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…
Slater and Gordon is facing a $250 million class action from Maurice Blackburn. Listed law firm Slater & Gordon is facing a class action that is $100 million bigger than its market cap, but it is unlikely to drive the law firm to insolvency, says Maurice Blackburn. On Wednesday, Maurice Blackburn filed a $250 million class action on…
Facts Decision Comment A recent Supreme Court judgment addressed the issue of maritime liens and the remuneration of shipping companies’ court-appointed managers by adopting a strict interpretation of the maritime liens rules. According to such interpretation, judicial managers should not be considered a company’s preferred creditors for their remuneration. Facts The court appointed two…
KUALA LUMPUR, 8 Oct 2016: Poor financial management resulted in 22,663 Malaysians under the age of 35 being declared bankrupt between 2011 and September 2015, according to the Malaysian Financial Planning Council (MFPC). Deputy president Michael Kok Fook On said this group of people fail to manage their financial resources and do not understand the importance of proper…
Insolvency practitioners have confirmed that the company operating the Devon wedding venue used by Peter Andre has ceased trading leaving brides-to-be, unpaid staff and suppliers thousands out of pocket. Mamhead House and Castle Ltd is said to owe £150,000 to a string of creditors including brides due to get married at the luxury venue. Now,…
A bankrupt haulier has been disqualified for 18 months after he encouraged his former stepdaughter to apply for an O-licence as a front for him. Sean Mullins, who traded as Sean Mullins Transport, attempted to avoid the effect the revocation of his O-licence would have on his business by persuading Kerry Mullins to make an…
Johannesburg – Road Accident Fund (RAF) chief executive Eugene Watson confirmed that the institution had been insolvent since 1981 and last week had an unfunded liability of R145 billion, which was equivalent to 3.5 percent of South Africas gross domestic product. Watson, who was appointed in 2012, told Business Report in an interview that the…