IBBI allows same resolution professional to handle insolvency of a firm and its personal guarantor – The Economic Times

The insolvency watchdog has amended regulations to allow the same insolvency professional to steer the resolution of a stressed firm as well as the bankruptcy proceedings of its personal guarantors.Budget 2024 Budget at a glance: Your 2-minute guide to become a Budget Pro The removal of the restriction on such a dual role by the…

IBBI allows same RP for company and personal guarantor insolvency – Business Standard

Illustration: Binay Sinha The Insolvency and Bankruptcy Board of India (IBBI) has lifted the restriction to allow the same insolvency professional for the resolution process of a company as well as its personal guarantor for a better harmonisation and effective coordination of both processes.  The changes made to IBBI – Bankruptcy Process for Personal Guarantors…

ElectricBrands files for insolvency under self-administration – www.electrive.com

ElectricBrands states that it has filed an application for insolvency under self-administration with the Darmstadt Local Court and is seeking to reorganise the company by taking this step. The court ordered provisional self-administration on 29 January 2024. The aim is to completely reorganise the company, according to a company press release. In addition, The affiliated…

Scottish business with global ambitions appoints new Director to launch innovative product to disrupt competitive market – Scottish Business News

TURNKEY a leading provider of software solutions to the insolvency industry, is thrilled to announce the appointment of Craig McDonnell as the Director of Personal Insolvency and Creditor Services. With approx. 90% of the Corporate Insolvency case management market in the UK, Craig joins the team, and brings with him a wealth of experience and…

EY comments on Q4 2023 company insolvency data – Ernst & Young

Simon Edel, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon: Company insolvencies in 2023 reached their highest annual total in 30 years reflecting the difficult business environment that companies have faced over the last 12 months. The final quarter of 2023 also saw the highest quarterly number ofCreditors Voluntary Liquidations (CVLs)since this data started to…