The Board of the National Bank of Ukraine (NBU) on Jan. 10 issued decision No. 14-rsh/BT on placing the PJSC Platinum Bank (Kyiv) on the list of insolvent banks, the NBU said in a statement on its website on Jan. 11. As of January 1, 2017, the bank did not reach the positive value of…
Former One Nation Senator Rod Culleton has been formally disaqualified from holding a senate seat. In a statement released on Wednesday, Senate President Stephen Parry confirmed there was now a senate vacancy. “Having received the necessary documentation of the facts from relevant officials, I have informed Senator Culleton and notified the Governor of Western Australia…
Care home operators, trade unions and charities have been telling Theresa May for months that the care home industry is in crisis and needs help. Last week, May got her sternest warning yet the chairs of three influential Commons committees urged the prime minister to deal with the immense challenge of paying for health and social care in the…
Independent senator Rod Culleton has lost his spot in the Senate after he was declared bankrupt by a Federal Court judge. Senate president Stephen Parry has informed Mr Culleton and WA Governor Kerry Sanderson that there is a vacancy because the former One Nation member has been disqualified from the position as he is an…
The sister of bankrupted former billionaire Nathan Tinkler is facing a similar fate after being accused of entering into uncommercial transactions and breaching her directors’ duties. Donna Dennis is alleged to have sold off furniture belonging to two Tinkler family companies for a little more than $100,000 despite being notified that the companies were insolvent…
State-owned bus company Bus Éireann’s financial situation has worsened, and without urgent reforms it could face insolvency within 18 months, according to informed sources. Late last year, Minister for Transport Shane Ross briefed his Cabinet colleagues and said the company was at crisis point, and could become insolvent within 24 months. However, the latest figures…
Debt advisers are braced for a surge in queries as families try to balance their finances after Christmas. Freya Findlay and Julie Morgan look at the support that is available to them The national charity is expecting some 180 people to seek advice on debt in January as it says…
Maritime privileged credits Judicial recognition Comment The Insolvency Act (22/2003) is based on the principle of universality with regard to assets and liabilities. However, in accordance with the act, certain credits including maritime privileged credits must be separated from a bankruptcy estate, resulting in a breach of this principle. Maritime privileged credits Article 76.3…
FW: To what extent do you believe the UK insolvency regime should be influenced or guided by the principles and processes of US Chapter 11? Bryan: Previous amendments to UK law started from the basis that Chapter 11 was something of a gold standard. However, lobbying by the banks and the insolvency profession largely negated…
FW: To what extent do you believe the UK insolvency regime should be influenced or guided by the principles and processes of US Chapter 11? Bryan: Previous amendments to UK law started from the basis that Chapter 11 was something of a gold standard. However, lobbying by the banks and the insolvency profession largely negated…