Directors no longer have the protection of the COVID Safe Harbour insolvency rules put in place to deal with the impact of the pandemic. These rules, which absolved directors from personal liability if their businesses traded while insolvent, have been replaced by legislation that includes a new, streamlined SME restructuring process that came into force…
These charges are baseless and I will be defending them. This has already been dealt with and is very old news. Ron Bensimon Originally from Melbourne but based in Bondi since 2017, Mr Bensimon indicated he would fight the case against him. These charges are baseless and I will be defending them. This has already…
By Reuters Staff 2 Min Read * Scheme received unanimous support of relevant lessors * Khazanah to pump 3.6 bln rgt to fund MAG until 2025 * Group restructuring expected to complete early March KUALA LUMPUR, Feb 22 (Reuters) – Malaysia Aviation Group obtained court approval in Britain on Monday for an agreement between the…
The Part A1 Moratorium is an insolvency process that was introduced by the Corporate Insolvency Governance Act 2020 to help financially distressed companies obtain temporary protection from creditor action, while the company attempts to rescue itself as a going concern. A quick legal update on the Part A1 Moratorium and its effects can be found…
For individual insolvencies, the number of bankruptcies in January 2021 was 818, while the number of Debt Relief Orders was 1,167. Both were 47% lower than in January 2020. Overall numbers of company and individual insolvencies have remained low since the start of the first UK lockdown in March 2020, when compared with the same…
HONG KONG — HSBC Holdings is expected on Tuesday to unveil a renewed effort to push further into Asia and to relocate some top executives to Hong Kong as the bank accelerates its largest overhaul in decades to address years of underperformance. With the U.K.-based bank’s business recovering in the fourth quarter, CEO Noel Quinn…
WASHINGTON, DC – FEBRUARY 4: Senate Majority Leader Chuck Schumer (D-NY) speaks during a press … [+] conference about student debt outside the U.S. Capitol on February 4, 2021 in Washington, DC. Also pictured, L-R, Rep. Mondaire Jones (D-NY), Rep. Alma Adams (D-NC), Rep. Ilhan Omar (D-MN), Sen. Elizabeth Warren (D-MA) and Rep. Ayanna Pressley…
Grupeer is looking to work with lawyers representing a group of disgruntled investors who were taking legal action against the European peer-to-peer lender. The Latvia-based peer-to-peer lender had itseconomic activities suspendedby the countrys tax authority last September. It also faced criticism and legal action after it said in March that it wouldno longer pay interest…
It is important to remember that borrowers can refinance a federal loan to a private loan, but they cannot go the other way or revert back once this occurs. The decision may be simpler for prospective borrowers since federal loan rates change each year and are based on the high yield of the last 10-year…
Eleanor Temple, Yorkshire Chair of R3 Eleanor Temple, chair of insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds, responds to todays publication of Januarys corporate and personal insolvency statistics for England and Wales: Januarys fall in corporate insolvency numbers has been driven by a fall in Creditors…