts, stipulates that there are a number of actions which are unacceptable and which if proven can negate the insolvency process. Guilty Insolvency — Advertisement — If a bankruptcy is declared guilty, it means that it is understood that the bankrupt or insolvent is responsible…
DetailsThe company expects improvement in the asset portfolio quality as well as cash flow of the company, due to various strategic initiatives including measures for recovery were initiated during FY20 TopicsIFCI|Buzzing stocks|Markets SI Reporter | Mumbai Last Updated at December 10, 2020 15:29 IST Shares of IFCI hit a 52-week high at Rs 10.75 on…
DetailsJacob Klein After many attempts by the company to stave it off, Insight Terminal Solutions (ITS) has been declared bankrupt in a Kentrucky court. ITS had been at the helm of the effort to store and transport coal through the old Oakland Army Base for years now. John Siegel, CEO of the now bankrupt ITS,…
DetailsWhat are the main Jersey insolvency procedures for a Jersey company? What is the effect of commencement of Jersey insolvency procedures? What are the powers of the liquidators or the viscount? What transactions can be set aside? How are assets distributed on a creditors’ winding up or dsastre? Insolvency and Jersey trusts Insolvency and Jersey…
DetailsAlmost a quarter (22 per cent) of FTSE 350 defined benefit (DB) schemes with rated sponsors face a 50 per cent chance of corporate insolvency before they reach buyout, according to analysis from Hymans Robertson. The analysis, which was part of the companys annual FTSE 350 DB Report, added that almost half of schemes (43…
DetailsThe search for Christmas stocking stuffers is well and truly afoot. For those who leave Christmas shopping until the last minute or have the chore of buying for a fussy loved one, gift cards are usually an ideal solution. Consumer group Choice says our obsession with gift card-giving sees Australians spend roughly $2.5 billion on…
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