PwC in talks to offload insolvency unit to Teneo

Another part of big four consulting firm PwC could soon have a new home. Street Talk understands that the insolvency arm of PwC’s deals practice, known as Business Restructuring Services, is on the cusp of being sold to public relations and advisory company Teneo in a deal brokered by the big four firm’s veteran dealmaker…

Cruise Passengers Fighting Back After Gambling Debt Practices Revealed in Lawsuit

Photo byelijah.lovkoff | mbbirdy (Getty Images) According to news reports, a major cruise line is facing a potential class-action lawsuit over allegations of predatory gambling practices. An Australian law firm is investigating a potential class-action lawsuit against P&O Cruises Australia, alleging that the cruise line engaged in gambling practices that targeted vulnerable passengers. The firm,…

Shareholder responsibilities in bankruptcies under new Company Law

The new Company Law, effective from 1 July 2024, has significantly impacted commercial entities, with shareholder responsibilities regarding capital contributions capturing the most attention. This article examines the duties of shareholders in companies that have entered bankruptcy liquidation or reorganisation under the new law, clarifying the boundaries of their responsibilities. Capital contribution responsibilities Kong Yiding…