IVAs (Individual Voluntary Arrangements) help you to deal with your debts. Before taking any decision about this arrangement, you have to understand this procedure and its effects. An IVA acts as an agreement between a debtor and his/her creditors to pay debts (total debts or parts of obligations). You have to make regular payments to…
A High Court ruling is good news for a large number of debtors appealing findings that their applications for court approval of personal insolvency arrangements were made out of time. Mr Justice Denis McDonalds ruling clarifies a provision of the Personal Insolvency Acts concerning court approval of a Personal Insolvency Arrangement (PIA). He rejected arguments…
The Committee through e-voting held on February 12, 2019 approved to issue fresh invitation for expression of interest from interested, prospective resolution applicants as per the provisions mentioned under The Insolvency and Bankruptcy Code, 2016. The RP was authorised to keep the invitation open from February 13, 2019 to February 28, 2019 Pdf Link: BS…
Alas, a promised means of escaping Glenn Beck and the gay frogs (according to Darryn) has met a timely and unsurprising demise. Mars One Ventures, the corporate arm of the project that set out to colonise the red planet, has revealed to have been declared bankrupt by a Swiss court. The listing was filed back…
10:59 12/02/2019 MOSCOW, February 12 (RAPSI) The Commercial Court of Orenburg Region has declared businessman Sergey Chernov residing in Moscow bankrupt for his 7.6-billion-ruble debt (about $115 million) to creditors, according to court records. Debt restructuring process has been initiated against him. Chernov has filed a claim for his own bankruptcy. As part of this…
These are interesting times for Irish books retailer Eason, which this week asked the High Court to formally approve its plan to pay a 60 million special dividend to shareholders. The grand old retailers plan is to free up close to 100 million in capital by completing the sell-off of a 13-strong portfolio of properties,…
Mars One Ventures the company that claimed it was going to send hundreds of people to live (and ultimately die) on the Red Planet is now bankrupt, according to Swiss financial notices. Its an unsurprising development, as many experts suspected that Mars One has been a scam for years, preying on peoples desires to travel…
Its no secret that to many California consumers, this winters Chapter 11 bankruptcy filing by Pacific Gas & Electric Co. looks as phony as a $3 bill. Thats because bankruptcy filings are intended to protect companies and individuals whose financial survival is threatened. There is no evidence this states biggest utility is in such deep…
Collect $200 and pass go because this is a lesson we can all get behind. There are so many different life lessons we need to teach our kids to help guide them in life. But at the end of each day, we just hope we have done enough toraise good humans. Thats why it is…
As expected from a new set of laws for a complex subject, the Insolvency and Bankruptcy Code is evolving. And as is frequently also the case, the changes in a complex law can get confusing. ET gives a snapshot of where things stand now, and how that affects stakeholders. Legislation/SC Judgement:First IBC Amendment (Nov 2017)…