Supreme Court says Delhi High Court can take up issue on October 6 and state-owned lender can also seek removal or modification of stay order In a relief to Reliance Group Chairman Anil Ambani, the Supreme Court has dismissed State Bank of India’s plea seeking vacation of stay on personal insolvency and bankruptcy proceedings against…
DetailsThe liquidation of Elite Insurance has left 60,000 private and professional clients in France without construction insurance as of September 15, 2020. French authorities have said claims not processed by this date are not eligible for compensation as contracts have ceased. The administration of Elite Insurance has been managed by PricewaterhouseCoopers, who confirmed in February…
DetailsBy Andrie Kypridemo As if the haircut on deposits required for the bail-in of banks in March 2013, and the credit constraints that brought Cyprus businesses to their knees, werent enough, just 7 years after another black March dawned further financial constraints came from Covid-19 measures. Having reduced their operations to the very minimum or…
DetailsMarion van Dijk/Stuff Nevil Basalaj, director of liquidated company Nelson Reliance Engineering, has been ordered to pay Inland Revenue reparations, after the company failed to pay $491,000 PAYE and related taxes. Businesses owed more than $4m from a Nelson company, whose director has been sentenced for tax default, are frustrated they dont know what has…
DetailsA SEEMINGLY straightforward voluntary liquidation of a multimillion-dollar Toowoomba civil construction business has gone pear-shaped. Hotshot Transport Queensland Pty Ltd, which traded as HTQ Civil Pipe Mining, was placed in a member’s voluntary liquidation on June 30 and Adam Ward of Worrells Solvency and Forensic Accountants was appointed liquidator. Before placing the company in liquidation,…
DetailsUNIVERSITY students with a HECS debt could soon flood to Bowen farms in a scheme backed by a peak farming body and a federal parliamentary committee. The Joint Standing Committee on Migration made the recommendation on Tuesday that university students and recent graduates should be given a HECS debt discount to encourage them to pick…
DetailsJulien Mattia/Le Pictorium/picture-alliance/dpa/MAXPPP David Malpass and Emmanuel Macron have spoken out in favour of debt leniency. This picture was taken in May 2019 in Paris. Low-income countries require support to cope with the Covid-19 pandemic. The international community has responded with intensified lending, debt suspension and even calls for debt cancellation. Money, however, is not…
DetailsPhoto by Sam Mgrdichian on Unsplash If youre one of the many Australians who cut down their credit card debt during coronavirus, you need to also make sure you keep it off when things go back to normal. For years, credit card debt has been a problem for many Australians. Back in 2017, an ASIC…
DetailsFox News Media said that it was restructuring some of its divisions, with a reduction of its workforce by less than 3%. As Fox News Media has evolved into a streamlined multi-platform organization, we are realigning several functions and restructuring various divisions in order to position all of our businesses for ongoing success, the network…
DetailsWednesday, September 16, 2020 As we discussed in ourprevious blog relating to the Supplier of Last Resort Process, energy company insolvencies bring with them a range of different processes and requirements which other companies do not need to consider. In particular, the involvement of the Secretary of State and the Gas and Electricity Markets Authority…
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