Aussie building company collapse leaves homeowners out-of-pocket – MSN
Aussie building company collapse leaves homeowners out-of-pocket MSN Read the original article here
Temporary changes to insolvency laws
Summary On 23 March 2020, the Federal Parliament passed the Coronavirus Economic Response Package Omnibus Bill 2020 (the COVID Act). The COVID Act received Royal Assent on 24 March 2020 which amended, amongst other things, the Corporations Act 2001, the Bankruptcy Act 1966 and the Bankruptcy Regulations 1996 to temporarily release directors from a risk…
What does the Temporary Relief from Wrongful Trading Tell Us about Singapore’s New Insolvency Law Regime?
Stacey Steele* The Singapore Government introduced temporary measures to relieve officers from new wrongful trading provisions as part of its response to COVID-19 in April 2020. The provisions establishing liability for wrongful trading are set out in the Insolvency, Restructuring and Dissolution Act 2018 (Singapore) (the “IRDA”) – which is yet to become effective. Singapore’s…
Mathew Gashi – Maddocks
Mathew Gashi Maddocks Read the original article here
Real world: ‘Jim, we’re in bad nick’ as insolvencies rise – The Australian
Real world: ‘Jim, we’re in bad nick’ as insolvencies rise The Australian Read the original article here
Insolvency data hides the true picture of business closures amid the cost-of-living crisis
In short: More small businesses are choosing to close because of falling profits during the cost-of-living crisis but their numbers aren’t included in insolvency figures What’s next? The federal government and Reserve Bank have been asked to consider small operators as they continue to fight inflation Jessica Bailey has a strong record of conquering challenges in the…
NCLT Orders Liquidation Of Tulip Hotels Under Insolvency And Bankruptcy Code After Failed Resolution Process
The National Company Law Tribunal (NCLT), has ordered the liquidation of M/s Tulip Hotels Private Limited under the Insolvency and Bankruptcy Code (IBC), 2016. The decision comes after the failure of the Corporate Insolvency Resolution Process (CIRP) to yield a resolution plan within the prescribed timeline. The CIRP for Tulip Hotels began on May 16,…