The continued suspension of new insolvency proceedings has hit not just recovery for lenders, but also affected small businesses who typically form the bulk of suppliers to many corporates. Operational creditors are those seeking to recover their dues with respect to goods or services they have provided, while financial creditors are the lenders. The government…
Under the law, a person declared bankrupt is disqualified from holding any key government office. Justice Duncan Gaswaga of the Commercial Court declared Ndawula bankrupt following a bankruptcy application filed by Hirra Traders, Uganda Limited on August 31, 2020. File Photo Under the law, a person declared bankrupt is disqualified from holding any key government…
Another patient, Jade Bruce, told The Sydney Morning Herald she was woken by Dr Blackstock midway though her surgery. I have tubes hanging out me, no clothes on, blood everywhere and there is my brother and neighbour on a large screen, she said. Ms Bruce said the doctor had rung them on a video call…
The new permanent $10,000 threshold will ensure that Australians in financial difficulty are not made bankrupt over relatively small amounts of debt, Mr Porter said in a statement on Friday. This also accounts for the changing value of money since the $5000 threshold was last increased in 2010, as well as changes to debt levels…
Attorney-General Christian Porter today announced that Australias personal bankruptcy threshold will be set at $10,000. The threshold was temporarily lifted from $5,000 to $20,000 on March 24 of this year in response to the pandemic. The new threshold of $10,000 will be permanent, and comes into effect on January 1, 2021, when the temporary threshold…
Insolvency advisor urges businesses to address insolvency issues this year before Safe Harbour moratorium ends MEDIA RELEASE 18 December, 2020 FOR IMMEDIATE RELEASE BUSINESS LIFELINE TO END NYE BUSINESSES SHOULD SEEK PROFESSIONAL HELP ASAP -Insolvency Advisor urges businesses to address insolvency issues this year before Safe Harbour moratorium ends, to avoid tradinginsolvent on or after…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 33 bankruptcies in week 50, 8 fewer than in week 49. In addition, 8 sole proprietorships were declared bankrupt, 2…
This year, the federal government passed a range of new legislation to help small businesses withstand the effects of the COVID-19 pandemic. While some of these initiatives are familiar, such as JobKeeper and changes to insolvency, from January 1, 2021, important changes will occur. Here are four changes SMEs need to know. 1. JobKeeper extension…
Bourbon Arctic – Bourbon photoBy The Maritime Executive 12-16-2020 06:33:36 The Commercial Court of Marseilles approved the recovery plan for Bourbon Maritime after an agreement was reached with the creditors. The decision completed the reorganization proceedings that began nearly 18 months ago. The company expects to complete the financial and capital restructuring of the group…
Member Article Corporate insolvencies increased by 4% to 889 in November 2020 compared to Octobers figure of 862, and were 41% lower than November 2019s figure of 1,512. Personal insolvencies fell by 22% in November 2020, with 9,319 compared to Octobers figure of 11,945, and were 3% lower than November 2019s figure of 9,568. Eleanor…