October 13th, 2016 Holly Birkett Asia, Finance and Insurance, Offshore 0 comments Malaysian oil and gas company Perisai Petroleum Teknologi has declared itself insolvent and has been classified as a Practice Note 17 (PN17) company. On Tuesday, the company disclosed it is unable to pay the principal and interest of the S$125m ($91.9m) bond issued by its…
Comments (0) Lisa Thomas, insolvency practitioner at Neville & Co looks at the importance of adequate protection for customer’s deposits One of the first questions we are often asked by directors of a company in trouble is: “Will I get disqualified from being a director?” It is actually a rare occurrence to be banned as a…
This article first appeared in The Edge Financial Daily, on October 13, 2016. KUALA LUMPUR: Perisai Petroleum Teknologi Bhd, which became the first Malaysian oil and gas (O&G) company to fall victim to the slump in oil prices, has declared itself insolvent, after it could not pay the principal and interest of the S$125 million…
The Laughing Samoans/YouTube The Laughing Samoans play ‘Piggyback’ The Laughing Samoans will continue to entertain despite one half of the comic duo being declared bankrupt. The Wellington act, performed by Eteuati Ete and Tofiga Fepulea’i, are a popular live comedy act. The pair, who started performing in 2003 and have a show on Ma… Read the…
An opinion issued this week is the first examination by a Scottish court of the principle of ‘modified universalism’ and the requirements for an enforceable floating charge where all the company’s property is situated in a non-UK jurisdiction. This opinion by Lord Tyre in the Court of Session concerns three companies incorporated in Scotland, but…
Magik Theatre in need of help Bryan Wendland, KENS 5:31 PM. CDT October 11, 2016 SAN ANTONIO — Crumbling walls, broken lights that can’t be replaced and an air conditioning system as old as Hemisfair. Those are just a few of the problems Magik Theatre faces as it pays down hundreds of thousands of dollars…
Insolvency resolution requires a set of multidisciplinary skills from legal to technical for effective outcomes New Delhi, October 12: The Centre should consider limited liability partnerships (LLPs) as an eligible vehicle for being registered as insolvency professional, say insolvency law experts. The draft regulation on registration of insolvency professionals currently provides that only an individual…
The author is a Reuters Breakingviews columnist. The opinions expressed are his own. Deutsche has received a cautious vote of creditor confidence. The German bank is issuing expensive debt. That shows it can access markets, despite a feared $14 billion U.S. regulatory fine. Its less powerful a signal than buying it back, as Deutsche Bank…
The Insolvency Service of Ireland (ISI) has welcomed Abhaile the new Mortgage Arrears Resolution Service which was officially launched by the Tánaiste and the Minister for Social Protection recently. The purpose of the Service is to help people in serious arrears to find the best available solutions, with the help of professionals who have expert…
The Hong Kong government is right to draw a link between innovation, international competitiveness and future prosperity. Chief Executive CY Leung believes innovation enhances quality of peoples lives and supercharges our economic engine. In competition with markets like Singapore, he wants to win the race to develop high value-added innovation and technology industries and make Hong…