Simplified Insolvency Programme (Singapore) | Dentons – JDSupra – JD Supra

The Simplified Insolvency Programme (SIP) has been instituted to facilitate the restructuring or liquidation of micro and small companies (MSCs). The SIP was ushered in by the Insolvency, Restructuring and Dissolution (Amendment) Act 2020 (IRDA Amendment Act), with the relevant provisions recently commencing on 29 January 2021. It modifies the Insolvency, Restructuring and Dissolution Act…

HNA declared bankrupt – micebtn

BTN News Tuesday, 02 February 2021 The China-basedand formerly all-powerful HNA Group has been declared bankrupt. The diversified group controlled 14 airlines, had a global fleet of 900 aircraft and held shares in firms in a multitude of travel, tourism, logistics, finance and property verticals that made it one of the most prolific investors in…

ASBFEO issues call to register assets ahead of insolvency spike – AccountantsDaily

Small businesses have been urged to secure their assets and business loans on the Australian governments register of security interests ahead of an anticipated rise in insolvencies. Australian Small Business and Family Enterprise Ombudsman Kate Carnell believes many small businesses are not fully utilising the Personal Property Securities Register (PPSR) as protection in the event…

Hainan Airlines seen attractive to new investors despite HNA Group crisis – Reuters

(Reuters) – Hainan Airlines Holding Co Ltd, HNA Groups flagship firm, is operating normally and could draw in new investors despite a bankruptcy filing, embezzlement charges and large asset impairments for the carrier last week, some analysts said. FILE PHOTO: A Hainan Airlines Airbus commercial passenger aircraft is pictured in Colomiers near Toulouse, France, November…

SMBs urged to secure assets, loans ahead of “insolvency explosion” – CRN Australia

Small businesses have been urged to secure assets and business loans ahead of an anticipated increase in insolvencies this year. Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell said small businesses need to secure their assets through the Governments Personal Property Securities Register (PPSR) in the event of an insolvency. Operating under the…