On 24 March 2020, the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) (‘Omnibus Act’) was enacted as part of the Commonwealth government’s economic response to the Coronavirus. The Omnibus Act made changes to the Bankruptcy and Corporations Acts and Regulations. These changes were intended to extend for six months, but were later (in September 2020)…
The Corporate Insolvency and Governance Act 2020 has introduced a new standalone moratorium procedure for companies.1 The moratorium is part of a package of significant legislative reforms contained in the Act, intended to enhance the UK’s restructuring rescue culture. These were originally consulted on between 2016 and 2018 and were fast-tracked to deal with the COVID-19…
A bankruptcy court in New Delhi has admitted Hero Electric Vehicles for a corporate insolvency resolution process in an application filed by its operational creditor Metro Tyres. The National Company Law Tribunal appointed Bhoopesh Gupta as interim resolution professional for the EV maker. “We are of the view that the corporate debtor (Hero Electric Vehicles)…
A bankruptcy court in New Delhi has admitted Hero Electric Vehicles for a corporate insolvency resolution process in an application filed by its operational creditor Metro Tyres. The National Company Law Tribunal appointed Bhoopesh Gupta as interim resolution professional for the EV maker. “We are of the view that the corporate debtor (Hero Electric Vehicles)…
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By Madalaine Elhabbal Washington, D.C. Newsroom, Dec 26, 2024 / 14:30 pm Continuing St. John Paul II’s mission from the 2000 Jubilee, a U.S.-based jubilee network is partnering with international aid organizations to provide debt relief for the world’s poorest countries during the 2025 Jubilee Year. Representatives from Caritas Internationalis and Jubilee USA Network, a…
Some of the former employees of Prolink NZ who have written a letter to Immigration NZ asking for open work visas. Photo: RNZ / Lucy Xia About 50 migrant workers whose visas are at risk after the liquidation of their employer – the Auckland-based labour hire company Prolink NZ – are demanding open work visas…
According to local report, South Korean crypto lending platform Delio has been declared bankrupt. Delio, which owes its customers approximately 245 billion won ($1.75 billion), halted withdrawals in mid-2023, leaving about 2,800 customers unable to access their funds. Court has ordered Delio’s liquidation following FTX’s collapse A Seoul court has ordered liquidation proceedings for Delio,…
The Casbit Group, previously the operator of Lalabet and JungliWin online casinos, has been declared bankrupt by the Court of Curaçao. The company’s financial troubles stem from numerous unpaid debts, including €619,500 owed to Dutch gamblers who were unable to claim their winnings. After ceasing operations in Curaçao earlier this year, the group’s casinos are…