Inland Revenue seeks to liquidate Christchurch salon owner Reece Unahi's companies – The Press
Inland Revenue seeks to liquidate Christchurch salon owner Reece Unahi’s companies The Press Read the original article here
UK Corporate Insolvency and Governance Act 2020: A more debtor-friendly restructuring regime? | Latin America | Global law firm
Introduction The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following…
The ‘false comfort’ of extended temporary insolvency law measures and the need for deeper structural reform | Latin America | Global law firm
Many businesses and industry groups are currently advocating for the Treasurer to extend the temporary six month exemption from insolvent trading liability for directors – due to expire on 25 September 2020 – and to also adopt other interim relief measures such as a prohibition on liquidators recovering unfair preference payments to creditors. It had…
Debt-for-nature swaps | Latin America | Global law firm
With the debt burden in certain emerging markets approaching unsustainable levels, Eurobond maturities requiring active management and with a climate crisis advancing, governments, creditors and the official sector are exploring new and innovative ways to restructure and reprofile sovereign debt, while simultaneously supporting opportunities to tackle climate-related challenges. Debt-for-nature swaps offer a solution. …
Woman Wanted To Help Her Friend Pay Off Her Debt, But She’s Wondering If It Would Do More Harm Than Good » TwistedSifter
Shutterstock/Reddit Friendships can become complicated when money gets involved. If you had the money to help a friend out, would you help them, or would you refuse? This woman has a friend who lives a lavish lifestyle and is now drowning in debt. She could easily give her the money to help her out of this…
The new case of early release of retirement savings for “cessation of self-employed activity” as a result of liquidation proceedings: the PERCOL does not necessarily have to emanate from the liquidated company
Facts Mrs F stated that as a former employee of Group X, she held a PERCOL that had been opened with account keeper A. She explained that she had left Group X to set up her own company, SAS Y. However, some time after it was created, SAS Y ran into financial difficulties and, in…
Voluntary Liquidation of Solvent LLCs in the UAE: A Shareholder’s Guide – Lexology
Voluntary Liquidation of Solvent LLCs in the UAE: A Shareholder’s Guide Lexology Read the original article here
REVEALED: Liquidator appointments for businesses in the Brisbane council area for September 26 – The Courier Mail
REVEALED: Liquidator appointments for businesses in the Brisbane council area for September 26 The Courier Mail Read the original article here
Claire’s France avoids liquidation, for now
Paris – The Paris Commercial Court kept the French subsidiary of low-cost jewellery retailer Claire’s in receivership on Thursday. This decision followed the submission of a takeover bid from three companies, which was deemed “very minimalist” by lawyers for the staff representatives. The court opened receivership proceedings for Claire’s France at the end of July.…
Uganda-based Madhvani Group’s firm, Independent Sugar Corporation Limited (INSCO), has assumed full control of the debt-ridden Hindustan National Glass & Industries Limited’s (HNGIL) through the Insolvency and Bankruptcy Code process
The Uganda-based Madhvani Group’s firm, Independent Sugar Corporation Limited (INSCO), has assumed full control of the debt-ridden Hindustan National Glass & Industries Limited’s (HNGIL) through the Insolvency and Bankruptcy Code process on Friday. The acquisition was led by industrialists, Kamlesh Madhvani and Shrai Madhvani, with financial support from Cerberus Capital Management and the International Finance…