Los Angeles Dodgers star Shohei Ohtani addressed the media on Monday afternoon for the first time since the team fired his interpreter Ippei Mizuhara amid gambling allegations. “I am very sad and shocked that someone who I trusted has done this,” Ohtani said through an interpreter. He vehemently denied agreeing to pay off Mizuhara’s gambling debt…
Customers of a Perth bridal shop have been left scrambling to find another wedding dress, losing thousands of dollars in deposits, after the owner announced the store’s sudden closure. The owner of North Perth boutique NOA Bridal announced to her brides on Tuesday she would “no longer be able to fulfil its obligation to deliver”…
Introduction The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following…
Prof Jason Harris, Sydney Law School One of the problems is that our insolvency laws adopt a ‘one-size-fits-all’ approach that makes little distinction between winding up a national transport company and dealing with a failed corner store business. This work must be paid for and while the former may well justify the attention of what…
Hong Kong to Introduce Corporate Rescue Regime and Insolvency Trading Regime Herbert Smith Freehills Read the original article here
Notably, the NCLAT had earlier closed insolvency proceedings against Byju’s after it accepted a settlement between the ed-tech firm and the Board of Control for Cricket in India (BCCI). Before the Supreme Court, the BCCI’s counsel too urged the Court to stay the CoC’s operations. “Let meeting of COC be deferred or stayed.. How can…
Project Overview Fraudulent phoenix activity is of great concern to Australian policymakers. It occurs where there is the deliberate liquidation of a company to avoid paying debts but the business continues through another company, and in corporate groups through the liquidation of undercapitalised subsidiaries and transfer of business to other companies in the group. This…
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New figures from Deloitte Ireland show that the number of corporate insolvencies jumped by 47% in the first quarter of 2024 compared to the same time last year and could reach a total of 800 by the end of the year. Deloitte’s latest Insolvency & Restructuring Statistics reveal 214 corporate insolvencies during the first three…
The staff who fear they ‘lost everything’ in Crown Agents collapse Devex Read the original article here