Image source: Getty Images Share this page: What is insolvency? What does it mean to be insolvent? And how does insolvency differ from bankruptcy? If youve ever found yourself pondering these questions, then this article is for you. Well tell you everything you need to know about insolvency and the consequences it could have for…
Allan Kenneth Barke (34), of Stockport, appeared at Chester Crown Court before HHJ Everett on 1 April where he was banned from acting as a company director for 8 years. The court heard that Allan Barke had been director of Cheshire Fitted Furniture Limited from its incorporation in November 2014 until September 2015. The furniture…
Beyond Debt Thousands of Sole Traders will have no choice but to file for Bankruptcy, according to Beyond Debts Ben Paris. The government thresholds for Debt Agreements, an alternative to Bankruptcy, are too low at $118,063.40 and the three years term too short to assist many. There are 912,411 Sole Traders, the most common business…
The UK government has extended its suspension of various rules and procedures affecting distressed businesses as a result of the coronavirus (COVID-19) pandemic. However, with the UK lockdown easing on a rolling basis up to 21 June 2021, these may be the last of the blanket extensions across all of these areas. Expect the gradual…
Owners of micro, small and medium enterprises (MSMEs) going into bankruptcy proceedings under a simplified regime rolled out this week could lose their business in certain cases if they do not match a better offer from a potential investor. The Insolvency and Bankruptcy Board of India (IBBI) is currently framing regulations under the new bankruptcy…
By Reuters Staff 2 Min Read (Corrects to show D-reizen Dutch-owned since December 2020, paragraph three) AMSTERDAM, April 6 (Reuters) – D-RT Group, the parent of Dutch tour operator D-reizen, has been declared bankrupt, a court spokesman said on Tuesday, potentially affecting more than 1,000 employees. The Netherlands has largely avoided corporate bankruptcies during the…
By Reuters Staff 2 Min Read (Corrects to show D-reizen Dutch-owned since December 2020, paragraph three) AMSTERDAM, April 6 (Reuters) – D-RT Group, the parent of Dutch tour operator D-reizen, has been declared bankrupt, a court spokesman said on Tuesday, potentially affecting more than 1,000 employees. The Netherlands has largely avoided corporate bankruptcies during the…
A Gurugram-based creditor had initiated insolvency proceedings and The National Company Law Tribunal had admitted the petition against OYOs subsidiary Oyo Hotels and Homes Pvt Ltd on April 7. The National Company Law Appellate Tribunal (NCLAT) today stayed the proceedings against OYOs subsidiary. As initially it was misreported by a few media platforms as OYO…
Disgraced former Malaysian Prime Minister Najib Razak faces bankruptcy for allegedly failing to pay U.S. $421 million in taxes and penalties, which could end his political career. Najib said late Tuesday that the countrys tax board served him a bankruptcy notice allegedly for unpaid personal income taxes from 2011 to 2017, in retaliation for his…
OYO founder took to Twitter to clarify on rumours that the hotel aggregator chain had filed for bankruptcy TopicsOyo|Bankruptcy|startups in India Neha Alawadhi | New Delhi Last Updated at April 7, 2021 23:20 IST The National Company Law Tribunal (NCLT) has accepted a plea against a unit of Oyo Rooms. Oravel Stays Pvt Limited, the…