Introduction Composition of inventory Function of inventory Deficit Introduction Article 192 of the Consolidated Text of the Bankruptcy Law (TRLC) introduces the concept of the ‘active mass’ of a bankruptcy, which constitutes all of the assets and rights integrated into the bankrupt’s assets on the date of the declaration of bankruptcy, as well as those…
The Australian government helped businesses during the COVID-19 pandemic last year by temporarily suspending some business directors’ duties relating to insolvency risks. However, directors’ obligations have reverted to the standard insolvency liability regulations this year. The government’s 2020 insolvency relief, a part of the Australian Coronavirus Economic Response Package Omnibus Bill, aimed to prevent insolvent…
The word bankruptcy strikes fear in the hearts of business owners and individuals. Its very easy to conjure up thoughts of debt consuming your life, losing everything you own and ending up penniless. However, while many would go to any lengths to avoid bankruptcy, sometimes it can actually be the best solution to clear a…
Former Lloyds broker Samantha Phillips, 55, whose explosive 1996 bestseller ‘Blonde Ambition’ rocked City of London is declared bankrupt and faces eviction from her 35m Chelsea home Phillips says she rented property for a year at 14,000 a week ‘with no problem’ But last March the owner wanted her to buy the property outright, she…
image captionHarjinder Butoy is one of 39 former postmasters who have had their convictions quashed A former postmaster who spent 18 months in jail after being wrongly convicted of theft due to a faulty computer system says those responsible should also be locked up. Harjinder Butoy, from Chesterfield, was accused of stealing 206,000 from the…
A woman who inaccurately responded to questions about debt in her online application for car insurance has lost a claim dispute with Hollard. The woman, who was subject to a part 9 debt agreement under the Bankruptcy Act, says she made an honest mistake and sought that Hollard pay her car accident claim and that…
Katie Price is keeping business in the family as she roped in her five-year-old daughter to help flog items from her bath range. The former glamour model, who was declared bankrupt in 2091, took to Instagram to share a snap of her taking a bath with her youngest child Bunny. “Nothing better than a bath…
Article 0 Comments Florida-based American Capital Assurance Corp. is officially in receivership and is in the process of being liquidated after being deemed insolvent by Floridas insurance regulator earlier this month. The Florida Department of Financial Services, which serves as the receiver for any insurer placed into receivership in Florida, said it was granted a…
Photo courtesy The Lost Cajun Casual dining chain The Lost Cajun filed for Chapter 11 bankruptcy protection Wednesday, citing the impacts of the pandemic on its operations and franchisees. The New Orleans-inspired concept, which was founded in 2010 in Colorado and lists 25 locations on its website, reported liabilities of more than $1.4 million and…
Bio-Hybrid GmbH has filed for insolvency with the Nuremberg District Court. The start of series production, which was planned for mid-2021 after the separation from Schaeffler, is thus in jeopardy. In October 2020, the automotive supplier Schaeffler sold all shares in its subsidiary Schaeffler Bio-Hybrid GmbH to Micromobility Services and Solutions. Series production of the…