A total of 347 people agreed deals with their lenders in the first three months of this year in situations where they are unable to pay the full amount. This was up 16pc on the number of arrangements put in place in the first quarter of last year, figures from the Insolvency Service of Ireland…
Much accused director Bryan Singer is settling a nearly two-year old rape case from a then minor with a hefty payout but strict insistence on his innocence. In a deal struck in recent days, the multiple X-Men flick helmer will hand over $150,000 to Cesar Sanchez-Guzmans bankruptcy trustee to see the sexual abuse claim disappear.…
Germany-based GSA Leisure Cargo has filed for bankruptcy following the loss of a major contract. The company at one time counted 14 leisure airlines amongst its customer base, but last year lost a major contract with TUI to the ESC Group. Tillmann Peeters of restructuring firm Falkensteg Restrukturierung said that the company has applied to…
CAM GETS IBC PARTNER Cyril Amarchand Mangaldas has hired Richa Roy as a partner in its insolvency and bankruptcy and policy practice in Mumbai. Roy recently worked as a graduate research fellow at the University of Oxford in the UK on a range of public policy projects in trade policy and banking regulation. Roy was…
Legislation passed last night means liquidators will need to be licenced and meet basic standards of honesty and competence moves enacted to protect creditors and the public, Commerce and Consumer Affairs Minister Kris Faafoi says. The Third Reading of the Insolvency Practitioners Regulation Bill and the Insolvency Practitioners Regulation (Amendments) Bill address some failings of…
SEBI has moved the Supreme Court against an order by the National Company Law Tribunal (NCLT) in the matter of collective investment schemes (CIS) where the tribunal ruled that the Indian Bankruptcy Code (IBC) will prevail over the SEBI Act. The SC has issued a notice to the parties involved and the next hearing is…
With concerns growing that children and vulnerable people are being targeted by rogue online gambling advertising, my new research suggests the current sanctions arent enough to change the practices of online advertisers. In April 2019, the UKs Advertising Standards Authority (ASA) ran an experiment using an advertising avatar, an online identity which mimicked the internet…
A total of 347 people agreed deals with their lenders in the first three months of this year in situations where they are unable to pay the full amount. This was up 16pc on the number of arrangements put in place in the first quarter of last year, figures from the Insolvency Service of Ireland…
The liquidators of CBL Corporation have published their first report on the New Zealand-based insurers financial position, showing that it owes more than $179 million to creditors. Kordamentha, the appointed liquidator, stated that preferential creditors are owed $566,766, secured creditors are owed $6,617,438 and unsecured creditors are owed $172,801,592. CBL Corporation was placed in voluntary…
The Supreme Court, in the recent case of JK Jute Mill Mazdoor Morcha v Juggilal Kamlapat Jute Mills Company Ltd through Its Director & Ors, held that a trade union can file as an operational creditor for the purpose of the Insolvency and Bankruptcy Code, 2016 (IBC). The court said that a trade union is…