Insolvency statistics for England and Wales, for the period April to June 2016, show that total company insolvencies were lower than the previous quarter, and decreased on the year. This was mainly driven by a decrease in compulsory liquidations. Andrew Tate, president of R3, the trade body for insolvency professionals, cited the cheapness of the…
Three recruitment companies have been returned to their directors, after parent company Rubicor Group secured a deal with creditors to bring the companies out of voluntary administration. Rubicor Group is one of Australias largest recruitment companies and is listed on the Australian Securities Exchange. The group, which was founded in 2005, operates 15 specialist brands…
Overview Comment The liquidation of a limited liability company (LLC) is undoubtedly a complicated and lengthy process, but nonetheless includes many safeguards to guarantee the rights and obligations of the company with regard to third-party debtors and creditors. Below are the main steps required in the liquidation process for LLCs registered in Baghdad or…
Christian Keszthelyi Thursday, August 11, 2016, 13:14 A court in Zalaegerszeg has terminated a liquidation procedure brought against Hungarian porcelain maker Zsolnay, a decision which may yet be appealed, although Imre Bodnár, Zsolnays legal counsel, believes it would be difficult to refute, Hungarian news agency MTI reported. [Zsolnays] insolvency cannot be established and a liquidation…
New Delhi: Officials of Finance and Corporate Affairs ministries today discussed an action planfor implementation of the insolvency and bankruptcy law to make debt recovery process more effective. The Insolvency and Bankruptcy Code, 2016 — notified by the government in May — seeks to consolidate and amend laws relating to reorganisation as well as insolvency…
A Queensland-based financial services company has collapsed into liquidation with millions of dollars in debts. The Australian Tax Office is reportedly the largest creditor of Gold Coast-based firm Members Alliance and its related entities, with the Gold Coast Bulletin reporting the ATO is owed $29 million. Of that figure, the company, which was evicted from…
09 August 2016 Emma Ryan View Comments A former litigation specialist for Holding Redlich has taken up a new position at a Queensland law firm. Alexandria Geokas (pictured)…
Oil doesn’t just float on water. It’s pretty buoyant on debt, too. My colleague Lisa Abramowicz wrote earlier this week about the flood of money into emerging market debt this year. Just as investors are now willing to take negative yields on trillions of dollars in developed-economy sovereign debt, the premium they demand for bonds from…
Aug 10, 2016 12:33 pm ET Allegations of poor corporate governance practices at U.K. retailer BHS has led some to call for greater oversight of private companies, but governance specialistsand even legislatorssay that instead of more regulation, the focus should be on improving corporate culture. Member… Read the full article at: http://blogs.wsj.com/riskandcompliance/2016/08/10/governance-at-private-cos-best-tackled-by-changing-culture/
The first time Angela Lawson got married, she eloped. So for her second wedding, she wanted the full bridal experience. But her experience has been left somewhat in tatters after the collapse of a Fitzroy bridal boutique, Primrose and Finch. Kerry and Matthew Smith, whose business Primrose and Finch went into liquidation in late July…