NEW YORK (PRWEB) October 05, 2020 Morrison & Foerster, a leading global law firm, is pleased to announce that Theresa Foudy has joined the firm as a partner in its Business Restructuring + Insolvency Group (BRIG) in New York. Recognized as one of the leading bankruptcy litigators in the United States, Ms. Foudys arrival further…
DetailsThe diocese of Camden in New Jersey has become the second diocese in the United States to file for bankruptcy last week. Bishop Dennis Sullivan of Camden announced the decision on Oct 1 and said new abuse lawsuits and the $8 million in payouts had forced the diocese to file for bankruptcy. I take some…
DetailsBorrowers in mortgage arrears to gain vital court protection Published 5 October 2020 Helen McEntee Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain vital court protection under new legislation announced today. Justice Minister Helen McEntee has secured government approval for priority drafting of the short but urgent Personal…
DetailsWith individual insolvency now identified as IBBIs next big reform area, the insolvency regulator has decided to appoint an external institution or an agency for undertaking a research study on individual indebtedness and insolvency. This external agency once selected by IBBI will have a maximum of one year to complete the research report. Insolvency and…
DetailsEconomy State moves to seize SK Macharia assets in bankruptcy order Monday October 05 2020 Businessman SK Macharia. FILE PHOTO | NMG By OTIATO GUGUYUMore by this Author Summary The High Court in 2001 ordered Mr Macharia to repay the debt with an annual interest of 19 per cent that is compounded monthly from December…
Details2020 has seen tens of thousands of jobs and companies on the brink of collapse. In response to a wave of insolvencies expected at the end of the year, the Federal Government has announced a new set of insolvency laws to help small businesses either restructure or fold. 2020 has seen tens of thousands of…
DetailsKhao San Road businesses were forced to close because of the Covid-19 pandemic, which damaged the business environment nationwide.Apichart Jinakul Fears of a debt tsunami are amplifying with debt relief measures by the Bank of Thailand set to expire later this month. Suffering businesses are urging an extension to avoid shouldering a mountain of debt…
DetailsBy Reuters Staff 2 Min Read FILE PHOTO: World Bank President David Malpass responds to a question from a reporter during an opening press conference at the IMF and World Bank’s 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike Theiler BERLIN (Reuters) – The COVID-19 pandemic…
DetailsLiquidator Nicholas Crouch, who advised the small business ombudsmans insolvency review earlier this year, likens it to doing a 10-year apprenticeship. You must have the smartest mind on the job for the strategic plan otherwise mistakes happen and those mistakes are borne by the mums and dads in this environment, the small business owner, he…
DetailsDUBAI : AE construction giant that built the world’s tallest building the Burj Khalifa, Arabtec formally announced that it was going into liquidation after stakeholders found the financial situation “untenable”. “In recent years, limited liquidity in the construction sector impacted the progress of Arabtec’s projects and this has been exacerbated by the effects of COVID-19,”…
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