Bench took decision after banks from whom the ex-IAS officer took loan objected to the pleaThe Ahmedabad bench of National Company Law Tribunal has rejected a petition filed by former IAS officer Sanjay Gupta to put up one of his group companies in liquidation under the bankruptcy law. The bench took the decision after the…
DetailsBain Capitals acquisition of Virgin Australia Holdings (VAH) is on track for October completion, administrator Deloitte has indicated in a letter to creditors and employees. Creditors had on 4 September accepted a proposal that is structured around 10 deeds of company arrangement (DOCAs) for all 41 VAH entities in voluntary administration. I confirm the DOCAs…
DetailsAhead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator. They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called regulatory shield) that expires…
DetailsFailure to make provision for your debt in your estate plan can leave your loved ones financially compromised. Making provision for the debt in your estate is an important part of estate planning, and failure to do so can leave your surviving spouse and/or heirs financially compromised. Assets that you had intended to bequeath to…
DetailsAs catalogued in Julys Economic and Fiscal Update, and the recent June quarter national accounts, the costs have been enormous: thousands of businesses destroyed; over a million workers made unemployed or idle; the largest post-War quarterly fall in output; and $280 billion of additional net public debt by mid-2021, just federally. That is largely water…
DetailsMonday, 28 September 2020, 1:12 pmPress Release: Minter Ellison Rudd Watts The Supreme Court last Thursday released its long awaited decision on directors duties engaged on a companys insolvency Debut Homes Limited (in liquidation) v Cooper [2020] NZSC 100. The decision has profound implications for directors confronted with a business experiencing material financial distress and…
DetailsThanks for reading! Log in to continue. Enjoy more articles by logging in or creating a free account. No credit card required. Can you honestly say that gambling is good for a community? Is it wholesome entertainment? What often comes with it drinking, crime and other things? Is this Bristols vision for the solution to…
DetailsSteve Ramsey gets his feet repaired at The Hawthorns At the peak of his addiction, Steve Ramsey was placing 500 bets on football a day. “It was the in-play betting that did me over,” he says, shortly after leaving Wolverhampton Wanderers’ Molineux ground on a 130-mile walk this week to highlight football’s relationship with gambling.…
DetailsBy Davide Barbuscia DUBAI (Reuters) – Turnaround and restructuring firm AlixPartners is boosting its headcount in the Middle East as corporates seek to cut costs and restructure debt amid the double shock of low oil prices and the coronavirus pandemic. The New York-headquartered firm has recently hired six people in Dubai from one of its…
DetailsBy Davide Barbuscia DUBAI (Reuters) – Turnaround and restructuring firm AlixPartners is boosting its headcount in the Middle East as corporates seek to cut costs and restructure debt amid the double shock of low oil prices and the coronavirus pandemic. The New York-headquartered firm has recently hired six people in Dubai from one of its…
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