Pre-pack insolvency for MSMEs now a reality – BusinessLine

The Centre has taken the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs). India has 6-7 lakh companies that are classified as MSMEs, which could potentially benefit from the newly-introduced pre-packaged insolvency framework. A pre-packaged insolvency in the Indian framework context is an arrangement…

Now, a pre-packaged insolvency process for MSMEs – BusinessLine

The Centre has used the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs). India currently has about 6-7 lakh companies classified as MSMEs, and potentially these many could benefit from the newly introduced pre-packaged insolvency framework. In the Indian framework context, a pre-packaged insolvency…

Inside AFL great Brendan Fevola’s comeback as he sells $2.2M Melbourne home – Daily Mail

From bankrupt gambling addict to multi-millionaire: AFL great Brendan Fevola and his ex-wife turned fiance sell their $2.2million Melbourne property and move into a lavish home Fevola and his fiancee Alex offloaded the Brighton East property for $2.2million They then splashed $3million on a five-bedroom home in Hampton, Melbourne The 40-year-old Lions great bounced back…

Pandemic reduces the cost of parliamentary expenses – The New Daily

There may be an upside to the COVID-19 pandemic at least for taxpayers. The Independent Parliamentary Expenses Authority says it administered parliamentary travel expenses of $42.7 million in 2019/20, down from $59.8 million the previous year. The authority attributes the change to MPs travelling less during the pandemic. The figure was revealed in an auditor-general…

Pandemic-Related Insolvencies Reveal International Arbitration Issues – Bloomberg Law

The global pandemic has devastated companies large and small, particularly in sectors such as travel, hospitality, and entertainment, but also in the blue-chip domains of manufacturing, retail, and energy. For many businesses, a sharp decline in revenue led to a liquidity crunch severe enough to threaten debt service and raise the specter of bankruptcy. Some…