Jetstar will undertake a hiring blitz in response to the growing demand for domestic travel. Picture: NCA NewsWire / Paul Jeffers Jetstar will go on a hiring blitz to fill hundreds of new roles as airline switches some of its grounded international fleet towards domestic flights which are surging in demand. Jetstar chief executive Gareth…
NCP multi storied car park, Foundation Street, Ipswich, Suffolk, England. Photo: Geography Photos/Universal Images Group via Getty Images Car park giant NCP has started a formal “last resort” process to pull out of contracts for unprofitable parking facilities and implement cut rents, as it reels from the impact of stay-at-home orders due to the coronavirus…
As against CIRP, which follows creditor in control model, the pre-pack process would work on debtor in possession model. By Harish Kumar and Itee Singhal Ease of Doing Business for MSMEs: The pre-pack insolvency resolution process (pre-pack process), which has been in many discussions since the publication of the Insolvency Law Committees (committee) recommendations on…
By David Milliken 3 Min Read LONDON (Reuters) – Company insolvencies in England and Wales fell to their lowest level in more than 30 years during the first three months of this year, as government support measures helped businesses hit by the coronavirus pandemic to ward off bankruptcy. FILE PHOTO: A woman exercises with a…
Hainan Airlines Holding, the aviation unit of debt-laden Chinese conglomerate HNA Group, has posted the biggest-ever annual loss among listed Chinese companies. Hit by the outbreak of Covid-19 and provisions for asset losses linked to a restructuring at its parent firm, the Haikou-based carrier reported a loss of 64 billion yuan (US$9.9 billion) for 2020,…
ROLLE, Switzerland–(BUSINESS WIRE)–Garrett Motion Inc. (Garrett) today announced it has emerged from its pending Chapter 11 cases, successfully completing the restructuring process and implementing the Plan of Reorganization (Plan) that was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on April 23, 2021. With the support of a significant majority…
HONG KONG — Ping An Insurance Group and other investors have agreed to contribute to an $11.3 billion bankruptcy restructuring package to secure and rejuvenate a financially troubled corporate empire established by China’s top university. Peking University Founder Group (PKU Founder), a state-owned conglomerate founded by the university, has been in a Beijing court-supervised bankruptcy…
KATIE Price is looking to buy two more horses – despite being made bankrupt. Katie, 42, is hoping to snap up a new dressage horse from overseas and has also been looking at ponies for her youngest daughter Bunny, six. 6 Katie Price wants to buy a new horse from HollandCredit: Getty Images – Getty…
Canberra Cavalry pitcher Shawn Morimando in action at Narrabundah Ballpark. Photo: Peter Norton. A new ownership structure as part of an overall restructuring of the Canberra Cavalry national baseball franchise is imminent after the club was forced into voluntary administration at the end of March. Back-to-back seasons disrupted by unforeseen circumstances hit the club hard,…
Released 30 April 2021 Next release 30 July 2021 Media enquiries Steven Fifer +44 (0)30 3003 1568 Statistical enquiries Becca Wedge-Roberts (author) [email protected] Kate Palmer (responsible statistician) 1. Main messages for England and Wales One in 396 active companies (at a rate of 25.3 per 10,000 active companies) entered liquidation between 1st April 2020 and…