TAP Air Portugal (TP, Lisbon) has filed an application in the Commercial Courts of Lisbon for the liquidation of its groundhandling company, Servicos Portugueses de Handling, S.A. (SPdH), also known by its trademark Groundforce Portugal. The airline is a creditor of Groundforce, which to date has provided ground-handling services to TAP at Lisbon, Porto, Faro,…
Enlarge this image National Rifle Association CEO Wayne LaPierre at the group’s annual meeting in Dallas in May 2018. A secretive figure, LaPierre makes few public appearances outside of carefully scripted speeches. Daniel Acker/Bloomberg via Getty Images hide caption toggle caption Daniel Acker/Bloomberg via Getty Images Updated at 6:43 pm ET A federal bankruptcy judge…
Employees working for an insolvent company will have to be given at least 30 days’ notice of redundancy, under new legislative reforms to be introduced by the Government. The proposal is part of a new Department of Enterprise, Trade and Employment Action Plan to boost the rights of employees hit by insolvency – an issue…
The Government is to introduce new legislative reforms over the medium term to enhance the rights of employees facing collective redundancies following insolvency. In a new action plan, the Department of Enterprise and Employment says that in future workers affected by collective redundancy will in all cases have to receive 30 days notice. The plan,…
The Insolvency Service will be given powers to investigate directors of companies that have been dissolved, closing a legal loophole and acting as a strong deterrent against the misuse of the dissolution process. The process will no longer be able to be used as a method of fraudulently avoiding repayment of Government backed loans given…
1. Introduction On 12 January 2021, the Government published a consultation on proposed changes to the monetary eligibility criteria for debt relief orders (DROs). DROs provide low cost and easy access to debt relief for individuals with relatively low levels of unmanageable debt, and no way to pay their creditors. In order to be able…
Creditors vote Wednesday on THAI rehab plan Some stakeholders reject debt haircuts Thai Airways aircraft remain grounded at Suvarnabhumi airport as the airline’s creditors vote on Wednesday whether to accept its debt rehabilitation plan. (Photo byApichit Jinakul) If Thai Airways International Plc (THAI) were to go under on decision day, which is Wednesday, creditors would…
Photograph: Shutterstock Acknowledging its taking a tremendous risk, fast-casual chain Cosi asked a judge this week to dismiss its bankruptcy case so it can apply for the Restaurant Revitalization Funda plan approved Tuesday by the court. Early this month, Cosi asked a U.S. Bankruptcy Court judge in Delaware to speed up its bankruptcy proceedings so…
Creditors vote today on THAI rehab plan Some stakeholders reject debt haircuts Thai Airways aircraft remain grounded at Suvarnabhumi airport as the airline’s creditors vote today whether to accept its debt rehabilitation plan.Apichit Jinakul If Thai Airways International Plc (THAI) were to go under on decision day, which is today, creditors would only be paid…
NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution process, have submitted revised bids and improved their offers for financial creditors. TopicsNBCC|Jaypee Infra insolvency|Jaypee Infra State-owned NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution process, have submitted revised…