Fenix, the majority shareholder of Maltese Falcon builder Perini Navi, has announced plans to save the iconic Italian shipyard from bankruptcy. The firm has signed an agreement with private equity firm Clessidra and another investor to relaunch the luxury Italian shipyard, Reuters reports. Reports add that Fenix aims to inject a significant capital increase to…
It seemsthat patience is beginning to wear thinwith our seemingly never-ending mortgage crisis. nd that position is not just held by those of a right-wing bent or those with little empathy for the plight of others. Mortgage debt campaigner David Hall is among those who think it has all been going on for too long.…
Katie explained why she loves being bankrupt (Picture: Ken McKay/ITV/REX) A recently-engaged Katie Price has insisted being bankrupt is the best thing to happen to her as she laid bare her financial struggles. The star, who revealed her engagement to Carl Woods last week, said she loves being bankrupt as it means no one can…
Insolvency Of Personal Guarantors To Companies: An Atmosphere Of Uncertainty Top Begin typing your search above and press return to search. Read the full article at: https://www.livelaw.in/law-firms/articles/insolvency-personal-guarantors-companies-uncertainty-173206
Scores of ‘zombie companies’ have been kept alive in order to receive final government stimulus measures before being shut down, according to a leading insolvency expert. Revive Financial partner Jarvis Archer said the “clean up” of zombie companies was under way with an increase in liquidation appointments across a range of industries. A ‘zombie company’…
Paul Rossi was a director of Independent Derivative Traders Ltd, which traded as Futex and provided access to a financial markets trading platform for sub-contracted independent traders. The company was jointly managed by Rossis brother Mark Rossi and Daniel Goldberg. Independent Derivative Traders was incorporated in March 1995 but 11 years later in February 2016,…
Small businesses that have accepted government support in the form of CBILS and Bounce Back Loans may find themselves at a crossroads as they seek a way through distress into recovery. We speak to Rebecca Dacre, Partner at Mazars, and a licensed insolvency practitioner. I work with privately owned businesses lots of them are family…
Newly-engaged Katie Price celebrated bankruptcy as the “best thing that’s ever happened to me”. Once worth a staggering 45million, the former glamour model revealed her bankruptcy has allowed her to have the last laugh. In a new interview, the mother-of-five said everyone who tried to get “everything” out of her “financially” no longer can take…
Introduction Composition of inventory Function of inventory Deficit Introduction Article 192 of the Consolidated Text of the Bankruptcy Law (TRLC) introduces the concept of the ‘active mass’ of a bankruptcy, which constitutes all of the assets and rights integrated into the bankrupt’s assets on the date of the declaration of bankruptcy, as well as those…
The Australian government helped businesses during the COVID-19 pandemic last year by temporarily suspending some business directors’ duties relating to insolvency risks. However, directors’ obligations have reverted to the standard insolvency liability regulations this year. The government’s 2020 insolvency relief, a part of the Australian Coronavirus Economic Response Package Omnibus Bill, aimed to prevent insolvent…