Pronovias enters insolvency proceedings ahead of its sale to Cap Capital FashionNetwork – The World’s Fashion Business News Read the original article here
Introduction The cannabis industry has been undergoing a significant wave of defaults and receivership proceedings in recent years. Faced with price compression and increased competition including from the illicit market, limited access to traditional sources of debt and capital markets, and compressed margins, many cannabis companies have found themselves unable to service their debt obligations.…
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These are your evening rugby headlines on Wednesday, May 20. Dallaglio’s bankruptcy plight continues Former England captain Lawrence Dallaglio’s financial plight is set to continue following news that his bankruptcy has been extended for a further three months, with the 2003 Rugby World Cup winner facing a new insolvency hearing in August. The 53-year-old was…
Lucien Ekamba-Elombe, 50, of Union Hall Road, Newcastle, secretly set up a new recruitment firm after his previous business collapsed and continued to act as a director despite being disqualified. He fraudulently claimed a £30,000 Bounce Back Loan under the Government’s Covid-19 scheme and used company funds to purchase two properties worth more than £190,000.…
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Lucien Ekamba-Elombe set up a phoenix company while bankrupt after failing to pay his council tax and hid his involvement behind an unwitting front man He fraudulently claimed a £30,000 Covid Bounce Back Loan he had no right to and transferred thousands to his own account Ekamba-Elombe also bought two properties using more than £190,000…
Ampler Bikes enters insolvency proceedings citing “years of market pressure” Bike Europe Read the original article here
What is the IBC?India’s Insolvency and Bankruptcy Code (IBC), passed in 2016, is the legal framework governing what happens when a company, including a real estate developer, is unable to pay its debts. The law is administered by the Insolvency and Bankruptcy Board of India (IBBI), and cases are adjudicated by the National Company Law…
Board rules that director has no standing to bring a claim on behalf of a company in liquidation. In an appeal from the Supreme Court of Mauritius, the Privy Council has dismissed two appeals by Stephen Mbugua Mwagiru, a director of Manhattan Coffee Investment Holding, ruling that he had no standing to continue litigation in…