EY-Parthenon teams were appointed as insolvency administrators in March 2021. From the start, a unique aspect to this engagement was the media attention. Given the size and impact of this bankruptcy, this was a hurdle both Abengoa and EY-Parthenon had to overcome and engage with regularly throughout the process. Loan requests Initially, the EY-Parthenon teams…
Restructuring and insolvency laws are adapting with more innovative approaches toward bankruptcy case management. here we look at developments and analysis from three major jurisdictions China’s bankruptcy law system moves toward maturity It took 12 years to bring China’s Enterprise Bankruptcy Law into existence, with it finally being enacted on 1 June 2007. On 16…
Shuang Yun Holdings Limited (HK:1706) has released an update. Shuang Yun Holdings Limited has announced that trading of its shares remains suspended as the company works to comply with the resumption guidance issued by the Stock Exchange. The Group has ceased operations following the court-ordered liquidation of its subsidiaries and is in the process of…
The Supreme Court recently in Bharti Airtel Limited and Anr. v. Vijay Kumar Iyer and Ors[1] [“Bharti Airtel Judgement”] has settled the issue on the applicability of the principle of setoff under Insolvency and Bankruptcy Code, 2016 [“IBC”]. The Division bench of Supreme Court of India comprising of Justice Sanjiv Khanna and Justice S.K.V Bhatti…
By Freddy Pawle For Daily Mail Australia Published: 13:53 AEST, 27 August 2024 | Updated: 13:53 AEST, 27 August 2024 A sports tour company has collapsed owing more than $3million, leaving young cricketers and coaches out of pocket for overseas trips. Calypso Destinations was placed into administration in April after the company collapsed under the…
CHICAGO, ILLINOIS, UNITED STATES – AUGUST 19: President of the United States Joe Biden at the 2024 … [+] Democratic National Convention in Chicago, Illinois, United States on August 19, 2024. A critical deadline for a new student loan forgiveness plan is this week. (Photo by Jacek Boczarski/Anadolu via Getty Images) Anadolu via Getty Images…
Aug 27, 2024 11:08:00 By Harald Groven In 2022, a Russian court ordered Google to pay compensation to state-run broadcasters and seized more than $100 million from the bank accounts of Google Russia. As a result of the seizure of compensation, Google’s Russian subsidiary has declared bankruptcy. Putin seizes $100m from Google to fund Russia’s…
The International Monetary Fund (IMF) Many countries are being squeezed by increasing interest payments and high debt redemptions. The economic scarring of the pandemic, conflicts around the world, and the abrupt rise in global interest rates have hit low-income countries the hardest. The median low-income country is spending over twice as much on debt service…
A selection of Kester Black nail polishes from a December 2023 campaign. Source: Facebook/Kester Black. Investors in cosmetics brand Kester Black say they were only told of the company’s financial hardships weeks after it entered voluntary administration, surprising those who contributed to its $2.1 million equity crowdfunding raise three years ago. The ethical beauty label…
Synopsis In 2018, Adani Group faced a setback when it lost the bid for Ruchi Soya to Patanjali amid allegations of conflict of interest. Cut to 2024, Adani Group has made over a dozen acquisitions under the Insolvency and Bankruptcy Code (IBC), strengthening its leadership across various sectors. By strategically acquiring distressed assets such as…