Due to the coronavirus many otherwise economically viable businesses are experiencing significant trading difficulties [] this bill is aimed at ensuring businesses can maximise their chance of survival. This is the policy background to the Corporate Insolvency and Governance Bill now making its way quickly through parliament and which will impact on construction contracts. The…
DetailsThe UK Corporate Insolvency and Governance Bill, currently progressing through UK Parliament, will have an impact on various stakeholders in the aviation industry once enacted, due to its moratorium, supply contract, and restructuring plan provisions. KEY FEATURES The UK Corporate Insolvency and Governance Bill has three key features: Moratorium: A new moratorium for companies in…
DetailsFacts Decision Comment The High Court has issued an important reminder of the need for solid evidence of a real risk that a respondent will take steps to dissipate their assets to frustrate a judgment in applications to continue a worldwide freezing order (WFO). Evidence of dishonesty alone is not enough, and conduct falling short…
DetailsJune 15, 2020 07:00 ET | Source: African Gold Group, Inc. Danny Callow appointed as President and Chief Executive Officer; Scott Eldridge appointed as Non-Executive Chairman of the Board; Jan-Erik Back appointed as Vice-Chairman, Strategy of the Board; John Begeman appointed as Lead Independent Director of the Board; and Proposed change of name to Avion2…
DetailsMonday, June 15, 2020 Part One The Corporate Insolvency and Governance Bill (the Bill) is passing through parliament at the moment. Some of the measures included in the Bill are in response to the current pandemic and will provide temporary easements for company directors from an acute economic downturn. Other measures have been under consideration…
DetailsThe High Court in Ireland has granted a restriction order against the directors of an insolvent company, Winning Ways Ltd. The order was requested by the liquidator of the business at the request of the Office of the Director of Corporate Enforcement (ODCE). The judgment confirms that the onus is on directors to prove that…
DetailsThe European Court of Justice (ECJ) June 11 issued a preliminary ruling for Case No. C-146/19, stating that EU principles under the common VAT system prevent the Slovenian denial of a reduction of the VAT base for an insolvent company. A taxpayer filed for insolvency, and after the bankruptcy concluded a Slovenian tax agency audit…
DetailsJune 15, 2020 00:01 ET | Source: African Gold Group, Inc. Danny Callow appointed as President and Chief Executive Officer; Scott Eldridge appointed as Non-Executive Chairman of the Board; Jan-Erik Back appointed as Vice-Chairman, Strategy of the Board; John Begeman appointed as Lead Independent Director of the Board; and Proposed change of name to Avion2…
DetailsExtraction Oil & Gas, whose share price soared threefold during a frenzy of buying last week, declared bankruptcy late on Sunday, making the large US shale producer the latest victim of the worst oil-price crash in decades. The Denver-based company filed for Chapter 11 protection as a 30-day grace period on a bond interest payment…
DetailsDad Abid Elahi turned to dealing cannabis after racking up 30,000 of gambling debts. The 37-year-old was found with a large amount of drugs packaged in various weights at his Shelton home. He refused to answer any questions in his police interview, but his fingerprints were found on the packaging. Now Elahi has been sentenced…
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