Insolvency regulator IBBI and the government are expected to go all out to defend the legal validity of the IBC provisions on personal insolvency against personal guarantors to corporate debtors, when the current matters on legal challenges come next before the Delhi High Court on October 6. Some personal guarantors who are in the dock…
DetailsA filing made to the Securities and Exchange Commission today has confirmed holders of stock in Yingli Green Energy Holding Co Ltd will be left empty-handed some time around the end of the month. September 24, 2020 Max Hall Shareholders have heard the news they have long expected. Image: geralt/Pixabay Shareholders in the parent company…
DetailsNews story Measures from the Corporate Insolvency and Governance Act extended to relieve pressure on businesses dealing with coronavirus. Measures put in place to protect businesses from insolvency will be extended to continue giving them much-needed breathing space during the coronavirus (COVID-19) pandemic, the government announced today (24 September). A raft of changes to protect…
DetailsAustralia is in the grip of a new wave of tax evasion and money laundering allegedly orchestrated by unscrupulous firms of professional advisers, including accountants. The schemes involve phoenixing the art of liquidating a company and allowing the directors to rise from the ashes in a new entity, free of debts and prior to the…
DetailsThroughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 51 bankruptcies in week 38. This is 8 up on the previous week. In addition, 7 sole proprietorships were declared…
DetailsThe tennis champion Boris Becker has denied a string of criminal charges over his bankruptcy as he was told he could face seven years in jail. The German former tennis star, 52, who was declared bankrupt in June 2017, is accused of not complying with obligations to disclose information. Becker, who was smartly dressed in…
DetailsLiberal Party of Australia Small business has been hit hard by COVID-19. Health restrictions forced many small businesses to close their doors, while others have managed to stay open, albeit with significantly less foot traffic through their store. Meanwhile, bills rack up, be it for energy, insurance, rent or interest on a loan all of…
DetailsDebt and rent moratoria or deferrals, potentially subsidized by taxpayers, are among a range of policies that could help small businesses avoid unnecessary failures because of the COVID-19 recession, suggests a paper to be discussed at the Brookings Papers on Economic Activity (BPEA) conference on September 24. Restructuring subsidies and payment deferrals are options that…
DetailsMichael Brown Published 10:53 p.m. ET Sept. 23, 2020 In the United States, the outstanding student loan debt balance has swelled to $1.67 trillion, and the situation is only getting worse in most parts of the country. But, Michigan is bucking that trend according to the latest data. LendEDU recently published our fifth annual Student…
DetailsNew Delhi, Sep 23 (PTI) The Delhi High Court has asked the Centre and the IBBI to respond to a plea by former chairman of Bhushan Power and Steel Ltd (BPSL) Sanjay Singal, challenging the provisions on personal insolvency proceedings against guarantors of corporate debtors.A bench of Chief Justice D N Patel and Justice Prateek…
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