Thursday, May 25, 2017 As 26 June 2017 approaches the date of entry into effect of the Recast EU Insolvency Regulation (2015/8484/EU) we look in detail at the new provisions for co-ordinating the insolvency proceedings of members of a pan-European group of companies and consider whether the new proposals for co-operation will be compulsory, the practicalities of…
The number of people availing of debt solutions through the Insolvency Service of Ireland has increased. A total of 1,302 applications were received by the ISI from people who between them owed 610 million in the first quarter of 2017. The equivalent figure in the first quarter of 2016 was 570 people, an increase of…
15:58 25/05/2017 MOSCOW, May 25 (RAPSI) The Moscow Commercial Court on Thursday declared ex-president of Vneshprombank Larisa Markus sentenced to 9 years in prison for embezzling 114 billion rubles (about $2 billion) bankrupt upon the application of VTB24 bank, RAPSI learnt in the court. In April, the court granted another petition lodged by VTB24 seeking…
Introduction Courts’ jurisdiction Potential for reform Introduction Jersey has a familiar range of legal processes and remedies for the restructuring and insolvency of corporations. The principal provisions are contained in the Companies (Jersey) Law 1991 and the Bankruptcy (Désastre) (Jersey) Law 1990. These have been consistently applied and developed by the Royal Court. While certain…
Applications for personal insolvency arrangements more than doubled in the first three months of this year when compared to the equivalent period in 2016. The total received between last January and April was 1,144. The number of arrangements finalised in the same period rose by almost one-fifth to 179. The Insolvency Service of Ireland said…
Source: Montenegro Airlines PODGORICA (Montenegro), May 25 (SeeNews) Montenegro’s tax authority said it has rejected the tax debt restructuring proposal of flag carrier Montenegro Airlines as the company receives state aid. In this way, Montenegro Airlines tops the blacklist of tax debtors to the country’s treasury, with liabilities worth 15.4 million euro ($17.3 million), the…
Introduction Courts’ jurisdiction Potential for reform Introduction Jersey has a familiar range of legal processes and remedies for the restructuring and insolvency of corporations. The principal provisions are contained in the Companies (Jersey) Law 1991 and the Bankruptcy (Désastre) (Jersey) Law 1990. These have been consistently applied and developed by the Royal Court. While certain…
Former young rich-listed coal mining entrepreneur and now bankrupt, Nathan Tinkler has been banned from managing businesses in Australia due to his involvement in the collapse of 11 companies. Key points: Mr Tinkler, a former BRW young rich lister, enjoyed a net worth $600 million in 2010 He and two associates breached directors’ duties…
Former Newcastle-based mining magnate Nathan Tinkler.Picture: AAPIMAGE Bankrupt former coal baron Nathan Tinkler and two of his closest business allies have been banned from managing a company for at least three years for their roles in the collapse of several businesses. The Australian Securities and Investments Commission has disqualified Mr Tinkler and Troy Palmer, the…
China and the Philippines have joined forces to tackle illegal gambling, part of Beijing’s broader campaign to curb illicit capital outflows and a pledge by Manila to weed out unscrupulous operators from the country’s booming gaming industry. The coordinated crackdown comes amid warming ties between Chinese President Xi Jinping and his Philippine counterpart Rodrigo Duterte,…