Explained: What is Supreme Court ruling on creditors invoking personal guarantees? – The Indian Express

Six months after it transferred all the cases related to personal insolvency to itself, the Supreme Court has ruled that creditors can proceed against promoters of defaulting companies to recover debt if such promoters have given personal guarantees to secure funds. The top court has also said that lenders can also proceed against the promoters…

Gianluigi Buffon gets ‘crazy’ contract offer that includes weekly pastries and museum pass – Sporting News AU

Former Portuguese champions Belenenses have made a contract offer to Gianluigi Buffon that includes sweets, a museum pass and free lodging. Buffon said earlier this week that he is evaluating his options after confirming his departure from Juventus. If there is someone even crazier than me who contacts me and imagines something even more marvellous,…

SC Upholds IBC Provisions on Insolvency of Personal Guarantors; Big Victory for – News18

Supreme Court on Friday upheld provisions of the Insolvency and Bankruptcy Code (IBC) allowing lenders to pursue insolvency proceedings against promoter guarantors of companies facing Corporate Insolvency Resolution Process. Abench of Justices L Nageswara Rao and Ravindra Bhat delivered the judgement.The ruling would allow banks to file personal bankruptcies against guarantors, even when the insolvency…

UK: Ability to Disqualify Directors of Dissolved Companies – The National Law Review

Thursday, May 20, 2021 On 12 May 2021, the UK Government introduced the snappily titled Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill. As the title of the bill suggests, it seeks to amend the applicability of the directors disqualification regime to directors of dissolved companies. A summary of the current regime is summarised inthisnote…

Jump Swim ordered to pay penalties of $23 million and Ian Campbell ordered to pay compensation – Mirage News

The franchisor Jump Loops Pty Ltd (in liquidation) (Jump Swim) has been ordered to pay penalties of $23 million for making false or misleading representations and wrongly accepting payments from franchisees, in proceedings brought by the ACCC. Jump Swim offered Jump Swim branded learn-to-swim school franchises for sale between March 2016 and July 2019. The…