New York-based Anchorage Capital Group has acquired a slice of debt in collapsed law firm Slater & Gordon, as first reported by Street Talk on Sunday. The news comes after this column revealed on November 7 that Citigroup had offloaded its Slater’s exposure at just 38¢ in the dollar to an unnamed syndicate. It has since emerged Anchorage was one of…
SCOTLAND must clamp down on its insolvency industry amid concerns of “potential mis-selling”, a new report warns. More than a thousand debt-ridden Scots went bust last year – many losing their homes – despite entering in to legally binding deals arranged by under-regulated firms, according to the Govan Law Centre. The Glasgow-based not-for-profit in an…
Nova Scotian personal bankruptcies are on the rise, according to the latest monthly statistics. The Office of the Superintendant of Bankruptcy Canadas report on September insolvency in Canada shows that personal bankruptcies in Nova Scotia increased by 3.8 per cent to 553 from August. Personal bankruptcies were 12.5 per cent higher in September, compared to…
An Aruban court has officially declared Tiara Air (3P, Aruba) bankrupt following a motion filed earlier this month by several disgruntled employees claiming unpaid back wages. According to local news outlet Noticiacla, the ruling was issued on Monday, November 28. In it, the judge agreed with the applicants that given continuing uncertainty surrounding the airline’s…
FOUR years ago, Sunshine Coast developer Scott Juniper raced after the family Range Rover as it was being repossessed to get his daughter’s baby seat out of the back. Only weeks earlier, he had obtained the paperwork to register for active bankruptcy with debts totalling $72 million. He handed in the paperwork on his 40th…
New Delhi, Nov 30: With insolvency professional agencies getting registered, the Insolvency and Bankruptcy Code will become operational from tomorrow. The Code will help quicker resolution of cases and unlock the value of assets, Mamta Binani, President, ICSI, the apex body of company secretaries, told reporters here today. The entire Insolvency and Bankruptcy Code will…
FOUR years ago, Sunshine Coast developer Scott Juniper raced after the family Range Rover as it was being repossessed to get his daughter’s baby seat out of the back. Only weeks earlier, he had obtained the paperwork to register for active bankruptcy with debts totalling $72 million. He handed in the paperwork on his 40th…
18:43 01 December 2016 The Insolvency Service said the company had not paid taxes in five years (c) Stockbyte The county court has banned a 59-year-old Bury St Edmunds builder from directing a company after he dodged taxes and failed to keep accounting records. … Read the full article at: http://www.eadt.co.uk/news/stephen_martin_from_bury_st_edmunds_banned_from_being_a_company_director_for_eight_years_1_4801646
Sometime in 2015, the Supreme Court ruled that a secured creditor must obtain the approval of the insolvency court before he can foreclose a mortgage. Briefly, sometime in 1997, Spouses Rommel Naguiat and Celestina Naguiat and S.F. Naguiat Enterprises, Inc. executed several real estate mortgages in favor of the Metropolitan Bank and Trust Company (Metrobank)…
Sometime in 2015, the Supreme Court ruled that a secured creditor must obtain the approval of the insolvency court before he can foreclose a mortgage. Briefly, sometime in 1997, Spouses Rommel Naguiat and Celestina Naguiat and S.F. Naguiat Enterprises, Inc. executed several real estate mortgages in favor of the Metropolitan Bank and Trust Company (Metrobank)…