Introduction Ordinary moratorium COVID-19 moratorium Introduction A moratorium under the Debt Enforcement and Bankruptcy Act is a standstill period granted by a court for a company going through financial hardship to assess whether it can enter composition proceedings or go bankrupt. Originally, unlike in other jurisdictions, the purpose of a moratorium in Switzerland was not…
DetailsPersonal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. A personal loan can be a helpful tool for consolidating and paying off credit-card debt.…
DetailsCalisen announced plans for a restructuring of its Lowri Beck business unit on Thursday, in a bid to make it a leaner, more efficient and sustainable business. The London-listed firm described Lowri Beck as a capability-enhancing acquisition, which it made last August, to enable it to provide meter installation services to the growing independent energy…
DetailsProvisional liquidators of South African regional carrier SA Express are attempting to find a buyer for the airline, claiming that they are engaging with six or seven parties which have expressed interest in the company. Their effort follows court approval on 15 June to extend their powers, in order to explore the possibility of attracting…
DetailsProsecutors announced on Wednesday that eight suspects were arrested for their role in siphoning over US$157 million out of VBS Bank, a publicly owned lender that primarily provides mortgages and short-term loans to low-income South Africans. Head of the National Prosecuting Authority Shamila Batohi announced on Wednesday that 8 individuals were arrested in connection with…
DetailsNORTHERN EXPOSURE NORTH Lakes, north of Brisbane, has emerged as one of Australia’s worst bankruptcy hot spots. According to figures from the Australian Financial Security Authority, the suburb in the heart of Brisbane’s mortgage belt had the highest per capita number of personal insolvencies at the end of March. The percentage was 0.096 per cent,…
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 54 bankruptcies in week 24. This is 10 down on the previous week. In addition, 6 sole proprietorships were declared…
DetailsPrior to the March sell off this year, our flagship fund held almost 30 per cent in cash and our small companies fund held more than 40 per cent in cash. In December/January the ASX200 Industrials Index was trading at a record 26 times 12-month forward earnings. At the same time, one-year-forward earnings estimates had…
DetailsBanks poised to extend assistance Prolonged relief measures likely A customer is screened for Covid-19 at an SCB branch. Corporate demand for bank loans remains strong as they want to lock in cheap costs. Banks are set to extend the deadline for their relief measures to virus-affected customers after the three-month blanket debt holiday lapses…
DetailsCOVID Fallout: Provincial government moves to mediate debt-relief for Phuket businesses PHUKET: The Phuket Provincial Government is calling for financial institutions to discuss terms for repayment of outstanding debts among local businesses as many are suffering heavily from the fallout of the COVID-19 lockdown provisions. Financial institutions, including banks and non-banks, were invited to discuss…
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