High Court: restructuring plans are ‘insolvency proceedings’ – Out-Law.com

The court held that restructuring plans, introduced by the 2020 Corporate Insolvency and Governance Act(CIGA), are ‘insolvency proceedings’ for the purposes of the Lugano Convention. As the plan fell within the bankruptcy exception in the Convention, the UK court had jurisdiction despite an exclusive jurisdiction clause in favour of the Swiss courts. Restructuring plans fall…

Bankruptcies in February at lowest level in 30 years 12/03/2021 15:00 – Statistics Netherlands

Download CSVShow datatableNumber of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days Number of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days 2017 March 304 2017 April 263 2017 May 281 2017 June 300 2017 July 266 2017 August 231 2017 September 237 2017 October…

A ticking time bomb: Why the economic stats for 2020 were so misleading – SmartCompany.com.au

Source: AAP/Bremdon Thorne. The vast arsenal of fiscal, monetary and legal measures used by Australian governments to offset the COVID-induced economic crisis have worked well. They did not prevent a recession (popularly defined as two quarters of negative GDP growth) but things could have been much worse. What is particularly interesting is that the expected…

Greensill companies pitted against each other in claims war – The Australian Financial Review

The Australian parent company, which is controlled by Greensill founder and chief executive Lex Greensill, is a creditor in the UK administration process and is understood to be owed hundreds of millions of dollars. Mr Greensill is also a director of Greensill Capital UK. Grant Thornton has told the Australian Securities and Investments Commission (ASIC)…

Hard bump ahead? Drop in insolvencies and bankruptcies is a ticking time bomb – The Conversation AU

The vast arsenal of fiscal, monetary and legal measures used by Australian governments to offset the COVID-induced economic crisis have worked well. They did not prevent a recession (popularly defined as two quarters of negative GDP growth) but things could have been much worse. What is particularly interesting is that the expected consequences have not…