Under the IBC, enforcing personal guarantee remains a tall order – Business Standard

Business Standard Insolvency law experts say that invoking personal guarantees goes against the spirit of the IBC TopicsInsolvency and Bankruptcy Code|IBC As lenders scramble to invoke promoter guarantees against corporate debtors with little success, government officials say a corporate insolvency resolution process is not over till the insolvency of the personal guarantor is also resolved.…

Katie Price ‘to attend bankruptcy hearing over Zoom from luxurious £1,400-a-night Maldives resort’ – Daily Mail

Katie Price ‘to attend bankruptcy hearing over Zoom from her luxurious 1,400-a-night resort in the Maldives’ The former glamour model will attend a bankruptcy hearing over Zoom while she is staying with her beau Carl Woods at 1,400-a-night resortYou & Me Maldives The TV personality, 42, returns to court on Tuesday after someone ‘anonymously tipped…

Boris Becker accused of hiding tennis trophies during bankruptcy – The Guardian

Boris Becker has been charged with concealing trophies and medals won during his illustrious tennis career, including two from his three Wimbledon singles victories, from bankruptcy trustees. Appearing at Southwark crown court in London on Thursday, Becker, already facing 19 existing charges relating to a failure to comply with legal obligations to disclose information, was…

COVID-19: UK Insolvency Reform – Scrutiny of Administration Pre-Pack Sales – JD Supra

Executive Summary On 8 October 2020, the UK Government’s Insolvency Service issued a report on the state of pre-pack sales following the administration of insolvent UK companies (Pre-Pack Sales) and published draft regulations to require enhanced scrutiny of Pre-Pack Sales to connected parties during the administration process (the Draft Regulations). If the Draft Regulations are…

Meet UK’s ‘biggest bankrupt’ Pramod Mittal who spent who spent Rs 505 crore on daughter’s wedding – Business Today

Industrialist Pramod Mittal, who reportedly spent 60 million Euros (about Rs 505 crore) on his daughter’s wedding, has claimed that he owes 2.5 billion pounds. This would make the steel tycoon, the younger brother of UK-based steel magnate Lakshmi Mittal, Britain’s biggest bankrupt. Mittal, 64, was declared bankrupt this summer by the Insolvency and Companies…