In a landmark development, the Chief Judge of the Federal High Court, Justice John Tsoho, has announced the creation of an Insolvency Unit aimed at streamlining the debt recovery process in Nigeria. This new initiative, as confirmed by the court’s Chief Registrar, Sulaiman Hassan, is designed to enhance the efficiency of insolvency proceedings and provide…
Puerto Rican power utility files for bankruptcy Reuters Read the original article here
High Court Creates Insolvency Unit To Streamline Debt Recovery Channels Television Read the original article here
Hasan Nawaz Sharif, son of PML-N supremo Nawaz Sharif, has been declared bankrupt by the London High Court in a tax and liability case filed by the United Kingdom’s tax and revenue department, according to official court documents. The UK Gazette, which maintains public records, states that Hasan, a resident of Flat 17 Avenfield House,…
Closed KFC and Pizza Hut outlets in Istanbul after İş Gıda’s bankruptcy declaration.
The Federal High Court of Nigeria has established an Insolvency Unit to modernise and update insolvency practice and proceedings in the country. The unit was created by the Chief Judge of the court, Justice John Tsoho, as part of concerted efforts to ensure that the court meets the expectations of all aspects of the law…
13 Firefighters Declared Bankrupt Taken Disciplinary Action BERNAMA Read the original article here
Liberty Galati, the sole integrated steel producer in the region, hopes to resume full operations at a capacity of 2 million tonnes per year, about two-thirds of its nameplate capacity according to the pre-insolvency request approved by the court this month – and the revised European Union’s strategies in the sectors of defense and energy…
The Federal High Court Headquarters has announced the creation of an ‘Insolvency Unit’ for the Court, aimed at addressing the implementation of laws relating to company restructuring and dissolution in Nigeria. According to the court, the laws related to “Company Voluntary Arrangements (CVA), Administration, Receivership, Winding Up (Dissolution), and various forms of restructuring of companies”…
Nova Property Group, the rescue vehicle of the failed R4.6 billion Sharemax property syndication scheme, is insolvent. Nova’s annual financial statements (AFS) for the year ending February 2024 reveal a company in severe financial distress, with mounting debt, unpaid taxes and severe cash flow constraints. It is also clear that Nova cannot repay the former…