Better use of data will help create realistic repayment plans, ensuring payments remain manageable for those who need support. While supporting people in difficulty, the government will maintain a firm approach to fraud and deliberate non‑payment, helping protect over £100 billion collected each year to fund vital public services. Millions of people and businesses who owe money to government will benefit from…
The Supreme Court of India has held that while a creditor’s counterclaim against a corporate debtor stands extinguished if it is not included in an approved Resolution Plan, the creditor may still raise the plea of “set-off” as a defensive measure in pending arbitral proceedings. A Bench comprising Justice Dipankar Datta and Justice Augustine George…
Native Instruments’ CEO has issued a statement following news that the music tech company has entered full insolvency proceedings. Sharing a statement via the company’s blog yesterday, CEO Nick Williams explained that Native Instruments will now transition “from ‘preliminary insolvency’ into formal ‘insolvency’ proceedings where applicable”. “As part of the restructuring process, Native Instruments GmbH…
The review at a glance The UK Government has published its statutory review of the effectiveness of the permanent measures introduced by the Corporate Insolvency and Governance Act 2020 (CIGA 2020). CIGA 2020 came into force on 26 June 2020, during the height of the COVID-19 pandemic, with the goals of supporting businesses through the…
While the German government is pouring hundreds of billions of euros into rearmament and war, the jobs massacre in the automotive, supplier, chemical, steel and other key industries continues unabated and is now extending to the services sector. The trade unions are ensuring that job cuts proceed smoothly, and that any resistance is crushed at…
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Friday issued notice to the monitoring committee of bankrupt Jaiprakash Associates Ltd (JAL) on a plea by Velocity Enterprises, a Bhopal-based contractor, challenging the rejection of its claim under the insolvency process. The appellate tribunal said the matter warranted consideration and directed that the bank…
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Warning UK borrowing rise makes energy bill help harder BBC Read the original article here
Award-winning chocolate factory plunges into liquidation ahead of Easter – after 20 years in business The Sun Read the original article here
사진 확대 The number of bad loans (non-profit loans) that fail to pay loan interest on time increased sharply last year. Analysts say that an increasing number of small and medium-sized companies and private businesses are being pushed into marginal situations due to concerns over an economic slowdown amid the wave of high interest rates…