Although there is a provision in the section 233 of the Code that no suit, prosecution or other legal proceeding shall lie against the insolvency professional, liquidator and other officials of IBBI for anything which is done in good faith under the Code, professionals feel that it is too hard to prove that a particular…
A firm has sold a business serving around 4,000 sick and elderly people for £2 Mitie agreed to pay to offload its loss-making arm, which provides home care It was losing over £1million a month from its firms Enara and Complete Care The company blames the national living wage and local authority budget cuts By…
Australian businesses are set to experience an increase in insolvencies this year as a result of another difficult economic year, according to the recently-published Atradius Economic Outlook. The likely 2% increase in insolvencies puts Australia in step with the UK and Canada. The improving trend in the business environment across Australia and other advanced economies is…
Bad relationship between Christian Candy and brother’s wife revealed in court Emma Holyoake giving evidence in case brought by husband against Candys Said: Holly told me that Christian did not approve of her relationship with Nick’ By Rory Tingle For Mailonline Published: 12:17 +11:00, 1 March 2017 | Updated: 12:33 +11:00, 1 March 2017 e-mail…
Amendments to Singapore’s corporate debt restructuring legislation were tabled in Parliament yesterday, as the Government pushes to update the insolvency framework to help a growing number of ailing companies work out their debts in a weak economic climate. It is also part of efforts to position Singapore as a debt restructuring hub and augment its…
After eight years of legal struggle among state regulators, investors and policyholders, Commonwealth Court Judge Hannah Leavitt on Wednesday signed off on a plan to liquidate Penn Treaty Network America Insurance Co. and its affiliate American Network Insurance Co. of Allentown. That decision leaves solvent insurers, their owners and customers to pick up the cost…
Gomer Press staff ‘leave over restructuring process’ 1 March 2017 From the section Mid Wales Eight members of staff have left Gomer Press because of alleged discontent over a restructuring process, BBC Wales understands. A source said employees in the publishing department were told they must apply for new posts as their current roles will…
It is difficult to see the political or economic landscape changing in the short to medium term in order to alleviate the increasing cost pressures that restaurants now face. However, if advisers can be approached early enough, then careful pre-planning and an understanding of some of the legal and commercial complexities of this particular business…
NORTHERN Rivers residents are starting to pay off their debts as new figures revealed less people declared bankruptcy in 2016. The latest figures from the Australian Financial Services Authority showed 35 bankrupt debtors including nine business-related and 26 non-business related insolvencies in the December quarter. Over the whole year 158 people declared bankruptcy compared with…
NORTHERN Rivers residents are starting to pay off their debts as new figures revealed less people declared bankruptcy in 2016. The latest figures from the Australian Financial Services Authority showed 35 bankrupt debtors including nine business-related and 26 non-business related insolvencies in the December quarter. Over the whole year 158 people declared bankruptcy compared with…