Australian Institute of Credit Management Press release for 2021 Risk Report Businesses buoyed by Government stimulus to face cashflow pressures in coming months Corporate and personal insolvencies have declined to record low levels following the implementation of COVID-induced temporary protections, according to the 2021 AICM Risk Report. Drawing on data insights and the AICMs network…
The Northern Ontario School of Medicine building on the Laurentian University campus in Sudbury, Ont., on Feb. 1, 2021. Gino Donato/The Globe and Mail Tenured professors at Laurentian University expect to know Monday whether they will be laid off as part of an extraordinary restructuring aimed at cutting costs at the insolvent and debt-burdened school.…
With any business, no matter what its size, potentially facing a reversal of fortune, innovative thinking can be as important to your companys survival as capital. The business challenges of the past 12 months have brought into focus that any director or manager can be too close to their own business; so close in fact…
Introduction Inclusions Exclusions Active mass of married persons 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…
A number of cruise ships sit laid up awaiting their fate due to the COVID-19 pandemic, whether its a new brand and a return to cruising, or the eventual demolition market. SatoshiCapacity: 1,590Tonnage: 70,000Year built: 1991 The Satoshi (pictured above) seems to have escaped the breakers after being sold to new owners. Previously Alang-bound, the…
Image source: Getty Images Share this page: What is insolvency? What does it mean to be insolvent? And how does insolvency differ from bankruptcy? If youve ever found yourself pondering these questions, then this article is for you. Well tell you everything you need to know about insolvency and the consequences it could have for…
Allan Kenneth Barke (34), of Stockport, appeared at Chester Crown Court before HHJ Everett on 1 April where he was banned from acting as a company director for 8 years. The court heard that Allan Barke had been director of Cheshire Fitted Furniture Limited from its incorporation in November 2014 until September 2015. The furniture…
Beyond Debt Thousands of Sole Traders will have no choice but to file for Bankruptcy, according to Beyond Debts Ben Paris. The government thresholds for Debt Agreements, an alternative to Bankruptcy, are too low at $118,063.40 and the three years term too short to assist many. There are 912,411 Sole Traders, the most common business…
The UK government has extended its suspension of various rules and procedures affecting distressed businesses as a result of the coronavirus (COVID-19) pandemic. However, with the UK lockdown easing on a rolling basis up to 21 June 2021, these may be the last of the blanket extensions across all of these areas. Expect the gradual…
Owners of micro, small and medium enterprises (MSMEs) going into bankruptcy proceedings under a simplified regime rolled out this week could lose their business in certain cases if they do not match a better offer from a potential investor. The Insolvency and Bankruptcy Board of India (IBBI) is currently framing regulations under the new bankruptcy…