Over 6,000 Swiss companies go bankrupt but start-ups see growth
Significantly more company bankruptcies in Switzerland Keystone-SDA Listen to the article Listening the article Toggle language selector … Read the original article here
Former tennis champion Boris Becker jailed in UK bankruptcy case
A London court has sentenced German tennis great Boris Becker to jail for two years and six months for hiding hundreds of thousands of pounds of assets after he was declared bankrupt. Key points: Judge says Boris Becker will serve half his sentence behind bars and the remainder on licence Becker was previously convicted of tax evasion in Germany in…
Diamond Nexus Owner on “Verge of Insolvency,” Attorney Says
Forever Companies, the parent firm of Diamond Nexus and other lab-grown sellers, “has been on the verge of insolvency for several months,” its counsel said in a legal filing, entered Jan. 30 in Illinois federal court. Edmund J. Ferdinand III, an attorney who represented Forever Companies in a trademark case brought by GM Casting House,…
High court rules on MPB Developments insolvency petition
Background and Proceedings The High Court recently delivered a significant judgment in the case involving MPB Developments Limited, where a winding-up petition was filed by Cresta Estates Limited, Luxor Properties Limited, and Stanbreck Properties Ltd. The petition was presented on the grounds of the company’s alleged inability to pay its debts, as outlined under section…
Epicure has $5.7M shortfall, bankruptcy trustee says – Times Colonist
Epicure has $5.7M shortfall, bankruptcy trustee says Times Colonist Read the original article here
IBBI moots two-stage approval process to speed up rescue of bankrupt firms
The insolvency watchdog has proposed a raft of regulatory changes, including a two-staged approval process for rescue plans, part-sale of stressed firms and a new mechanism to handle bankruptcy of interconnected entities of a corporate group, to speed up resolutions and prevent the erosion of toxic asset value. In a discussion paper, the Insolvency and…
IBBI moots two-stage approval process to speed up rescue of bankrupt firms
The insolvency watchdog has proposed a raft of regulatory changes, including a two-staged approval process for rescue plans, part-sale of stressed firms and a new mechanism to handle bankruptcy of interconnected entities of a corporate group, to speed up resolutions and prevent the erosion of toxic asset value. In a discussion paper, the Insolvency and…
Australia bank error recipient will not be prosecuted
Getty Images Christine Jiaxin Lee used the error to buy luxury goods, authorities had claimed Australian prosecutors have dropped charges against a Malaysian woman who allegedly withdrew A$4.6m (£2.6m; $3.5m) following a banking error. Christine Jiaxin Lee, 22, was alleged to have spent much of the sum on luxury items, such as jewellery and handbags.…
No COMI? No big deal! Hong Kong courts reaffirm their position on recognition of foreign insolvency proceedings – Taylor Wessing
No COMI? No big deal! Hong Kong courts reaffirm their position on recognition of foreign insolvency proceedings Taylor Wessing Read the original article here
Over 6,000 Swiss companies go bankrupt but start-ups see growth
Significantly more company bankruptcies in Switzerland Keystone-SDA Listen to the article Listening the article Toggle language selector … Read the original article here