A Serbian glass manufacturer has declared bankruptcy and ordered insolvency administrators to commence with its liquidation sale. The Serbian Glass Factorys Parachin Glassworks has been in operation since 1907, producing glass containers production facility including bottles and jars. The sale also includes a tableware glass production plant as well as its “Plana” limestone quarry, which…
Peter Chan hails a cab after the hearing. SING TAO Sophie Hui Former fung shui master Peter Chan Chun-chuen has been declared bankrupt after failing to pay HK$28.4 million in legal fees to Nina Wang Kung Yu-sum’s charitable foundation. Chan, 61, had been sentenced to 12 years for forging a will in a bid to…
The latest Coface Romania study shows that in the first six months of 2021, 3,033 new insolvency proceedings were opened, 23 percent above the level recorded in the same period of the previous year. Insolvencies opened in the first half of this year have returned close to the level before the Covid-19 pandemic and are…
The National Company Law Tribunal (NCLT), Chennai, has said the entire corporate insolvency resolution process for Vasan Health Care Private Limited cannot be started afresh from the stage of issuance of expression of interest because it will upset the timelines prescribed under the Insolvency and Bankruptcy Code, 2016. The NCLTs observation came on a petition…
Two meetings of groups of creditors of indebted Ocho Rios attraction Mystic Mountain Limited, MML, held during the past week, have failed to resolve issues related to whether the beleaguered company will be declared bankrupt and its assets sold off to repay bondholders and other persons and institutions it owes money. Unresolved, too, is whether…
Liam Henderson in action for US Lecce during a Coppa Italia clash with Torino The 25-year-old spent the second half of the 2019/20 season on loan at the Stadio Carlo Castellani, scoring once in 17 appearances before returning to parent club Hellas Verona. Henderson could be involved in Empolis Coppa Italia clash with Vicenza this…
Having shared the ins and outs of a director changing their name to avoid a disqualification, a similar situation occurred to me which happens and that is the re-use of a company name following liquidation, writes Gareth Wilcox, partner at Opus Restructuring & Insolvency If I place my company into liquidation, can I still be…
By November 1st the UK governments furlough scheme will end, spelling fresh challenges and opportunities for the banking sector, writes Daniel Lanyon. The UK could see a wave of consumers and SMEs entering into financial difficulties in Q4 2020 following the end of the governments furlough scheme. What does it mean for banking investors? While…
By November 1st the UK governments furlough scheme will end, spelling fresh challenges and opportunities for the banking sector, writes Daniel Lanyon. The UK could see a wave of consumers and SMEs entering into financial difficulties in Q4 2020 following the end of the governments furlough scheme. What does it mean for banking investors? While…
This issue includes the latest bulletins from HMRC, new Defence Against Money Laundering guidance for insolvency practitioners and a consultation regarding SIP 3.1 (Individual Voluntary Arrangements). In this issue SIP 3.1 consultation The Joint Insolvency Committee (JIC) is consulting on changes to Statement of Insolvency Practice 3.1 – Individual Voluntary Arrangements. JIC undertook a consultation…