European Court of Justice Issues Preliminary Ruling on Slovenian VAT Reduction Rules for Debts – Bloomberg Tax

The European Court of Justice (ECJ) June 11 issued a preliminary ruling for Case No. C-146/19, stating that EU principles under the common VAT system prevent the Slovenian denial of a reduction of the VAT base for an insolvent company. A taxpayer filed for insolvency, and after the bankruptcy concluded a Slovenian tax agency audit…

Potential ‘avalanche’ of small company wind-ups looms – The Australian Financial Review

Treasurer Josh Frydenberg and his department, financial regulators, banks, business groups and insolvency practitioners are consulting on the planned roll-off of the measures. One suggestion has been to extend by a few months the moratorium on directors being liable for insolvent trading, or to prolong the time companies have to respond to demands from creditors…

‘Absolutely insane’: Hertz, despite bankruptcy, allowed to sell $1b. in shares – The Times of Israel

WASHINGTON In a move that some bankers and commentators have called insane, coronavirus-hit car rental company Hertz was granted permission Friday to sell $1 billion in shares, an extraordinary move after it declared bankruptcy in the United States and Canada. The unusual green light was given by a bankruptcy court in the US state of…

Why people are buying bankrupt stocks like Hertz, and everything else you missed in business news: CNBC After Hours – CNBC

CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC’s Dominic Chu breaks down why traders have bought so much stock in bankrupt companies like Hertz and J.C. Penney, and how it can quickly become a losing game. Also, CNBC’s Elizabeth Schulze explains how empty sports stadiums pose an imminent…

‘Calm before the storm’ as bankruptcy numbers fall during lockdown – The Independent

Calm before the storm as bankruptcy numbers fall during lockdown | The Independent Independent Premium Drop in insolvencies linked to government bailoutand reduced court sittings More economic turbulence expected as GDP plummets by over 20 per cent ( Getty Images ) … Read the full article at: https://www.independent.co.uk/independentpremium/coronavirus-bankrupt-lockdown-debt-insolvency-service-a9563991.html

Bankrupt Hertz gets approval to sell up to $1 billion in stock but experts expect equity to be wiped out – MarketWatch

The market dislocation wrought by the coronavirus pandemic has a poster child in Hertz Global Holdings Inc. A bankruptcy court late Friday approved Hertzs HTZ, +37.37% request to sell up to $1 billion in stock. The car-rental company appears to be seizing on a wave of intense, speculative interest in its shares since it declared…