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Correction of press release: Ortelius International AB (publ) publishes second balance sheet for liquidation purposes showing that equity exceeds registered share capital.

The press release issued on 17 July at 22:43 did not include the required reference to the EU Market Abuse Regulation (MAR). The reference has been added in the press release below, which is otherwise identical to the previously distributed press release. Ortelius International AB (publ) (“Ortelius” or the “Company”) has, in accordance with Chapter…

New UAE insolvency law: procedures & practice

Over the past years, the UAE has fundamentally modernized its insolvency framework and moved away from its historically more restrictive approach. In particular, Federal Decree-Law No. (51) of 2023 Promulgating the Financial Reorganization and Bankruptcy Law introduced a more comprehensive and business-oriented regime that places greater emphasis on restructuring, financial recovery and business continuity rather…

Why your double degree may not be worth the extra HELP debt

Aussie universities are aggressively promoting double degrees as a major employment edge – but some students claim there’s “no advantage” to the massive investment. Western Sydney social worker Gabrielle Garofano studied a Bachelor of Social Work and Criminal Justice at Western Sydney University, but said the second qualification had not made a significant difference to…

Corporate Debtor cannot be Prosecuted for Pre-CIRP Environmental Violations after Resolution Plan Approval and Change in Management: Orissa HC [Read Order]

The Orissa High Court quashed criminal proceedings initiated against Ferro Alloys Corporations Ltd. for environmental violations committed prior to the commencement of the Corporate Insolvency Resolution Process (CIRP)and held that Section 32A of the IBC grants statutory immunity to the corporate debtor following approval of a resolution plan and a complete change in management. The…

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