Friday, November 6, 2020 Introduction By the fourth amendment to the Insolvency and Bankruptcy Code, 2016 (IBC), Section 32A was introduced. Section 32A states that any liability of the corporate debtor for an offence committed prior to or during corporate insolvency resolution proceedings (CIRP) will stand extinguished from the date the resolution plan is approved…
EXCLUSIVE: Dawn French and Jennifer Saunders are shuttering their production company, Saunders & French Productions, after it has been operating for more than 28 years. The UK comedy heroes first set up their TV company in 1992 and it co-produced the iconic BBC series Absolutely Fabulous, which was adapted into a movie by BBC Films…
State Rep. Richard McGrew, right, draws for a ballot position at the Garland County Election Commission building on Nov. 15, 2019. – File photo by Richard Rasmussen of The Sentinel-Record State Rep. Richard McGrew, R-District 22, of Piney, is ready to stop campaigning and start legislating. The House race he won by a three-to-one margin…
MILAN Another style icon of the Eighties risks disappearing from the fashion map. Denim brand Rifle, which celebrated its 60th anniversary in 2018, has been declared bankrupt by a court in Florence, Italy. Established by Tuscan brothers Giulio and Fiorenzo Fratini, who in the late Forties started importing denim cloth from North Carolina, the brand…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 34 bankruptcies in week 44, 8 fewer than in week 43. In addition, 6 sole proprietorships were declared bankrupt, 2…
Published 5 November 2020 Louise Laing The re-introduction of Crown preference and the resulting change in the order of priority of creditors on insolvency was announced as part of the Autumn budget in 2018, way before anyone had heard of Covid-19, and was originally due to come into force on 6 April 2020. It was…
Photo by Marco Bianchetti on Unsplash The latest data from the Australian Financial Security Authority indicates insolvencies in construction, mining and retail have increased in the past fortnight. Compared to the last reporting period of 5 October to 18 October, insolvencies in these three sectors spiked 38%, going from 71 total insolvencies to 98 this…
EXECUTIVE SUMMARY R3 Association of Business Recovery Professionals (R3), a trade association for the United Kingdoms insolvency and restructuring industry, has launched a standard form proposal (Standard Form) for company voluntary arrangements (CVAs). A CVA is a contractual arrangement between a financially distressed company and its creditors. The Standard Form has been drafted in consultation…
Tuesday, November 3, 2020 Executive Summary R3 Association of Business Recovery Professionals (R3), a trade association for the United Kingdoms insolvency and restructuring industry, has launched a standard form proposal (Standard Form) for company voluntary arrangements (CVAs). A CVA is a contractual arrangement between a financially distressed company and its creditors. The Standard Form has…
The Australian Financial Security Authority has issued a warning around dodgy insolvency advisors ahead of an anticipated spike of bankruptcies. The personal insolvency regulator has now launched a public campaign to raise awareness on the prevalence of dodgy insolvency advisors and tell-tale signs for the public to look out for. The Australian Financial Security Authoritys…