Bulgarian President Radev vetoes amendments to bank insolvency law – The Sofia Globe

Share this: Bulgarian President Roumen Radev vetoed on February 21 a bill amending the Bank Insolvency Act, arguing that some of the provisions had retroactive effect, which breached the principle of the rule of law. The president supports the efforts of the National Assembly for greater efficiency in defending the public interest in bank insolvency,…

Businesses left reeling after Mandurah building company Colista Homes goes into liquidation – Community Newspaper Group

DOZENS of local businesses have been left reeling after Mandurah building company Cole Building Pty Ltd went into liquidation last month. Trading as Colista Homes and Colista Constructions, the company went into liquidation on January 31. Steven Kugal from the Insolvency Experts was appointed as the liquidator. More than 50 businesses are on the creditors…

Banks should have agreed debt deals, says insolvency director – Irish Times

Banks would be under less pressure to sell large portfolios of bad mortgages had they dealt with distressed borrowers earlier, the head of the States personal insolvency service has said. Lorcan OConnor, director of the Insolvency Service of Ireland, said banks should have tried to resolve more of their non-performing loans through personal insolvency legislation…