Homepage > News > Business > Christen Ager-Hanssen notches third bankruptcy in as many countries Chaos agent Christen Ager-Hanssen has been declared bankrupt in his homeland of Norway, the third country to poke holes in the self-proclaimed billionaire’s fantastical claims of entrepreneurial success. Late last month, the District Court in the Norwegian city of Stavanger…
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In this era of globalisation, international trade has significantly increased, where companies have business in multiple jurisdictions. One of the aspects of globalisation is companies falling into insolvency, which leads to overlapping and conflicts of law between countries, creating chaos for the stakeholders. The purpose of the Model Law is to eradicate the impediments and…
New research by ThinCats has found that mid-sized companies that borrow are sixteen times more likely to achieve growth than face insolvency. The data found that companies that borrowed were more likely to achieve growth than non-borrowers, with the level of borrowing proportional to growth potential. Nearly 40% of mid-market SMEs have achieved revenue growth…
The Supreme Court‘s ruling in the JSW Steel-Bhushan Power & Steel case has put the spotlight on the slow pace of insolvency resolutions, with legal experts warning that many companies awaiting resolution may now be headed for liquidation. The court, in its May 2 order scrapping JSW Steel‘s acquisition of Bhushan Power & Steel (BPSL),…
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English tax authority changes approach to restructuring plans Taylor Wessing Read the original article here
The Supreme Court’s order on Bhushan Power and Steel’s (BPS) insolvency resolution has set back the country’s bankruptcy law. The country’s top court overturned JSW Steel’s bid for BPS six years after it was approved by the National Company Law Tribunal and four years after the National Company Law Appellate Tribunal gave its go-ahead. Meanwhile,…
In today’s Finshots, we look at how a thousand of crores worth of a resolution plan was tossed out years later and why it could shake the very core of India’s insolvency law. The Story If I told you a steel company collapsed under ₹47,000 crores of debt, you might think it’s one of those…
Former pub landlord failed to declare he was bankrupt when applying for Covid loan St Helens Star Read the original article here