High Court grants rare remedy of winding up of company in shareholder dispute – Herbert Smith Freehills
High Court grants rare remedy of winding up of company in shareholder dispute Herbert Smith Freehills Read the original article here
Kansas’ Key Insurance Placed Into Liquidation
Key Insurance, a Kansas-based insurer specializing in non-standard auto, was placed into liquidation after a court ruled the company insolvent. The Shawnee County District Court ordered the liquidation of Key on March 31 after reviewing significant evidence that Key’s liabilities exceed its admitted assets. The court found that Key’s consistent underwriting losses, existing claims and…
NCLAT upholds liquidation of Sintex Plastics
The insolvency appellate tribunal NCLAT has upheld an NCLT order directing liquidation of debt-ridden Sintex Plastics Technology. A two-member bench of the National Company Law Appellate Tribunal (NCLAT) also rejected the submission of an unsuccessful bidder that NCLT passed an order for liquidation even though its lone CoC member had abstained from voting. RBL Bank…
Corporate bankruptcies rise sharply in Austria in Q1 2025
Vienna [Austria], April 21 (ANI/WAM): A total of 2,004 companies in Austria filed for bankruptcy in the first quarter of 2025, marking an 8 per cent increase compared to the same period in 2024. According to updated figures, the financial liabilities of bankrupt companies during the first three months of the year reached approximately EUR…
Corporate bankruptcies rise sharply in Austria in Q1 2025
ANI | Updated: Apr 21, 2025 14:51 IST Vienna [Austria], April 21 (ANI/WAM): A total of 2,004 companies in Austria filed for bankruptcy in the first quarter of 2025, marking an 8 per cent increase compared to the same period in 2024. According to updated figures, the financial liabilities of bankrupt companies during the first…
Restructuring & Insolvency: Australia (2023)
Contents: General Legislation The Corporations Act 2001 (Cth) (the Act) is the primary piece of federal legislation that governs the registration, administration, insolvency and reorganisation of companies incorporated in Australia. The Act prescribes, among other things, the manner to administer and regulate the winding up, liquidation, administration and distribution of assets vested in insolvent corporations…
Sydney lending firm enters voluntary administration – The Australian
Sydney lending firm enters voluntary administration The Australian Read the original article here
Hudson’s Bay Co. prepares for more job cuts, asking court for new legal counsel for employees
Open this photo in gallery: Hudson’s Bay in Richmond Centre shopping centre, Richmond, B.C., on March 27. Canada’s oldest retailer is in the process of liquidating most of its department stores across Canada.Isabella Falsetti/The Globe and Mail Hudson’s Bay Co. is asking the court to appoint new legal counsel for its employees as it prepares…
Cryptoloc Holdings liquidated months after winning $15m Queensland government contract
Queensland’s government has put a politically-connected cybersecurity business into insolvency within six months of it winning a state contract to run a $15 million safety program. Cryptoloc Holdings’ liquidation was executed this month in the Supreme Court after failing to repay $1.51 million demanded by the state for money already advanced, the ABC can reveal.…
Corporate sector vulnerabilities in a high-rate world: Growing risks to financial stability
The unprecedented policy support deployed during the COVID-19 pandemic allowed nonfinancial corporations in many jurisdictions to navigate the pandemic shock relatively well. At the same time, the synchronised global monetary policy tightening cycle that started in early-2022 (recently reversed by several central banks) does not seem to have significantly affected corporates’ financial performance. Nevertheless, the…