Crippling interest rates and sky-high prices of everyday items, from a bag of concrete to a cup of coffee, are behind record business insolvencies in Australia, research shows. The collapsing outlook for business, especially small companies, has been highlighted in CreditorWatch’s business risk index. In the year to May, insolvencies reached a record high of…
In a relief to homebuyers who had been given possession of their homes but were left in a lurch after the builder’s company was declared insolvent, the Insolvency and Bankruptcy Board of India, in its latest amendment, has said that assets in a real estate project that have been handed over to the allottees would…
In a shocking turn of events that has left Britain’s third-most decorated Olympian “embarrassed”, Sir Bradley Wiggins, who was declared bankrupt last week, has been forced to sleep on the couches of friends and families and is basically homeless, after his lawyer revealed that he “has lost lost absolutely everything” and “doesn’t have a penny”. News…
Even as the Insolvency and Bankruptcy Board of India (IBBI) is overseeing project-wise insolvency process in the real-estate sector, a facility not available to other sectors, experts say that there is a need for a detailed framework, with statutory backing, to make it more effective. The Insolvency and Bankruptcy Code (IBC), 2016 would require to…
New UAE Bankruptcy Law – Key Features You Need to Know | Akin Gump Strauss Hauer & Feld LLP
Salmon producer declared bankrupt by Chilean court IntraFish Read the original article here
The debts of a collapsed group of NSW businesses have blown out to almost $23 million, while other subsidiaries have quietly gone under in recent weeks. News.com.au reported in April that a western Sydney factory had closed down and all workers had been terminated on the spot. It comes after two companies linked to the…
Corporate bankruptcies in Russia rose sharply in the first two months of 2024. Russia has imposed two moratoriums on bankruptcy in recent years, both of which have now expired. High interest rates and macroeconomic instabilities are adding pressure on the private sector. Russia’s economy appears resilient after two years of war with Ukraine, but a…
Topline Red Lobster announced late Sunday it filed for bankruptcy, days after it began shuttering dozens of restaurants— after years of struggling with ownership turnover, plateauing sales and financial issues exacerbated by debt, the pandemic and an all-you-can-eat shrimp deal. The seafood restaurant chain announced it filed for Chapter 11 bankruptcy Sunday, less than a…
NCLAT Halts Insolvency Proceedings Against Coffee Day Enterprises NDTV Profit Read the original article here