A corporate debtor’s journey from admission to resolution comprises various compliances and procedures in India, as prescribed in the Insolvency and Bankruptcy Code, 2016 (IBC), and regulations. One of the key steps is implementation of a resolution plan, which requires approvals from relevant regulators under applicable law. Veena SivaramakrishnanPartnerShardul AmarchandMangaldas & Co An amendment in…
Economic downturns create opportunities for the restructuring or acquisition of challenged assets, and we anticipate increased activity in this space in 2023. The indicators pointing in that direction are: inflation remains elevated, with the Reserve Bank of Australia successively hiking interest rates in response; ASIC’s insolvency statistics for Q3 and Q4 2022 showing an escalating…
A Queensland construction company has collapsed, plunging into jeopardy the fate of multiple state government-funded building projects worth hundreds of millions of dollars. Last Thursday, the Queensland Supreme Court ordered Allroads Pty Ltd into liquidation. Allroads specialised in civil construction and had taken on a number of major road and defence projects in Brisbane, Townsville…
Citing the story of Sudbury’s Laurentian University, federal gov’t made the announcement in this week’s fall economic statement The federal government has signalled it will move to prevent post-secondary institutions from declaring insolvency. This in the wake of Laurentian University’s 2021-2022 insolvency, which included mass layoffs and program cancellations, the severing of ties with federated…
Government to guarantee Rex flights as airline in administration 9News Read the original article here
Welcome to The Markup, where we use investigative reporting, data analysis, and software engineering to challenge technology to serve the public good. Sign up for Klaxon, a newsletter that delivers our stories and tools directly to your inbox. In 2021, a company specializing in collecting and selling location data called Near bragged that it was “The…
KPT Restructuring, a new national restructuring and business advisory has entered the market, established in Sydney by Ozem Kassem, Jonathon Parker and Jason Tang. A trio of Cor Cordis partners – Ozem Kassem, Jonathon Parker, and Jason Tang – have broken away to launch their own consultancy KPT Restructuring, which will provide distressed businesses with…
“Our aim is to move quickly to restructure Godfreys to preserve as much of the business and as many jobs as possible. We intend to trade the restructured store network and sell the business and assets as a going concern, with strong interest expected from prospective buyers.” The first meeting of creditors will be held…
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The fight against the climate emergency is being hampered by a debt crisis that involves the world’s poorest countries paying more than 12 times as much to their creditors as they are spending on measures to tackle the impact of global heating, a campaign group has warned. As the Cop28 meeting opened in the United…