The insolvency and restructuring profession rescued 297,000 jobs and returned 1.82bn to creditors in insolvency cases in 2019 the equivalent of around 800 jobs and 5m a day, according to a new report from R3, the insolvency and restructuring trade body. The report, The value of the profession: how insolvency and restructuring supports the UK…
Foreign investors in Chinese groups that have gone bankrupt could be given powers to liquidate assets on the mainland in a deal with Hong Kong that aims to boost business confidence in the countrys legal system. The mechanism will obligate courts in Shanghai, Shenzhen and Xiamen to recognise insolvency orders filed by company creditors in…
The Volkswagen Group has fielded an offer for its supercar brand, Lamborghini, from a Swiss-based … [+] consortium. Photo by Chaiwat Subprasom/SOPA Images/LightRocket via Getty Images SOPA Images/LightRocket via Getty Images A consortium connected to the family of the late Volkswagen Group strongman Ferdinand Piech has made a stunning 7.5 billion unsolicited bid to buy…
Katie Price is heading back to court in a bid to get out of paying off her 3.2million debt, it’s claimed. The former glamour model, 42, was declared bankrupt in 2019 and was meant to pay off 12,000 a month to her creditors after taking out an individual voluntary arrangement (IVA), but failed to do…
Eleanor Temple, Chair of insolvency and restructuring trade body R3 The insolvency and restructuring profession rescued 297,000 jobs and returned 1.82bn to creditors in insolvency cases in 2019 the equivalent of around 800 jobs and 5m a day, according to a new report from R3, the insolvency and restructuring trade body. The report, The value…
Fracsand from a processing plant in Chippewa Falls, Wisc. Steve Karnowski/ AP Photo A frac sand mining company that declared bankruptcy last year is liquidating one of four Wisconsin mines. Prior to the filing, Texas-based Hi-Crush Proppants was one of the state’s biggest producers of sand used in hydraulic fracturing for oil and natural gas.…
10:29 21/05/2021 MOSCOW, May 21 (RAPSI) The Moscow Commercial Court has declared ex-president of VIM Airlines Rashid Mursekayev and his wife Svetlana bankrupt, according to court records. The asset sale procedure has been introduced in their case for six months. In November 2020, the Basmanny District Court of Moscow issued an arrest warrant for co-owner…
A newly-released report from R3, the insolvency and restructuring trade body, shows that the profession rescued 7,200 businesses and saved 297,000 jobs in 2019. The profession advised around 60,000 businesses in 2019 about insolvency and restructuring-related issues. Four out of 10 (39%) businesses advised by R3 members were still operating after their insolvency procedure concluded,…
Fracsand from a processing plant in Chippewa Falls, Wisc. Steve Karnowski/ AP Photo A frac sand mining company that declared bankruptcy last year is liquidating one of four Wisconsin mines. Prior to the filing, Texas-based Hi-Crush Proppants was one of the state’s biggest producers of sand used in hydraulic fracturing for oil and natural gas.…
The administrator of Dewan Housing Finance Corp. has questioned the curious timing of Mumbai National Company Law Tribunals May 19 direction to the creditors committee. The order of the NCLT has the effect of disrupting the strict timelines under the insolvency code. The CoC is being compelled to vote on promoter Kapil Wadhawans settlement proposal…