New York/London CNN — Tupperware, known the world over for its plastic food storage containers, has filed for bankruptcy after years of falling popularity and financial troubles. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, president and CEO of Tupperware Brands Corporation,…
“I’ve been forced into bankruptcy as a result of a defamation case where I was found to be unsuccessful, owing a vet clinic $320,000 in damages,” Peterson said. “And that doesn’t even include their legal costs, putting my debt to over half a million dollars. “During the trial, I was forced to produce financial and…
The court dismissed the company’s claims that with GVK Power’s resolution plan going through the debt had been extinguished. | Photo Credit: ANDREW KELLY National Company Law Tribunal’s Hyderabad bench has permitted insolvency proceedings to be initiated against GVK Energy, following a petition filed by lender IDBI Bank. GVK Energy, a subsidiary of GVK Power…
The National Company Law Tribunal (NCLT), Hyderabad Bench, on Wednesday initiated insolvency proceedings against GVK Energy Limited, a corporate guarantor for GVK Power (Goindwal Sahib) Ltd, following a petition filed by IDBI Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC). The tribunal dismissed GVK Energy’s objections, ruling that the default exceeded ₹1,106…
Nearly 1,000 Belgian businesses went bankrupt in April The Brussels Times Read the original article here
A man who refused to pay a measly $46 speeding fine has ended up racking thousands of dollars worth of debt. In 2016, Peter Prescott received a speeding ticket ordering him to pay $46 (translated to USD) for driving 64km/h in a 50km/h zone. However, he failed to pay the ticket and insisted that he…
A court in Palma has taken over the investigation into two alleged rapes of women, several months apart, committed by a former British tycoon at a five-star hotel in Portals Nous, Calvia. The suspect apparently contacted the victims through a luxury sex services website and both women travelled to the island after arranging to meet…
Animal rights activist Tash Peterson and her partner Jack Higgs have kissed their passports goodbye as the couple declared bankruptcy. The declaration comes after Bicton vet Kay McIntosh won bankruptcy orders against the pair in late April. The orders followed a messy defamation trial between the activist couple and Dr McIntosh, her husband Andrew and…
1. Overview 1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions? Until fairly recently, the Dutch jurisdiction was primarily creditor-friendly. The Dutch Bankruptcy Act (“DBA”) primarily aimed to satisfy creditors, rather than providing debtors with a reorganisation mechanism. However, the introduction of the Act on confirmation of private restructuring…
Court of Appeal halts insolvency petition against Old Mutual Holdings Business Daily Read the original article here