SIAC introduces the new Restructuring and Insolvency Arbitration Protocol – www.hoganlovells.com
SIAC introduces the new Restructuring and Insolvency Arbitration Protocol www.hoganlovells.com Read the original article here
US bars Ghana from aid over sovereign debt defaults
The United States government has barred Ghana from receiving foreign assistance, including development loans and flagship programs such as the Millennium Challenge Corporation (MCC), following the country’s failure to meet debt obligations owed to Washington. The restrictions are set to take effect in the 2026 financial year. A report to the U.S. State Department stated…
Supreme Court Restores Corporate Debtor’s Property Under PMLA To Successful Resolution Applicant – The Law Advice
Supreme Court Restores Corporate Debtor’s Property Under PMLA To Successful Resolution Applicant The Law Advice Read the original article here
Reverse CIRP: A Homebuyer-Centric Shift in Real Estate Insolvency – Lexology
Reverse CIRP: A Homebuyer-Centric Shift in Real Estate Insolvency Lexology Read the original article here
CPO’s proposal on $3.8b back pay – Debt relief for public servants
News Ryan Hamilton-Davis 12 Hrs Ago Chief Personnel Officer Dr Daryl Dindial. – THERE appeared to be a mix-up in communication between the president of the Public Services Association (PSA) and the office of the Chief Personnel Officer (CPO), over details regarding the ten per cent wage offer and resulting back pay to be made…
NCLT Mumbai Reaffirms Insolvency Process Can Proceed Against Guarantors Without CIRP Of Corporate Debtor
The National Company Law Tribunal (NCLT) at Mumbai recently reaffirmed that insolvency proceedings against personal guarantors under the Insolvency and Bankruptcy Code can be initiated even if no CIRP is pending against the corporate debtor, relying on the Supreme Court’s ruling in State Bank of India v. Mahendra Kumar Jajodia(2022). A coram of Judicial Member…
Supreme Court Restores Property Of Corporate Debtor Attached Under PMLA To Successful Resolution Applicant
The Supreme Court recently reiterated that the objective of Section 8(8) of the Prevention of Money Laundering Act(PMLA) is to ultimately restore any attached properties to the bonafide successful resolution application(SRA) who have a legitimate interest in it. Section 8(8) allows the Special Court to direct the Central Government to restore property that has been…
DAR to deliver P1.79B debt relief, land titles to Negros Island farmers – Daily Tribune
DAR to deliver P1.79B debt relief, land titles to Negros Island farmers Daily Tribune Read the original article here
Understanding Accounting Insolvency: Key Concepts and Real-World Examples – Investopedia
Understanding Accounting Insolvency: Key Concepts and Real-World Examples Investopedia Read the original article here
Builder who stole plant machinery and used company money to pay for Audi ordered to repay more than £190,000
Builder Vasile Hrusca withdrew funds from his failing company to pay off a high-performance Audi and sold plant machinery under hire purchase agreements, spending the proceeds on gambling Hrusca was handed a suspended sentence and disqualified as a company director earlier this year Financial investigations by the Insolvency Service under the Proceeds of Crime Act…