The insolvency watchdog has proposed a raft of regulatory changes, including a two-staged approval process for rescue plans, part-sale of stressed firms and a new mechanism to handle bankruptcy of interconnected entities of a corporate group, to speed up resolutions and prevent the erosion of toxic asset value. In a discussion paper, the Insolvency and…
Getty Images Christine Jiaxin Lee used the error to buy luxury goods, authorities had claimed Australian prosecutors have dropped charges against a Malaysian woman who allegedly withdrew A$4.6m (£2.6m; $3.5m) following a banking error. Christine Jiaxin Lee, 22, was alleged to have spent much of the sum on luxury items, such as jewellery and handbags.…
No COMI? No big deal! Hong Kong courts reaffirm their position on recognition of foreign insolvency proceedings Taylor Wessing Read the original article here
Significantly more company bankruptcies in Switzerland Keystone-SDA Listen to the article Listening the article Toggle language selector … Read the original article here
Customers complained they did not receive the kitchens they had paid deposits for to Smart Choice Kitchens Limited and Empire Kitchens and Bathrooms Limited A phoenix company, Connect Kitchens Limited, was suspected of being set up to continue the same operation The three companies, connected by a shared director, were shut down in court following…
Significantly more company bankruptcies in Switzerland Keystone-SDA Listen to the article Listening the article Toggle language selector … Read the original article here
Significantly more company bankruptcies in Switzerland Keystone-SDA Listen to the article Listening the article Toggle language selector … Read the original article here
Why the company account is not your personal piggy bank – and your personal expenses are not tax deductible MSN Read the original article here
Two former pilots of SpiceJet Ltd have approached the Delhi bench of the National Company Law Tribunal (NCLT), seeking to declare the airline bankrupt over unpaid dues totalling ₹3 crore. The petition, alleging that the no-frills airline failed to pay salary arrears, deferred payments, final settlements, allowances, and overtime dues, adds to SpiceJet’s ongoing litigations…
Indian buyers who wait for their homes for years after a developer goes bankrupt have a reason to hope: they can now get their properties even as the case winds through courts. The Insolvency and Bankruptcy Board of India (IBBI) has amended its regulations, allowing administrators of bankrupt real estate companies to hand over plots,…