As established in the Ghanaian landmark case Salomon v. Salomon , when a company is incorporated, it becomes a separate legal entity with perpetual succession. This means the company continues to exist even if its members or officers leave, due to death or other reasons. However, companies can face challenges and may need assistance to…
He was referring to American business Arena, which loaned money for Wattle Park. The liquidators said the company owes $3.6m to Kiwibank as the first-ranking mortgagee and $1.09m to Inland Revenue. The IRD debt is unpaid GST on apartment sales, including interest and penalties being charged for outstanding amounts, they noted. Arena is the second-ranking…
Against the backdrop of global economic instability, the number of insolvencies worldwide recorded a 19% increase in 2024 compared to the previous year, according to the latest Atradius report “Insolvencies normalise, but trade war brings new risks”, published in April 2025. The analysis, covering 29 global markets, highlights a trend toward a return to pre-pandemic levels,…
79496 Following reports that purchasers of tickets for the cancelled Juicy Fest NZ and Timeless Summer Tours had been frustrated in obtaining ticket refunds, the festival promoter behind the tours has entered liquidation. Juicy Festival Limited, Timeless Events New Zealand and Timeless Events Australia Limited were placed into liquidation as of last Friday, with Blacklock…
Private-Credit Firms Expand Restructuring Teams Amid Bankruptcy Surge WSJ Read the original article here
UOB-Kay Hian Completes Voluntary Liquidation of Subsidiary TipRanks Read the original article here
9.04.2025 11:17 (Akt. 9.04.2025 11:17) Österreich ist erneut auf einem Firmenpleiten-Rekordjahr-Kurs. ©Canva (Sujet) Austria is facing its third consecutive year of record insolvencies in 2025. In the first quarter, 1,134 corporate insolvencies were recorded, representing an increase of 3.94 percent compared to the same period in the record… Read the original article here
NCLAT: Liquidation Order u/s 33 of IBC Cannot be Set Aside Once Successful Auction Purchaser Taken Possession of Property of Corporate Debtor: Taxscan Read the original article here
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, consisting of Justice Ashok Bhushan (Chairperson), Barun Mitra (Member – Technical), and Arun Baroka (Member – Technical), dismissed an appeal arising from an order by the NCLT Mumbai. The tribunal held that the hire charges for the assets not used by the corporate debtor…
사진 확대 [Photo = Yonhap News] There is a warning sign for corporate insolvency in the Korean economy. The number of marginal companies pushed to the brink of restructuring has increased compared to the global financial crisis and the COVID-19 pandemic. According to the data released by KB Kookmin, Shinhan, Hana, and Woori to the…