By Audrey Naa Dei KOTEY& Clara METTLE-NUNOO In 2020, Ghana’s Parliament passed two significant pieces of legislation affecting the right of lenders, and borrowers both in and out of insolvency. The first was the Corporate Insolvency and Restructuring Act, 2020 (Act 1015). The second was the Borrowers and Lenders Act, 2020 (Act 1052). While these…
Over the last two years high CPI-driven HELP debt indexation – 3.9% in 2022, 7.1% in 2023, probably in the vicinity of 5% this year – has been a major issue. It has brought to public attention HELP debt issues that had been waiting for their trigger. The last time HELP debt indexation exceeded 5%…
Europe’s third-largest tour operator FTI files for insolvency Reuters Read the original article here
Creditors of collapsed Western Sydney developer Toplace, which amassed debts of over $2 billion before founder and now fugitive Jean Nassif fled to Lebanon, voted on Tuesday to hold off liquidation of the group in favour of a scheme that may see them get a better payout. Known as a holding deed of a company…
Rates of problem gambling may be more than eight times higher than previously thought, according to new data released by the betting industry regulator. The Gambling Commission has previously said the proportion of people suffering from a gambling problem may be as low as 0.3% of adults in Great Britain. The figure, which was based…
London CNN — The UK government has moved to take control of the country’s second biggest city, Birmingham, after the local council effectively declared itself bankrupt earlier this month. In a letter to the council Tuesday, the government proposed appointing commissioners to take charge of the daily running of the local authority and to oversee…
Above: Sule Arnautovic from Salea Advisory Access Print Solutions, Graphic Print Group (GPG) and Graphic Web in Sydney and Adelaide are now for sale after entering voluntary administration with 50 employees affected. Sule Arnautovic from Salea Advisory has been appointed voluntary administrator for the three businesses by the directors of the business. Arnautovic is a…
[3520359] The views expressed represent the investment team’s assessment of the market environment as of May 2024, and should not be considered a recommendation to buy, hold, or sell any security, and should not be relied on as research or investment advice. Views are subject to change without notice. This market commentary has been prepared for…
UK town halls are slashing spending on everything from parks to adult social care and the arts in the face of an unprecedented funding crisis. Long-running financial pressures caused by central government cuts, rising demand for services and risky investment bets have been compounded by double-digit inflation, pushing many councils deep into debt. The crisis…
Introduction In October 2022, the Singapore International Commercial Court (SICC)’s procedural rules were amended to provide it with the jurisdiction to hear cross-border corporate insolvency, restructuring and dissolution proceedings. Highly respected restructuring and insolvency judges were also appointed to SICC’s panel of international Judges, to cement Singapore’s position as the Southeast Asian jurisdiction…