This budget will take place under the shadow of the cost-of-living crisis, which has seen a huge rise in the number of people facing unpayable debts. Unemployment is spiking, and personal insolvencies and bankruptcies are on the rise. People are simply not earning enough to cover the essentials – and being forced into debt because…
Hundreds of jobs at risk as Unimetals enters liquidation TheBusinessDesk.com Read the original article here
TipRanks Black Friday Sale Skyfame Realty (Holdings) Ltd ( (HK:0059) ) has provided an announcement. Skyfame Realty (Holdings) Limited, a company incorporated in Bermuda, has been ordered to be wound up by the Commercial Court of the Supreme Court of Bermuda. The company is currently in liquidation, with Joint and Several Provisional Liquidators appointed to…
Former bankrupt bookie Ivan Yates is back raking in the cash with two property ventures associated with the businessman, turning a profit of over €3million in the past two years alone, Extra.ie can reveal. In 2022, after he emerged from bankruptcy in the UK, Yates proceeded to register himself as a director of two new…
Employment protection in an insolvency context The sale of a struggling business will often trigger TUPE. The usual tests will apply, looking at whether there is a transfer of an “economic entity” i.e. a grouping of resources which has the objective of pursuing an economic activity. If TUPE applies, employees will usually automatically transfer to…
Containerboard producer Wizpaper in liquidation EUWID Pulp and Paper Read the original article here
It’s Sunday at Forest Hill Church, Presbyterian in Cleveland Heights, and service is just beginning. Natasha Lovelace sits in the midst of the congregation at the end of a pew. She sings along to hymns, recites prayers, and she even brought cookies to share after service. It’s a small show of gratitude for all she…
The National Company Law Appellate Tribunal (NCLAT) , principal bench, New Delhi has dismissed an appeal challenging the rejection of a Section 9 application filed under the Insolvency and Bankruptcy Code (IBC), holding that the statutory requirement of serving a Section 8 demand notice on the corporate debtor was not fulfilled. The appellant had filed…
A Stand Against Coal Could Push Oakland Toward Bankruptcy The New York Times Read the original article here
Poorer nations attending the Group of 20 summit in South Africa have used the meeting to push leaders on climate action and high levels of debt, issues directly affecting the developing world. They have also sought to position themselves as economic partners with much to offer in sectors including mining, technology and artificial intelligence, among…