Category Archives: Bankruptcy

Review civil servants’ salary deduction cap, says insolvency department chief – Free Malaysia Today

Review civil servants’ salary deduction cap, says insolvency department chief  Free Malaysia Today Read the original article here

Allianz Trade warns of surge in global business insolvencies

Meanwhile, France and the UK are expected to see moderate declines of 6% in 2025, with further drops in 2026. In contrast, Italy is projected to see continued increases, while business failures in China will rise from low levels, with gains of 5% and 6% in 2025 and 2026, respectively. Read the original article here

Entrepreneur behind LNP donations backed David Crisafulli to head Southern Edge Training, court documents reveal

A soccer-loving businessman behind LNP election donations told a court he helped introduce Opposition Leader David Crisafulli to run a training company that later collapsed. The testimony, contained in transcripts obtained by the ABC, has emerged after Mr Crisafulli this month denied the failed business had links to the LNP or donors. The businessman was…

Enron scandal | Summary, Explained, History, & Facts

Founding of Enron and its rise Enron was founded in 1985 by Kenneth Lay in the merger of two natural-gas-transmission companies, Houston Natural Gas Corporation and InterNorth, Inc.; the merged company, HNG InterNorth, was renamed Enron in 1986. After the U.S. Congress adopted a series of laws to deregulate the sale of natural gas in…

Exclusive Supply Agreement Does Not Establish Creditor-Debtor Relationship Under IBC: NCLT

In accordance with Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), the National Company Law Tribunal (NCLT), located in Delhi, has ruled that a petitioner cannot start the Corporate Insolvency Resolution Process (CIRP) if the parties’ business arrangement entails profit-sharing and joint participation rather than a simple operational debt. According to the Tribunal,…

Provisional liquidators appointed to Cork medical supplies company

Provisional liquidators have been appointed to a Cork-based medical supplies company that alleges it is owed €1.2m by the HSE. PMD Device Solutions Ltd petitioned the High Court for the appointment on Friday, acknowledging it is “clearly insolvent”, with more than €14.6m in liabilities set against €4.6m in assets. The company, with a registered office…