This year, the federal government passed a range of new legislation to help small businesses withstand the effects of the COVID-19 pandemic. While some of these initiatives are familiar, such as JobKeeper and changes to insolvency, from January 1, 2021, important changes will occur. Here are four changes SMEs need to know. 1. JobKeeper extension…
Bourbon Arctic – Bourbon photoBy The Maritime Executive 12-16-2020 06:33:36 The Commercial Court of Marseilles approved the recovery plan for Bourbon Maritime after an agreement was reached with the creditors. The decision completed the reorganization proceedings that began nearly 18 months ago. The company expects to complete the financial and capital restructuring of the group…
Member Article Corporate insolvencies increased by 4% to 889 in November 2020 compared to Octobers figure of 862, and were 41% lower than November 2019s figure of 1,512. Personal insolvencies fell by 22% in November 2020, with 9,319 compared to Octobers figure of 11,945, and were 3% lower than November 2019s figure of 9,568. Eleanor…
Heres two contradictory datasets: one from the Citizens Advice Bureau, reporting that 600,000 more people are falling into ruinous debt, unable to pay their energy bills; the other from the UK Insolvency Service revealing that individual bankruptcies and debt relief orders have fallen over the last year, and dramatically so. Yet both paint an accurate…
123RF Auckland property developer Andrew Montgomerie has been made bankrupt after failing to pay his brother back A man has bankrupted his brother after he failed to repay a $1.2million loan. James Montgomerie, a Florida-based businessman, in 2011 loaned the sum to his brother, Andrew Montgomerie, an Auckland property developer. Andrew had run into financial…
Lee Davis (55), of Blyth, Northumberland, appeared at Newcastle Crown Court on Friday (11 December) before Judge Prince where he was sentenced to six months imprisonment suspended for 12 months. The court heard that Lee Davis was declared bankrupt in April 2016 following a petition by the tax authorities having failed to pay taxes he…
More than 60 per cent of corporate insolvency resolution processes that achieved closure in July-September 2020 have ended up in liquidation. The data by the Insolvency and Bankruptcy Board of India (IBBI) shows 68 cases ended up in liquidation of the total 112 closed cases during the period. While a number of cases faced liquidations…
Ukraine Cases: 909,082 Deaths: 15,480 Recovered: 522,868 Worldwide Cases: 73,292,455 Deaths: 1,630,581 Recovered: 51,435,881 You’re reading: Misto Bank declared insolvent, state estimates recovery of 60% of deposits X Dear reader,This is a friendly reminder that you should switch off your ad-blocker while visiting the Kyiv Post.We respect and understand your choice to avoid advertising, but…
Photo by Markus Winkler Originally Posted On: Bankruptcy FOLSOM LAWYERS (weebly.com) Benefits of Hiring a Bankruptcy Lawyer Bankruptcy is a legal process initiated by a person or business that cannot settle their debts and wants to have the debts cleared or restructured by the courts. An entity is declared bankrupt when it becomes insolvent. Reorganization…
Unsplash In November of this year, a total of 131 companies were declared bankrupt in Luxembourg according to the latest count from the Ministry of Justice / STATEC. During the month of November the Luxembourg courts declared 131 bankruptcies there 104 bankruptcies during the same period in 2019. Over the first eleven months of 2020,…