COVID-19: UK Insolvency Reform – Standardising Company Voluntary Arrrangement Proposals – JD Supra

Bankruptcy

EXECUTIVE SUMMARY R3 Association of Business Recovery Professionals (R3), a trade association for the United Kingdoms insolvency and restructuring industry, has launched a standard form proposal (Standard Form) for company voluntary arrangements (CVAs). A CVA is a contractual arrangement between a financially distressed company and its creditors. The Standard Form has been drafted in consultation…

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Guidelines for Simplified Enterprise Deregistration Procedure in China – China Briefing

Liquidation

By Fanny Zhang, Business Advisory Services, Dezan Shira & Associates Beijing Office In order to further improve the efficiency of social resources utilization, reduce the exit cost of market entities, optimize the business environment, and continue to stimulate market vitality, China has continuously promoted reforms to its system of enterprise deregistration. As the COVID-19 pandemic…

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COVID-19 UK Insolvency – Voluntary Arrangement Proposals – The National Law Review

Bankruptcy

Tuesday, November 3, 2020 Executive Summary R3 Association of Business Recovery Professionals (R3), a trade association for the United Kingdoms insolvency and restructuring industry, has launched a standard form proposal (Standard Form) for company voluntary arrangements (CVAs). A CVA is a contractual arrangement between a financially distressed company and its creditors. The Standard Form has…

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Decommissioning crisis clouds oil M&A outlook – The Australian Financial Review

Liquidation

“The department is continuing its work on the wider decommissioning review including the recommendations and findings of the Independent Review into the Circumstances leading to the Administration and Liquidation of the Northern Oil and Gas Australia (the Walker Review),” Mr Pitt told The Australian Financial Review. He said the department intends to publicly consult on…

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57 Lithgow jobs saved as business rescue package protects Fairview workers – Lithgow Mercury

Liquidation

Staff at Lithgow company Fairview got good news last week, after Creditors endorsed a business rescue package for the firm. In recent months, the business had entered voluntary administration after some challenging commercial headwinds. The highlights of the recommended business rescue package include: At a meeting trade creditors voted overwhelmingly to accept the independent resolution…

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AFSA sounds dodgy advisor warning ahead of insolvency wave – AccountantsDaily

Bankruptcy

The Australian Financial Security Authority has issued a warning around dodgy insolvency advisors ahead of an anticipated spike of bankruptcies. The personal insolvency regulator has now launched a public campaign to raise awareness on the prevalence of dodgy insolvency advisors and tell-tale signs for the public to look out for. The Australian Financial Security Authoritys…

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Japanese apparel maker Renown to enter liquidation as virus hits sales – The Japan Times

Liquidation

Japanese apparel maker Renown Inc., which had sought court protection to revive its century-old business, will go into liquidation amid plunging sales due to the novel coronavirus pandemic, its lawyers said Monday. The Tokyo District Court last Friday decided to discontinue court protection after a sponsor could not be found. The liquidation procedure is expected…

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