KUALA LUMUR: The Dewan Rakyat passed amendments to the Insolvency Act to increase the bankruptcy threshold from RM50,000 to RM100,000. The Insolvency (Amendment) Bill 2020 was passed with a simple voice vote in the House. Minister in the Prime Minister’s Department Datuk Takiyuddin Hassan said the bankruptcy threshold was increased as a responsive move by…
Many businesses already closed in the months following the start of the MCO will not benefit from the Covid-19 bill. KUALA LUMPUR: Opposition MPs say they support the Covid-19 bill to reduce the impact of the Covid-19 crisis but it is too little, too late for retailers and jobless Malaysians who have been evicted from…
New Delhi: At a time when business owners such as Anil Ambani and Venugopal Dhoot are trying to defend their family assets from getting attached as lenders stake claim on loans with personal guarantees, a little known Delhi-based businessman could provide much needed succour. In a recent ruling, the Delhi High Court has stayed personal…
Macquarie Bank might be courting a backlash from mortgage brokers after revealing changes that will govern the types of people who can market its mortgage products. Under a new policy that takes effect on 14 September Macquarie will be asking brokers to furnish details about their criminal records and personal financial histories before allowing them…
Virgin Australia may have been trading while insolvent in the early days of the coronavirus pandemic’s impact on airline travel, according to a report by Virgin’s administrator Deloitte. “Our preliminary analysis indicates the group was insolvent from 22 March 2020 and possibly as early as 18 March 2020,” Deloitte said in report to creditors ahead…
Five bedroom property in The Little Boltons was home to the last Maharaja of Lahore Sir Duleep Singhs son PrinceVictor Duleep Singh married Lady Anne Coventry, the daughter of the 9th Earl of Coventry, in 1898 Caused furore in London high society as it was first time an Indian royal had married an English noblewoman…
Sports Direct parent company Frasers Group has bought the gyms business of DW Sports out of administration for 37 million and will rebrand them as Everlast Fitness Club. The company – full name Dave Whelan Sports – was declared insolvent in August and BDO appointed to manage its assets. It had DW Fitness premises in…
Mall owner CBL & Associates (NYSE:CBL) has been struggling for years. As a result, it has been teetering on the brink of bankruptcy ever since the COVID-19 pandemic hit the United States. Last Wednesday, the REIT acknowledged the inevitable. CBL issued a press release stating that it had entered a restructuring support agreement with a…
6:49 PM IST Roberto d’Aversa has left Parma after the club finished 11 in the league last season.Photo by Enrico Locci/Getty Images Parma have dismissed coach Roberto d’Aversa three weeks after the end of the season, the Serie A club announced on Sunday. D’Aversa, 45, took charge of Parma when they were in the third-tier…
A record 46 companies with at least $US1 billion in assets have filed for Chapter 11 bankruptcy this year, the Financial Times reported, citing BankruptcyData.com. The previous record was 38 billion-dollar businesses during the same period of 2009. JCPenney, Brooks Brothers, and Chesapeake Energy are among the big companies that have filed for bankruptcy this…