Michael McGrath, Fianna Fáil’s finance spokesperson, has introduced legislation that will give borrowers the right to appeal a banks veto over a Personal Insolvency Arrangement. Fianna Fáils Personal Insolvency (Amendment) Bill 2017 has been drafted in response to a September decision from the Circuit Court that decided that the borrower has no such legal authority.…
DetailsWith rising number of cases under the Insolvency and Bankruptcy Code, the government has set up a 14-member panel to identify and suggest ways to address issues faced in implementation of the law. The Insolvency Law Committee, chaired by Corporate Affairs Secretary Injeti Srinivas, would take stock of the implementation of the Code, according to…
DetailsBoris Becker says he doesn’t feel German any more and wants to be buried in his “home” – Wimbledon. The three-time Wimbledon champ, who was this year declared bankrupt, was born and raised in Leiman, Germany, but has lived in London for several years. He currently lives just 2,300 steps away from the All England…
DetailsST. PAUL, Minn.–(BUSINESS WIRE)–Patterson Companies, Inc. (Nasdaq: PDCO) today reported consolidated net sales of $1.4 billion (see attached Sales Summary for further details) in its fiscal second quarter ended October 28, 2017, a decline of 2.3 percent compared to the same period last year. Adjusting for the effects of currency translation, sales declined 2.8 percent,…
DetailsOne of Zetta Jets lessors and customers will provide up to $8.5 million in loans to help it restructure and exit Chapter 11 bankruptcy protection. The loan has been provided by Scout Aviation, a lessor, owned by financier Nathanial Rothschild. Scout is now officially known as a stalking-horse bidder and will compete against other companies…
DetailsWorld Rugby has denied a claim by the Samoan Rugby Union (SRU) that they are bankrupt and have promised to continue to back development of the sport in the Pacific Islands. Samoan rugby was declared bankrupt by Prime Minister and SRU chairman Tuila’epa Sailele Malielegaoi before the team faced Scotland on Saturday (November 11). However…
DetailsOXFORD East MP Anneliese Dodds has backed Citizens Advice Oxfords campaign to stop residents getting mired in debt despite temptations from Black Friday this week followed by Christmas. The charity is encouraging people to think carefully about how they will spend before they start their Christmas shopping, while Black Friday, when retailers traditionally bring in…
DetailsOn 07 November 2017, the Insolvency and Bankruptcy Board of India (IBBI) amended: (A) The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) and (B) The Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 (Fast Track CIRP Regulations), issued…
DetailsSHANGHAI China Huishan Dairy Holdings, the Hong Kong-listed firm targeted by short sellers, including Muddy Waters Capital, is preparing for provisional liquidation in a move that could protect its assets as it negotiates with creditors. The firm had told its Cayman legal advisers to make the preparations, it said in a Hong Kong stock exchange…
DetailsATM operator Stargroup, which had plans to convert its some of its machines to digital currency Bitcoin, is trading as normal despite going into administration. This week Richard Tucker and John Bumbak of insolvency experts KordaMentha Restructuring were appointed as receivers and managers. The companys latest annual report showed debt of $9.1 million. Today Goldfields…
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