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As rumors of Onkyo s bankruptcy along with Pioneer, keep swirling around the industry and despite local distributor Ambertech struggling to get stock, Company executives are still telling observers that they have a future. Now as their fiscal year draws to a close on March 31st, the historic Japanese audio firm appears to be breathing…
FILE PHOTO: Former Malaysian Prime Minister Najib Razak reacts during a break at Kuala Lumpur High Court in Kuala Lumpur, Malaysia, February 5, 2020. REUTERS/Lim Huey Teng reuters_tickers This content was published on April 7, 2021 – 04:43 April 7, 2021 – 04:43 KUALA LUMPUR (Reuters) – Malaysia’s former prime minister Najib Razak has been…
As rumors of Onkyo s bankruptcy along with Pioneer, keep swirling around the industry and despite local distributor Ambertech struggling to get stock, Company executives are still telling observers that they have a future. Now as their fiscal year draws to a close on March 31st, the historic Japanese audio firm appears to be breathing…
Struggling businesses have been handed additional assistance after the Government extended changes to insolvency laws that were brought in during the pandemic. In response to the coronavirus pandemic and the resulting lockdown measures, the Government introduced the Corporate Insolvency and Governance (CIG) Act to bring in new tools to give struggling firms “the time they…
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…
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 pandemic as employers are able to receive government support to continue paying employees. “This is a pitch black day for us”…
Seeking to provide a quicker and value-maximising outcome for stressed MSMEs, the government has introduced a pre-packaged resolution process for such enterprises by amending the insolvency law. Now, Micro, Small and Medium Enterprises (MSMEs) can seek resolution for their stress through the pre-packaged process under the Insolvency and Bankruptcy Code (IBC). An ordinance was promulgated…
The Centre has taken the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs). India has 6-7 lakh companies that are classified as MSMEs, which could potentially benefit from the newly-introduced pre-packaged insolvency framework. A pre-packaged insolvency in the Indian framework context is an arrangement…
The Centre has used the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs). India currently has about 6-7 lakh companies classified as MSMEs, and potentially these many could benefit from the newly introduced pre-packaged insolvency framework. In the Indian framework context, a pre-packaged insolvency…