You have run out of free articles. You can support our newsroom by joining at our lowest rate! Loading&hellp; Thanks for being a subscriber. Sorry, your subscription does not include this content. Please call 800-453-2472 to upgrade your subscription. Sign Up Today and Support Local Journalism Enjoy more articles from Charleston & Mattoon’s Most Trusted…
Hertz, the car rental group facing bankruptcy, is looking to sell up to $1bn in stock to take advantage of frenzied trading in its shares, in an unprecedented move for a company whose solvency is in doubt. The proposed cash infusion, outlined in a filing on Thursday, would help fund the companys reorganisation process and…
Photo: Getty Images When Christchurch bookkeeper and business owner Lisa Cowe was declared bankrupt in 2017, it was over a $6200 credit card debt owed to the BNZ. Cowe joined 1862 others in bankruptcy that year, many of them voluntarily making the move to clear their debts and attempt to start anew, free of the…
Accordingly, both Australia and the new British rules allow suppliers to apply to court for permission to use an ipso facto clause. This is not a realistic option for cash-strapped small suppliers. One new British rule is therefore worth urgent consideration in this country: small-scale suppliers of goods and services will be able to use…
Ura Menndez lawyers review the extraordinary measures taken by the Spanish government to protect businesses and citizens 1MIN READ: As many other countries, Spain has adopted a number of emergency measures to cope with the Covid-19 outbreak, with the main purpose of protecting public health, on the one hand, and mitigate the damages on the…
Collapsed Estonian peer-to-peer lenders Envestio and Kuetzal have officially been declared bankrupt. Business registry documents in Estonia show Andres Hermet was appointed as bankruptcy trustee for both companies this month. The move means investors will have to file claims with the bankruptcy trustee to try to get their money back. Claims forms can be obtained…
The Office of the Supervisor of Insolvency (OSI) and Office of the Government Trustee (OGT) are encouraging persons who have been facing financial obstacles as a result of the COVID-19 pandemic to engage the organisations for assistance. Speaking with JIS News, Deputy Supervisor of Insolvency, Fayola Evans-Roberts, said the organisations offer services that can assist…
Tuesday, June 9, 2020 As set out in the firstblogin this series, the Corporate Insolvency and Governance Bill (the Bill) introduces a new debtor-in-possession moratorium to give companies breathing space in order to try to rescue the company as a going concern. The first blog outlined how the moratorium will work and the secondblogfocused on…
This significant recent decision of the Supreme Court of Canada confirms (i) that a CCAA supervising judg… This significant recent decision of the Supreme Court of Canada confirms (i) that a CCAA supervising judge enjoys broad discretion and the necessary jurisdiction to prevent a creditor from voting on a plan of arrangement when the creditor…
Passengers wait to get on a Hertz shuttle bus at Los Angeles International Airport. Patrick T. Fallon | Bloomberg | Getty Images To get a slice of one of the market’s most epic rallies, investors are snapping up stocks everywhereincludingshares in bankrupt companies, which in theory will be worth nothing. Hertz, Whiting Petroleum, Pier 1and…