High Court dismisses bankrupt’s bid to remove trustee

SINGAPORE – After clashing with his court-appointed private trustee, a bankrupt man asked the High Court to have the trustee removed, citing what he described as an “irreparable breakdown” in their working relationship. But the court dismissed Alvin See Chuen Lim’s application, ruling that he has no legal standing to seek the trustee’s removal. It…

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Ethiopia Restructures Debt Through G-20 Common Framework

Welcome to Foreign Policy’s Africa Brief. The highlights this week: Ethiopia reaches a milestone in its debt relief process, the United States sanctions a major Rwandan gold refinery, and Cape Verde makes history at the FIFA World Cup. After a tumultuous five-year struggle, there are signs that Ethiopia’s debt relief process may finally be nearing…

Ethiopia Restructures Debt Through G-20 Common Framework

Welcome to Foreign Policy’s Africa Brief. The highlights this week: Ethiopia reaches a milestone in its debt relief process, the United States sanctions a major Rwandan gold refinery, and Cape Verde makes history at the FIFA World Cup. After a tumultuous five-year struggle, there are signs that Ethiopia’s debt relief process may finally be nearing…

NCLAT: IBC Moratorium Cannot Shield Proceeds of Crime

The National Company Law Appellate Tribunal (NCLAT) has said the moratorium available to companies undergoing insolvency proceedings cannot be used to shield assets alleged to be proceeds of crime, while upholding actions taken by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) against Siddhi Vinayak Logistics Ltd. The appellate tribunal said…