Creditors vote Wednesday on THAI rehab plan Some stakeholders reject debt haircuts Thai Airways aircraft remain grounded at Suvarnabhumi airport as the airline’s creditors vote on Wednesday whether to accept its debt rehabilitation plan. (Photo byApichit Jinakul) If Thai Airways International Plc (THAI) were to go under on decision day, which is Wednesday, creditors would…
Photograph: Shutterstock Acknowledging its taking a tremendous risk, fast-casual chain Cosi asked a judge this week to dismiss its bankruptcy case so it can apply for the Restaurant Revitalization Funda plan approved Tuesday by the court. Early this month, Cosi asked a U.S. Bankruptcy Court judge in Delaware to speed up its bankruptcy proceedings so…
Creditors vote today on THAI rehab plan Some stakeholders reject debt haircuts Thai Airways aircraft remain grounded at Suvarnabhumi airport as the airline’s creditors vote today whether to accept its debt rehabilitation plan.Apichit Jinakul If Thai Airways International Plc (THAI) were to go under on decision day, which is today, creditors would only be paid…
NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution process, have submitted revised bids and improved their offers for financial creditors. TopicsNBCC|Jaypee Infra insolvency|Jaypee Infra State-owned NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution process, have submitted revised…
As the COVID-19 crisis continues to hurt economic activity, promoting and encouraging the rehabilitation of distressed but potentially viable businesses should be at the top of lawmakers priorities.But many insolvency systems fall short in moving quickly to save viable businesses. This is in part because bankruptcy carries social stigma, which encourages debtors to delay recognition…
This is the final part of our three-part series on revenue clawbacks. The scenario: a customer or teaming partner goes bankrupt and then they (or a trustee) demand you return money they already paid you for services or goods duly rendered. In the first entry, we discussed the definition of preferences and the policy purpose…
As the first May bank holiday weekend began, the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (the Regulations) were enacted and came into effect for all companies entering administration on or after April 30, 2021. The Regulations are, in the main, a policy response to enhance independent scrutiny of so called phoenix…
By David Milliken 2 Min Read LONDON, April 15 (Reuters) – More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic. Britains economy shrank by almost 10% last year and…
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,…
A Western Australian man behind a betting scheme has been declared bankrupt with his assets frozen as investors chase up to $126 million. Chris Brown, 27, claims to have made winnings through a hedging betting model, capitalising on odds shortening before the jump. 9 News reported he regularly sent those investing in the scheme screenshots…