June 2, 2021 - Page 2 of 3 - Insolvency Guardian

Malaysia’s AirAsia X gets shareholder go-ahead for restructuring plan – Jakarta Post

RestructuringBy Insolvency Guardian June 2, 2021

Share this article Liz Lee (Reuters) Kuala Lumpur, Malaysia Wed, June 2, 2021 2021-06-02 16:15 0 ef61debc7c9ec5e1a7dfe462b71fb817 2 Business Air-Asia,Malaysia,shareholders,restructuring,aviation-industry Free AirAsia X shareholders have approved the Malaysian budget airline’s debt restructuring, it said on Tuesday, allowing it to pursue a scheme it viewed as key to survival. Shareholders of the long-haul affiliate of AirAsia…

Influencer posts for debt advice company banned – Evening Standard

Debt HelpBy Insolvency Guardian June 2, 2021

I nstagram posts by three reality TV stars promoting a debt advice service have been banned after the influencers failed to reveal that they were being paid to advertise the company. Geordie ShoresChloe Ferry 25,Helen Briggs, also 25, from Ex On The Beach, and Towies Myles Barnett, 27, who have more than four million followers…

Personal Guarantors Under The Insolvency And Bankruptcy Code, 2016 – Live Law – Indian Legal News

BankruptcyBy Insolvency Guardian June 2, 2021

The Supreme Court of India in Lalit Kumar Jain vs. Union of India & Ors.[1] has dismissed a challenge to a notification dated 15.11.2019 issued by the Ministry of Corporate Affairs,[2] which brought into force the following provisions of the Insolvency and Bankruptcy Code (hereinafter referred to as the ‘Code’), 2016: Clause (e) of Section…

Rogue recovery specialists wound-up in court – Mirage News

BankruptcyBy Insolvency Guardian June 2, 2021

Global Investigations and Recoveries Limited was wound up in the public interest in the High Court on 17 May 2021 before DDJ Watkin. The Official Receiver has been appointed liquidator of the company. During the proceedings, the court heard that Global Investigations and Recoveries was incorporated in April 2019, with registered offices in Nottingham. The…

‘Grossly inadequate’: inquiry slams Crown’s responsible gaming program – The Australian Financial Review

GamblingBy Insolvency Guardian June 2, 2021

Without expressly saying so, the changes now proposed amount to an implied admission that some of Crowns practices some quite recent are inconsistent with the responsible service of gaming … It would be open for the commission to conclude that Crowns various failures to implement the code are serious and persistent, he said. The silk…

Teneo Launches Global Restructuring Business – Yahoo Finance

RestructuringBy Insolvency Guardian June 2, 2021

Firm accelerates expansion with completion of the acquisition of Deloitte’s UK Restructuring Services business NEW YORK and LONDON, June 1, 2021 /PRNewswire/ — Teneo, the global CEO advisory firm, today announced the latest phase of its ongoing expansion by launching a global Restructuring business following the completion of its acquisition of the Restructuring Services business…

Mauritius: roadmap to enforcing claims against offshore companies – ICLG.com

LiquidationBy Insolvency Guardian June 2, 2021

Bilshan Nursimulu of 5 Fifteen Barristers considers the Mauritius-based disputes that can arise from offs… Bilshan Nursimulu of 5 Fifteen Barristers considers the Mauritius-based disputes that can arise from offshore investments, particularly where debt is involved. Mauritius is home to offshore companies with total assets that amounted to USD 582 billion as at 31 December…

A designer for 30 years, Sophie Holt stages her first runway show – The Australian Financial Review

LiquidationBy Insolvency Guardian June 2, 2021

Ms Holt, aware that Oroton is yet to fully shed its former reputation as corporate and somewhat staid, was candid in her hopes for the show: I worry that Oroton is not the edgiest, sexiest brand, which is what is normally on display at Fashion Week. Ive given it my best shot but who knows…

North Australia Cattle Company goes into voluntary administration – Beef Central

LiquidationBy Insolvency Guardian June 2, 2021

The North Australia Cattle Company, once one of Australias largest live cattle exporters, has been placed into voluntary administration, with debts owed to trade creditors of approximately $3.6 million. Notices of the appointment of administrators to North Australian Cattle Company Pty Ltd and its sister company Southern Australian Cattle Company Pty Ltd were published on…

AirAsia X gets shareholders’ nod for restructuring | News | Flight Global – Flightglobal

RestructuringBy Insolvency Guardian June 2, 2021

Beleaguered AirAsia X has gained shareholder approval to proceed with its corporate restructuring plan, as it reiterated its commitment to an operational restart as soon as possible. The shareholder approval, which took place at the airlines extraordinary general meeting on 1 June, comes as AirAsia X finalises negotiations with creditors on its restructuring process. The…

Daily Archives: June 2, 2021