The UAEs new bankruptcy law could come into effect by the end of the year, amid concerns that the court system may struggle to implement it effectively. The bankruptcy law was published in the countrys official legal gazette on September 29, stating that it will come into effect three months later, according to a senior…
2016-10-25T17:16+02:00 17:16 25.10.2016 The National Bank of Ukraine (NBU) deliberately refused to sign an amicable agreement with bank Financial Initiative (Kyiv) that later was announced insolvent, former 100% beneficiary of the bank Oleh Bakhmatiuk has said. “The removal of bank Financial Initiative from the market was a personal whim of Mrs. Gonatareva (NBU Governor Valeriya…
Deutsche Bank may have to wait until next year to settle a massive US fine which has dented its share price and cast doubt on its future. The bank’s shares slumped to a record low last month after it emerged that the US Department of Justice wanted to fine it $14bn (£11bn) for alleged mis-selling…
South Australian Senator Bob Day has yet to officially resign from Parliament, meaning he is still being paid and could take his seat on the Senate cross bench next month. Last Monday, Senator Day told his staff I will of course resign from the Senate after he announced that his Home Australia group was being…
Sheikh Khalifa, the President, on Monday issued the long-awaited new federal bankruptcy law by decree, according to the state news agency Wam. The law, which contains elements of bankruptcy protection laws from jurisdictions including France, Germany and the Netherlands, provides, for the first time, a comprehensive legal framework to help distressed companies avoid bankruptcy and…
Posted 44 minutes agoShare Print The number of UK companies struggling to stay afloat has fallen in a further sign that the economy is holding up after the Brexit vote. In the three months after the referendum on 23 June, the number of firms in significant financial distress fell 6% to 248,916 from the preceding…
A convicted tobacco smuggler has been stripped of a prime parcel of riverside land in Kent to meet his more than £4m debt to the public purse. Robert Doran was jailed for four and a half years in 2012 for bankrolling a large-scale cigarette smuggling operation. The Dubai-based businessman was ordered to pay £1.45m, which…
This month we speak to Setfords Solicitors to find out more about the business Business name: Setfords Solicitors Office location: National, Pool Innovation Centre, and Truro Cornwall, Chancery Lane London, Jenna House Guildford. When was the business founded: 2006 How many employees: As well as a team of full-time lawyers based in our Guildford office we…
Written by Sarah Iasiello, October 24, 2016 Poor LiLo just cant catch a break! Following a string of personal crises, 30 year-old Mean Girls star Lindsay Lohan is facing the possibility of declaring bankruptcy after she reportedly failed to pay rent on her London home (worth around $5.5 million). Lawyers for the landlord of the property have…