The reprieve is over. A year-long waiver on insolvency filings has ended in Germany and there are already signs that bankruptcies are starting to pick up in Europe’s largest economy. Germany introduced the waiver last March, when the COVID-19 pandemic hit, part of a package of measures aimed at supporting businesses but which gave rise…
This would protect a company from claims being brought while its pursuing a scheme, Ashurst insolvency partner Alinta Kemeny said. US Chapter 11 Ms Kemeny said the current schemes of arrangement framework already allowed for a debtor-in-possession model, but a costly court-driven process meant it was primarily used only by large corporations. The Ashurst partner,…
Australian Treasury As part of our economic recovery plan, the Morrison Government is pursuing further measures to improve Australias insolvency framework for both small and large businesses. In the 2020-21 Budget, the Government announced the most significant reform to Australias insolvency framework in 30 years. These reforms, which came into effect on 1 January 2021,…
Insolvent Laurentian University has cleared a critical obstacle to move forward on its plan for eventual financial stability after a judge on Sunday agreed to the terms of a stay that would protect the university from its creditors until Aug. 31. Justice Geoffrey Morawetz of Ontario Superior Court has agreed to allow the university to…
By David Milliken 3 Min Read LONDON (Reuters) – Company insolvencies in England and Wales fell to their lowest level in more than 30 years during the first three months of this year, as government support measures helped businesses hit by the coronavirus pandemic to ward off bankruptcy. FILE PHOTO: A woman exercises with a…
KATIE Price is looking to buy two more horses – despite being made bankrupt. Katie, 42, is hoping to snap up a new dressage horse from overseas and has also been looking at ponies for her youngest daughter Bunny, six. 6 Katie Price wants to buy a new horse from HollandCredit: Getty Images – Getty…
The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Official Statistics. Designation can be broadly interpreted to mean that the statistics: meet identified user needs; are well explained and readily accessible; are produced…
Company insolvencies in England and Wales fell to their lowest level in more than thirty years during the first three months of this year, as government support measures helped businesses hit by the pandemic to ward off bankruptcy. Britain suffered its sharpest fall in economic output in more than three centuries last year, but government-backed…
A summary of the legal and regulatory framework for consumers All insolvency practitioners are expected to follow and comply with a legal and regulatory framework, which ensures that there is an effective insolvency profession that delivers fair outcomes for the people and businesses impacted by their work. The legal framework includes the Insolvency Act 1986…
By David Milliken LONDON (Reuters) – Company insolvencies in England and Wales fell to their lowest level in more than 30 years during the first three months of this year, as government support measures helped businesses hit by the coronavirus pandemic to ward off bankruptcy. Britain suffered its sharpest fall in economic output in more…