Corporate Insolvency & Restructuring Report 2020: Covid-19 Special Focus: Croatia – International Financial Law Review

Bankruptcy

Beside the ongoing debates regarding the Extraordinary Administration Proceedings (EAP), which was a tailormade framework to manage the restructuring of Agrokor, market trends show a drop in numbers in both pre-insolvency and insolvency cases. This downward trend originates in the 2015 restructuring and insolvency reform that over-formalised the pre-insolvency process and discouraged debtors from using…

Corporate Insolvency & Restructuring Report 2020: Covid-19 Special Focus: Hong Kong SAR – International Financial Law Review

Bankruptcy

Hong Kong SAR does not have a statutory corporate rescue regime. Many restructurings take the form of workouts, implemented by consent or by way of a Hong Kong SAR law scheme of arrangement. The court appointment of a provisional liquidator, which displaces the company’s directors and includes a statutory stay on proceedings, may be used…

Corporate Insolvency & Restructuring Report 2020: Covid-19 Special Focus: Luxembourg – International Financial Law Review

Bankruptcy

As with the rest of the world, the Covid-19 pandemic has been affecting the operation of companies registered in Luxembourg in multiple ways. With new challenges lying ahead owing to this unprecedented health and economic crisis, local economic stakeholders have had to revisit their business models and prioritise short-term strategies to ensure the viability of…

Boris Becker due in court over claims he ‘hid property portfolio, bank accounts and shares’ – Daily Mail

Bankruptcy

Boris Becker will appear in court this week to face 19 criminal charges over claims he ‘hid property portfolio, bank accounts and shares in artificial intelligence firm’ during bankruptcy hearings Boris Becker, 52, faces claim that he hid finances at his 2017 bankruptcy hearing It’s alleged he failed to declare three properties, along with two…

Clients of Azerbaijan’s bankrupt Standard Insurance receive compensations – MENAFN.COM

Bankruptcy

(MENAFN – AzerNews) By Trend The Compulsory Insurance Bureau of Azerbaijan paid compensations to approximately 1,000 creditors of Standard Insurance Company OJSC, which was declared bankrupt, Trend reports,referring to the bureau. In accordance with the Azerbaijani legislation, the bureau has begun fulfilling its obligations under compulsory insurance contracts concluded with the insurance company, and within…

Sentencing date looms for disgraced Sydney developer and competitive bodybuilder – Sydney Morning Herald

Bankruptcy

Vertzayias’ now-defunct property development outfit Globe Project Group had once sponsored the St George-Illawarra NRL team, and he was reportedly “close” to a number of rugby league identities. When Vertzayias declared himself bankrupt in 2012, it was believed among creditors owed $60 million was then Dragons’ coach Nathan Brown along with George Mimis, the manager…