One case that Agrokor could be compared to would be the infamous Parmalat case that shook Italy – and the similarities are uncanny. As Poslovni Dnevnik writes on the 15th of January, 2018, unlike what took place in the handling of the infamous Parmalat case, there are no individual restructuring plans for particular companies in…
Bankrupt business tycoon Scot Young, 52, made a phone call to his ex-wife In the call revealed in a BBC Two documentary he offered Michelle Young £30m The couple had been involved in one of the most costly divorces in Britain Mr Young pleaded with her to drop her investigation into his finances – five…
MNP Consumer Debt Index – January 2018 Canadians are increasingly pessimistic about their ability to absorb higher interest rates and cover their monthly bills. MNP LTD One in three Canadians say they are unable to cover their monthly bills, up eight points since September. Half are more concerned about their ability to repay debts, up…
Key questions answered on the liquidation of the construction firm and its implications for staff Carillion employs 43,000 people, including almost 20,000 in the UK. Photograph: Christopher Thomond for the Guardian The construction firm Carillion, which is involved in a host of major government projects including HS2, has gone into compulsory liquidation. What went wrong…
One in three Canadians say they are unable to cover their monthly bills, up eight points since September. Half are more concerned about their ability to repay debts, up three points since September. Average Canadian left with $112 less at the end of the month compared to last quarter. CALGARY, Alberta, Jan. 15, 2018 (GLOBE…
The Insolvency and Bankruptcy Code (Amendment) Act, 2017, is based on an ordinance promulgated by the president on 23 November. It is intended to improve the credibility of the corporate insolvency resolution process (CIRP) and makes some ground-breaking changes with respect to the eligibility of resolution applicants, including promoters and persons connected to them. Amit…
Mr Justice Toni Abela has provisionally upheld a request for injunction by Air Malta against ALPA, the airline’s pilots union. On Sunday, Air Malta said it had filed an urgent warrant of prohibitory injunction in the courts of law. The airline said that a conflict arose between the chief officer of flight…
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Written by Kate McDonald on 15 January 2018. Sydney-headquartered health informatics firm and EHR vendor Ocean Health Systems will continue to operate on a business as usual basis despite entering voluntary administration last week, with hopes the company can be restructured and work through its financial problems. Administrator Peter Krejci from insolvency and business recovery…
The Insolvency and Bankruptcy Code, 2016, primarily aims to achieve reorganization and insolvency resolution in a time-bound manner for maximizing the value of assets of insolvents. The National Company Law Tribunal (NCLT), the adjudicating authority under the code, works to that end. However, being a creature of statute the NCLT must function strictly within the…