Australian construction-industry insolvencies surged nearly 21 per cent last financial year to a new high, reflecting what the corporate regulator said was a greater use of insolvency appointments by small businesses restructuring debts in a way that would let them keep trading. Figures published by the Australian Securities and Investments Commission on Monday showed economy-wide…
Pierce trucking company declares bankruptcy BizWest Read the original article here
Overview Many businesses license intellectual property (IP) rights such as copyright from third parties. The licence will give the licensee a contractual right to use the licensor’s IP rights and therefore avoid an infringement of the IP right. Complex issues regarding the protection and realisation of IP rights can arise where a licensor (i.e., the…
When a company enters formal Canadian insolvency proceedings, whether it is a restructuring or liquidation scenario, the Canadian legislation and courts have held that the “interest stops rule” applies in respect of unsecured claims, meaning interest ceases to accrue on such claims after the filing date. A recent decision from the Alberta Court of Appeal…
When a company enters formal Canadian insolvency proceedings, whether it is a restructuring or liquidation scenario, the Canadian legislation and courts have held that the “interest stops rule” applies in respect of unsecured claims, meaning interest ceases to accrue on such claims after the filing date. A recent decision from the Alberta Court of Appeal…
Leicester have eased fears over their deal with shirt sponsors BC.Game after the online betting site was reportedly declared bankrupt. The Foxes have been assured the issue will not impact their contract with their main sponsor. BC.Game signed a two-year deal with the Foxes in the summer but have reportedly been declared bankrupt by a…
A Hunan court confirmed the Stellantis joint venture was unable to repay debts despite a major sell-off of assets. By Stewart Burnett A court in China’s Hunan province has declared GAC Fiat Chrysler Automobiles (GAC-FCA) bankrupt, ending the troubled joint venture between Stellantis and the state-owned Guangzhou Automobile Group. The bankruptcy administrator confirmed the company…
Today’s guest is Richard E. Farley, author of Drop Dead, a history of how the richest city in America got addicted to spending, saturated in debt, and crashed the municipal bond market—and then managed to get a federal bailout in the nick of time. In 1975, New York City almost went bankrupt. Farley argues that the same conditions are…
A commercial judge has recalled a warrant for diligence on the dependence by arrestment and inhibition granted based on an action raised in England by a Scottish offshore company after finding that there was no real or substantial risk that justified the warrant’s continuation. James Fisher Offshore Ltd, the respondent to the petition raised by…
The Central District Court has appointed a provisional receiver for foodtech company InnovoPro, which produces chickpea protein. The company, which in the past few years has raised millions of dollars, has become insolvent, with debts amounting to NIS 6 million. The court issued a stay of proceedings, freezing lawsuits by creditors, and appointed Adv.…