Here are some frequently asked questions in relation to SBR. The process effectively provides an insolvent entity with a pathway to compromise its existing debts (i.e. creditors vote in favour of a proposed cents in the dollar return, with the remaining balance of debt written off) and to continue to trade under the control of…
This article originally appeared in Insurance Day, March 2025. In January, the Insolvency Service issued its annual summary of company insolvency statistics, which revealed the number of company insolvencies registered in England and Wales in 2023 (25,164) was the highest annual number since 1993 and, while 2024 saw a slight decrease in this number (to…
In a recent judgment, the National Company Law Appellate Tribunal (NCLAT) overturned an order by the National Company Law Tribunal (NCLT), Chandigarh Bench, directing Punjab National Bank (PNB) to refund ₹4.50 crore to the liquidation estate of Vegan Colloids Ltd. The ruling reinforces the primacy of the Insolvency and Bankruptcy Code (IBC), 2016, in ensuring…
The company that owns the Village Green Shopping Centre is owed roughly $283,000 from The Bay. Smaller amounts are owed to the City of Vernon and a local plumbing company Hudson’s Bay, Canada’s oldest company, is in the process of liquidating almost all of its department stores, and creditors for its Vernon location have been…
The company that owns the Village Green Shopping Centre is owed roughly $283,000 from The Bay. Smaller amounts are owed to the City of Vernon and a local plumbing company Hudson’s Bay, Canada’s oldest company, is in the process of liquidating almost all of its department stores, and creditors for its Vernon location have been…
(TNND) — As Congress hashes out spending and tax cuts, a new survey from the Cato Institute shows widespread public support for shrinking the scope of the federal government. Americans estimate that the government wastes 59 cents of every dollar it spends, according to the survey published Thursday by the libertarian-leaning think tank. And over…
There are better ways to handle your credit card debt than making just the minimum payment on the account. Getty Images/iStockphoto A large number of Americans have been struggling to make ends meet right now — and that’s especially true for those carrying credit card debt. Case in point? The latest Large Bank Credit Card…
China’s economic policies and management have received a blow with Fitch Ratings downgrading its long-term foreign currency issuer default rating to ‘A’ from ‘A+’. The downgrade reflects the deterioration of China’s public finances under the Chinese Communist Party (CCP) leadership, with government debt projected to reach a staggering 80% of GDP by 2029, more than…
After bankruptcy, retail chain liquidates stores, seeks buyer TheStreet Read the original article here
The company that owns the Village Green Shopping Centre is owed roughly $283,000 from The Bay. Smaller amounts are owed to the City of Vernon and a local plumbing company Hudson’s Bay, Canada’s oldest company, is in the process of liquidating almost all of its department stores, and creditors for its Vernon location have been…