About a third more companies went bankrupt in October compared … – NL Times

The number of businesses declared bankrupt decreased slightly in October compared to the previous month, but business bankruptcies are still rising on an annual basis, according to Statistics Netherlands (CBS). Some 292 companies, institutions and sole proprietorships were declared bankrupt last month, a third more than in October 2022, once the data was corrected to…

SC ruling on personal guarantors could be a wake-up call for Indian promoters | Mint – Mint

The Supreme Court on Thursday allowed banks to launch insolvency proceedings under the Insolvency and Bankruptcy Code or IBC against those who had furnished personal guarantees for loans taken by companies that have defaulted. This ruling, a blow to many promoters, is significant more so because it again signals a shift in favour of Indian…

Future Enterprises insolvency: Jindal (India) emerges as the sole bidder for Kishore Biyani's company, says report – Business Today

Jindal (India), which is part of the BC Jindal Group,  has emerged as the sole bidder for Kishore Biyani’s Future Enterprises Limited (FEL). According to a report in Economic Times, Kolkata-based steel tubes and pipes maker Jindal’s plan was the only one that was submitted to the creditors till last week. November 10 was the…

NZ workers have few protections if their employer goes bust fixing … – The Conversation

When independent supermarket startup Supie went bust last month, the companys 120 employees were told they wouldnt be paid for their last two weeks of work, or receive any of their owed annual leave pay. The subsequent appointment of voluntary administrators again highlighted New Zealands limited protection for employees when their employer becomes insolvent. Supies…

McGill and Partners unveils new corporate insolvency solution – Insurance Business America

In most situations it is the company which contracts for, procures, and facilitates the provision of D&O insurance for its directors and officers, but in the case of a corporate insolvency the company cannot fulfil this function. SAIFElimits addresses a number of significant consequences of this change, optimising coverage and liability protection and preserving limits…

Another scandal rocks Miss Universe pageant – news.com.au

The company behind the global Miss Universe competition has filed for bankruptcy just a week out from its international beauty pageant. Overnight, Thailand-based JKN Global Group submitted a petition for business rehabilitation into a Thai court. Thats the nations equivalent of declaring bankruptcy and securing the protections that come with it, including urgently restructuring the…

Personal guarantors can face insolvency proceedings: Supreme Court – IndiaTimes

NEW DELHI: The Supreme Court on Thursday upheld the constitutional validity of various provisions of Insolvency and Bankruptcy Code (IBC), including Section 95, which allows creditors to initiate insolvency proceedings against personal guarantors.A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Mishra rejected a plea against the provisions of…

Safe Harbour demystified: Joe Hayes unveils Wexted Advisors … – ShareCafe

Paul Sanger: I am Paul Sanger for the Finance News Network, and today I’m talking with Joe Hayes, manager, director of Wexted Advisors. Wexted Advisors is an independent and specialized restructuring advisory firm that assists clients facing or exposed to business challenges, or confronting complex transactions or situations. Joe is also an ex-partner of KPMG and…