Corporate Insolvency and Governance Law 2020: COVID-19 Changes to Insolvency Law Come into Force Many businesses are relentlessly fighting the financial crunch resulted from Covid-19 crisis to survive the economic scare. The current COVID-19 pandemic has placed a lot of businesses registered in England and Wales into a position where they are now either balance…
DetailsPhoto courtesy of Le Pain Quotidien The pandemic hasnt been good to the restaurant industry and the result has affected a wide range of concepts, from child-focused chains such as Chuck E. Cheese to urban bakery/caf concepts like Le Pain Quotidien. But most them have something in common: They were not necessarily prepared for the…
DetailsA MAN who kidnapped a 12-year-old Mudgeeraba boy from his home in May 2018 has admitted to his part in the plot. The charges against a second man alleged to be involved in a kidnapping were dropped. Zhenjie (Kenny) Zhang, 54, pleaded guilty in the Southport District Court on Monday to kidnapping in May 2018…
DetailsBy Andrea Shalal 3 Min Read WASHINGTON (Reuters) – The head of the International Monetary Fund on Sunday called for significant steps to address the increasingly unsustainable debt burdens of some countries, urging creditors and debtors to start restructuring processes sooner rather than later. Slideshow ( 2 images ) IMF Managing Director Kristalina Georgieva said…
DetailsFor tens of thousands of airline workers that have either lost their jobs or have been stood down because of international travel bans imposed due to the COVID-19 pandemic, finding new work has not been easy. Key points: Thousands of Qantas and Virgin workers have lost their jobs, and many are still looking for work…
DetailsA month-on-month rise in the number of corporate insolvencies in England and Wales may indicate that businesses which were healthy and profitable pre-COVID-19 are now starting to struggle. This is according to the Midlands branch of insolvency and restructuring trade body R3 and comes on the back of figures published by the Governments Insolvency Service…
DetailsA YOUNG man who gambled away 100,000 has launched an initiative to stop other people going down a similar dangerous path. Paul Pettigrew says he lost four years of his life squandering away wages, student loans and money borrowed from loved ones – landing himself in a staggering 28,000 worth of debt. After placing his…
DetailsDubai Financial Market-listed Arabtec Holding, which confirmed going into liquidation, due to its untenable financial situation, has revealed that its general assembly has adopted a Special Resolution for the discontinuation of the company, and to authorise its board to apply to the competent court for an insolvent liquidation. In a stock market filing dated 14…
DetailsA bankrupt gym and construction entrepreneur previously involved in several collapsed companies is being chased by a number of Brisbane tradespeople and businesses who claim they are owed thousands of dollars for work on Fit Village facility in the suburb of Paddington. Jacob Jake Henley, described as the founder of Fit Village also appeared in…
DetailsThe World Bank has warned that the coronavirus outbreak is turning into a major economic crisis and could likely see the emergence of a financial crisis from the pandemic. This disclosure was made by the World Bank Chief Economist, Carmen Reinhart, during an interview with Bloomberg Television. Reinhart during the interview said, This did not…
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