Renewcell hopeful amidst outpouring of support | Materials & Production News | News – Ecotextile News

STOCKHOLM Swedish textile recycling pioneer Renewcell says it is hopeful the company will continue as a going concern under new ownership despite being declared bankrupt this week. It comes as the Circulose Supplier Network of 151 companies working to use the Swedish firms dissolving pulp issued an open letter in support of the company. Existing…

Ex-ILVA declared insolvent – Agenzia ANSA

A Milan bankruptcy court on Thursday declared the former ILVA steelworks at Taranto in Puglia insolvent, the necessary premise for the installation of special commissioner Giancarlo Quaranta to run the plant, now called Accaierie d’Italia (AdI), ahead of possible new foreign partners joining after multinational ArcelorMittal’s term ended acrimoniously.    The declaration of insolvency, at the…

Looking back and thinking forward: The insolvency landscape in 2024 and beyond – AccountantsDaily

Several of these factors contributed to the rising levels of formal insolvency appointments and distressed asset sales seen over the past year, which is likely to continue into 2024.  In this article, we look back at, and think forward to, the trends and legal developments which businesses, insolvency professionals, accountants and investors need to be…

Assetless administrations and the role of the public liquidator how does Australia compare to other jurisdictions? – Norton Rose Fulbright

This article was co-authored by Victoria Hoon Why bother administering assetless companies? To a creditor, it may seem futile to administer assetless/ low-asset companies as any prospects of recovery are likely to be minimal. However, there are strong public interest considerations in ensuring that there are mechanisms to discourage poor corporate behaviour, deter illegal conduct…