Getty Images Christine Jiaxin Lee used the error to buy luxury goods, authorities had claimed Australian prosecutors have dropped charges against a Malaysian woman who allegedly withdrew A$4.6m (£2.6m; $3.5m) following a banking error. Christine Jiaxin Lee, 22, was alleged to have spent much of the sum on luxury items, such as jewellery and handbags.…
No COMI? No big deal! Hong Kong courts reaffirm their position on recognition of foreign insolvency proceedings Taylor Wessing Read the original article here
Significantly more company bankruptcies in Switzerland Keystone-SDA Listen to the article Listening the article Toggle language selector … Read the original article here
MedTechDeals The board of MedTech Achilles Therapeutics is proposing a members’ solvent voluntary liquidation. The London-headquartered firm, which has an office in Philadelphia and facilities at Stevenage Bioscience Catalyst, sold some of its technology assets to AstraZeneca late last year for $12m. Achilles, founded in 2016, was developing precision T cell therapies that target clonal…
Forward AM Technologies GmbH has filed for insolvency as a proactive measure to restructure the business, CEO Martin Back says. Reports of the company’s financial struggles emerged earlier this week, with the company now confirming in a press release that it commenced insolvency proceedings with the District Court of Heidelberg on November 21, 2024. The Forward…
Syncona (SYNC) says that its portfolio company, Achilles Therapeutics Plc, has announced that its board has recommended a members’ solvent voluntary liquidation and a return of capital to shareholders. SYNC’s announcement says that, based on the information currently available to Achilles and, assuming that Achillies’ shareholders approve the liquidation proposals and associated resolutions, it is…
On 6 December 2024, ASIC released its updated Regulatory Guide RG 217 ‘Duty to prevent insolvent trading: Guide for directors’ (RG 217). The updated guidelines replace the previous version which was released in August 2020. Most notably, RG 217 now contains detailed guidance from ASIC on how directors may be able to protect themselves from…
The future of the plant, which is owned within a fund managed by Aviva Investors on behalf of public and private pension fund investors, has been thrown into question since redundancies at the site were announced in November. In a letter received by vice-chair of the Docks Incinerator Action Group (DIAG) and Plaid Cymru Councillor…
Customers complained they did not receive the kitchens they had paid deposits for to Smart Choice Kitchens Limited and Empire Kitchens and Bathrooms Limited A phoenix company, Connect Kitchens Limited, was suspected of being set up to continue the same operation The three companies, connected by a shared director, were shut down in court following…
In a bid to provide relief to homebuyers, the Insolvency and Bankruptcy Board of India (IBBI) has allowed resolution professionals (RP) to hand over possession of plots, flats, or buildings to homebuyers while the resolution process is still ongoing. Through amending ‘Insolvency Resolution Process for Corporate Persons’ regulations, the IBBI has allowed the RP to…