Small and medium-size enterprises are considered the backbone of the American and European economies. In Australia, approximately 95 per cent of all businesses are SMEs. Therefore, it is a reasonable assumption that the vast majority of formal insolvencies are also SMEs. When companies get to the point where they are insolvent, there are typically two…
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here. AS Pro Kapital Grupp has not yet published audited annual report for 2020 (related notice:https://view.news.eu.nasdaq.com/view?id=b9a14c4af26fbcf29852a28f2d4144b75&lang=en). However, the Company is using unaudited financial statements as basis of preparation in this report. All details related to this issue can be find in Note 2…
The sub-prime lender Amigo faces potential collapse after confirming that it will not appeal against a high court decision that blocked a scheme to cap customer compensation. Amigo, which charges 49.9% interest and requires borrowers to provide a friend or family member to act as a guarantor, said it would consider all options and was…
Liquidation of a company means the legal way of ending the company in which assets are discharged and sold out to repay the creditors whereby the business is closed and its name is removed from the record of the Company Registrars Office (OCR). In Nepal, the major law governing the liquidation process of a company…
On May 21, 2021, the Supreme Court dismissed pleas on 75 petitions challenging the notification including that on Anil Ambani, Sanjay Singhal, Venugopal Dhoot, Kapil Wadhawan and 45 other industrialists. (The Supreme Court had declared the notification issued by the Union government under Insolvency and Bankruptcy Code, on November 15, 2019 as legal and valid).…
The approval of the Resolution Plan in CIRP requires a minimum 66% of the voting share of members of the Committee of creditors By Ashok Kumar Gulla The Insolvency and Bankruptcy Code, 2016 (IBC Code) enacted on May 28, 2016, provides for invitation of resolution plans from Prospective Resolution Applicants (PRAs) for revival of the…
T.C. | In Spain, 2,086 companies declared insolvency between January and April this year, an increase of 71% compared to 1,217 a year earlier, according to data published in the Official State Gazette and analysed by Iberinform. The strongest growth was in April, when 552 insolvencies were declared, compared to 41 in April last year,…
An Analysis Of The Supreme Court Verdict On Insolvency And Bankruptcy Of Personal Guarantors Of A Corporate Debtor Top Begin typing your search above and press return to search. Read the full article at: https://www.livelaw.in/columns/supreme-court-insolvency-and-bankruptcy-2016-174760
Lenders To Initiate Insolvency Proceedings Against Personal Guarantors Top Begin typing your search above and press return to search. Read the full article at: https://www.livelaw.in/law-firms/articles/lenders-insolvency-proceedings-personal-guarantors-174833
Taxpayers face a legal bill for at least 8m as a result of the official receivers disastrous attempt to ban the Kids Company founder Camila Batmanghelidjh and seven fellow charity trustees from holding senior jobs, it has emerged. The bill follows a three-and-a-half-year legal case, in which a court threw out claims by the official…