The government has filed a bankruptcy notice against Najib as a debtor for failing to pay income tax amounting to RM1.69 billion. KUALA LUMPUR: Former prime minister Najib Razak has yet to be declared bankrupt over his failure to pay RM1.69 billion in additional income tax arrears to the Inland Revenue Board (IRB), according to…
Member Article Eleanor Temple, chair of insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds , responds to the Q1 2021 England & Wales corporate and individual insolvency statistics, which were published this morning by the Insolvency Service. Corporate There were 2,384 seasonally adjusted corporate insolvencies in Q1…
Australian Treasurer Josh Frydenberg arrives to speak to the media during a press conference at Parliament House in Canberra. Source: AAP/Lukas Coch. Insolvency practitioners have welcomed a federal government commitment to consult on further reforms for the industry, but say more piecemeal changes to Australias insolvency regimes could create even more complexity for business owners.…
Business Small businesses that operate through a trust will now be considered for further protection, as the government mulls further insolvency reforms as part of the federal budget. Business Jotham Lian 04 May 2021 1 minute read object(stdClass)#17579 (8) { [“image_intro”]=> string(64) “images/articleimages-391×261/850×492/Josh-Frydenberg-new2-ad.jpg” [“float_intro”]=> string(0) “” [“image_intro_alt”]=> string(43) “Government flags further insolvency reforms” [“image_intro_caption”]=> string(0)…
The reprieve is over. A year-long waiver on insolvency filings has ended in Germany and there are already signs that bankruptcies are starting to pick up in Europe’s largest economy. Germany introduced the waiver last March, when the COVID-19 pandemic hit, part of a package of measures aimed at supporting businesses but which gave rise…
This would protect a company from claims being brought while its pursuing a scheme, Ashurst insolvency partner Alinta Kemeny said. US Chapter 11 Ms Kemeny said the current schemes of arrangement framework already allowed for a debtor-in-possession model, but a costly court-driven process meant it was primarily used only by large corporations. The Ashurst partner,…
Australian Treasury As part of our economic recovery plan, the Morrison Government is pursuing further measures to improve Australias insolvency framework for both small and large businesses. In the 2020-21 Budget, the Government announced the most significant reform to Australias insolvency framework in 30 years. These reforms, which came into effect on 1 January 2021,…
Insolvent Laurentian University has cleared a critical obstacle to move forward on its plan for eventual financial stability after a judge on Sunday agreed to the terms of a stay that would protect the university from its creditors until Aug. 31. Justice Geoffrey Morawetz of Ontario Superior Court has agreed to allow the university to…
By David Milliken 3 Min Read LONDON (Reuters) – Company insolvencies in England and Wales fell to their lowest level in more than 30 years during the first three months of this year, as government support measures helped businesses hit by the coronavirus pandemic to ward off bankruptcy. FILE PHOTO: A woman exercises with a…
KATIE Price is looking to buy two more horses – despite being made bankrupt. Katie, 42, is hoping to snap up a new dressage horse from overseas and has also been looking at ponies for her youngest daughter Bunny, six. 6 Katie Price wants to buy a new horse from HollandCredit: Getty Images – Getty…