Finance Minister Michael Noonan was strongly opposed to changes designed to help struggling mortgage holders just months before they were approved. Changes to the personal insolvency legislation which removed banks ability to veto repayment solutions involving a persons home were announced last May. Less than three months earlier, however, Mr Noonan warned of the unintended…
Comments AA It stands to reason that people who have watched Hostel, a 2005 horror film that depicts a young man inhumanly tortured in a dark basement, are more likely to avoid budget lodgings. In a similar vein, research has found that those who have lived through the global financial crisis are more likely to…
MUMBAI/CHENNAI: In a relief to Batelco Group, Bahrain based global telecoms company, the Madras High Court has directed serial investor Chinnakannan Sivasankaran, his relatives and his flagship company Siva Ltd not to sell or to create any third party rights on some of their Indian assets until February 22. The values of these movable and…
Romania’s InterAgro Companies Declared Insolvent Global AgInvesting Read the original article here
Feb 15 Bulgaria’s central bank on Monday launched an independent asset quality review of commercial banks in an effort to restore trust in the banking system after the collapse of its fourth-largest lender in 2014. The central bank has approved auditors who will check the credit portfolios of the 22 banks that operate in the…
Current Insolvency provisions under the Australian Corporations Act impose a duty on Directors not to trade while insolvent, but also not to trade in a manner that will lead it to insolvency. Although this may not appear too onerous an obligation, it can actually be trickier than it seems. Some companies regularly flirt with insolvency,…
The taxman and small businesses face losing out on millions of pounds after clothing retailer Blue Inc used a controversial insolvency procedure to close loss-making stores. HMRC could lose £3m and suppliers £31.6m after Blue Inc, which also owns the Officers Club, used a pre-pack administration to get rid of 76 stores and cut 500…
Under the feudal mode of production, peasants were often allowed to cultivate plots of land for themselves on a rental basis. However, those tenant farmers rarely succeeded in becoming landowners in their own rights because a major share of what they harvested was taken away by landlords as rent, often leaving them with a bare…
Nathan Tinklers company Australian Pacific Coal has taken a crucial blow, with Tinkler stepping down from the board over a new bankruptcy ruling. Newcastle Herald reported that a Federal Court judgement found Tinkler bankrupt over the sale of a luxury jet. Trading in Australian Pacific Coal shares was suspended on Tuesday following the ruling. Tinkler…
On Feb. 11, German Pellets GmbH announced a German court has appointed a provisional insolvency administrator with regard to insolvency proceedings that have been initiated against the assets of the company. A statement issued by German Pellets indicates the insolvency court in Schwerin, Germany, has appointed Bettina Schmudde, a lawyer with the firm Kanzlei White…