1 December, 2016 Ever since the Insolvency and Bankruptcy Code, 2016 (IBC) was passed by Parliament, the Ministry of Corporate Affairs (MCA) has been notifying portions of the IBC selectively as and when supporting infrastructure was created. Set out below are some of the major provisions of the IBC, the related Central Government Rules and…
DetailsWith the phasing out of the SICA, the Government is all set to usher in the new Insolvency & Bankruptcy Code (Code). Several parts of the Code are gradually being notified in a phased manner, and the insolvency resolution process is now in place. In November, the rules relating to Insolvency Professionals (IPs) and Insolvency…
DetailsNew research from the Grattan Institute reveals the degrees that could leave you jobless. You may have to pay more for your university degree. YOU could be stuck paying more for your university degree, which are becoming more and more useless in todays job market. The Grattan Institutes higher education program director Andrew Norton wants…
DetailsIMPORTANT changes to insolvency legislation have come into effect in Northern Ireland, in which the monetary threshold required to seek a bankruptcy order has soared from just £750 to a new level of £5,000. That threshold hasn’t been raised since 1989, and the hefty increase is likely to have an impact on the strategy of…
DetailsView Comments With effect from 1 December 2016 Neschen Coating GmbH is now a subsidiary of Blue Cap AG. Blue Cap AG, a listed company with its registered office in Munich specialises in the further development of medium-sized technology-driven companies whilst preserving their corporate identity. The new company has taken over the complete Bueckeburg staff…
DetailsDecember 4th, 2016 Splash 24/7 Asia, Regulatory 0 comments Lauren Tang from law firm Stephenson Harwood (Singapore) Alliance takes a look at the The Companies (Amendment) Bill 2017 and how it will change insolvency in Singapore. The insolvency scene in Singapore look set to change with the likely enactment of the Companies (Amendment) Bill 2017 (the…
DetailsTreasurer Tom Koutsantonis SOUTH Australian businesses have saved more than $160 million under tax cuts delivered in last years State Budget which make it easier for them to restructure, modelling shows. Treasurer Tom Koutsanotnis has released State Government data showing 35 businesses operating in SA, including the locally-headquartered Cheap As Chips, have taken advantage of…
DetailsNew York-based Anchorage Capital Group has acquired a slice of debt in collapsed law firm Slater & Gordon, as first reported by Street Talk on Sunday. The news comes after this column revealed on November 7 that Citigroup had offloaded its Slater’s exposure at just 38¢ in the dollar to an unnamed syndicate. It has since emerged Anchorage was one of…
DetailsEurozone finance ministers meet Monday as far apart as ever on the debt relief measures demanded by the International Monetary Fund for it to back their bailout programme for Greece. The IMF played a key role in two massive rescues for Greece but baulked at a third in 2015, worth 86 billion euros ($92 billion),…
DetailsSCOTLAND must clamp down on its insolvency industry amid concerns of “potential mis-selling”, a new report warns. More than a thousand debt-ridden Scots went bust last year – many losing their homes – despite entering in to legally binding deals arranged by under-regulated firms, according to the Govan Law Centre. The Glasgow-based not-for-profit in an…
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