The Insolvency and Bankruptcy Code, 2016 envisaged standard, plain vanilla processes to start with, but anticipated sophisticated options as the ecosystem matured. With considerable learning and maturity of the ecosystem, and a reasonably fair debtor-creditor relationship in place, the stage is set to push the envelope a bit further. The IBC-envisaged corporate insolvency resolution process…
18:06 26/03/2021 MOSCOW, March 26 (RAPSI) The Moscow Commercial Court has extended the procedure in bankruptcy against Vneshprombank until September 14, according to court records. Earlier, in November, the Moscow District Commercial Court dismissed cassation appeals filed by six former top managers of the bank against seizure of their property. In August 2020, the Ninth…
The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. The Act granted automatic extensions for filing deadlines between 27 June 2020 and 5 April 2021 to relieve the burden on companies during the coronavirus (COVID-19) pandemic and allow them to focus all their efforts on continuing to operate. Automatic extensions…
A PARISH council will have to write off a debt of almost 17,000 after an allotment holder who took it to court declared bankruptcy. Maureen Powles, from Hurworth, near Darlington, was told last year she would have to pay Hurworth Parish Councils costs after she took it to court and lost following a long-running row…
Katie Price has plans to give herself a makeover with the launch of her new beauty brand. The bankrupt star, who was once worth around 45million, has started to rebuild her business empire with a new company named Katie KP Limited. Already the former glamour model, 42, has made a roaring success of her collection…
KATIE Price is launching a new money-spinning beauty brand as she continues to rebuild her empire following bankruptcy. Katie, 42, has put her name behind a new business venture called Katie KP Limited. 11 Katie Price is involved in a new money-making beauty businessCredit: instagram 11 The star has teamed up with her bath bomb…
In response to the emergence of the COVID-19 pandemic in Australia in 2020, the federal government injected an unprecedented level of stimulus into the Australian economy and introduced temporary law reforms aimed at protecting against an anticipated “tidal wave” of insolvencies. These temporary law reforms included a moratorium on civil liability for insolvent trading for…
Advertisement Wednesday, March 24, 2021 The Government has issued aconsultation paperregarding statutory audits and financial reporting. The consultation makes proposals in relation to four areas, namely directors, auditors and audit firms, shareholders and the audit regulator. We havepreviously summarisedthe proposals impacting the purpose and scope of an audit. This post will focus upon the matters…
Another win for the Duchess of Sussex. One of Meghan Markles lawsuits has left a prominent paparazzi agency bankrupt nearly a year after they obtained private photos of her and Prince Harrys son, Archie. The company, Splash News & Picture Agency, officially declared Chapter 11 bankruptcy following their legal battles with Meghan, The Hollywood Reporter…
As a follow on to last weeks article on restructuring farm debt, personal insolvency may also be an alternative debt solution. If you are in financial difficulty and your loans have been sold to a vulture fund you will need specific professional advice from a personal insolvency practitioner (PIP). A PIP will help you decide…