Germany's corporate insolvency surge raises economic fears – MSN
Germany’s corporate insolvency surge raises economic fears MSN Read the original article here
The Corporate Insolvency and Governance Act 2020 (CIGA) | Global law firm
The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis. CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following the publication of…
The new Corporate Insolvency and Governance Act: Implications for asset-based lenders | Global law firm
Key points for asset-based lenders We explore the implications for the Act in the context of asset-based lending below. Key points to note are: The Act introduces a new “moratorium” procedure allowing eligible companies to continue to trade whilst being protected from creditors who may not take enforcement steps against them. The moratorium…
Where is the insolvency market going in 2023? – Insolvency/Bankruptcy
Where is the insolvency market going in 2023? Corporate insolvency appointments at highest rate since November 2020. 2023 is promising to be a volatile and interesting year, with a lot of uncertainty, especially as we look forward to the latter half of 2023. Corporate insolvencies Corporate insolvency appointments started the year at a low point,…
Update on recent changes to insolvency law
On 24 March 2020, the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) (‘Omnibus Act’) was enacted as part of the Commonwealth government’s economic response to the Coronavirus. The Omnibus Act made changes to the Bankruptcy and Corporations Acts and Regulations. These changes were intended to extend for six months, but were later (in September 2020)…
UK Corporate Insolvency And Governance Bill
The Corporate Insolvency and Governance Act 2020 has introduced a new standalone moratorium procedure for companies.1 The moratorium is part of a package of significant legislative reforms contained in the Act, intended to enhance the UK’s restructuring rescue culture. These were originally consulted on between 2016 and 2018 and were fast-tracked to deal with the COVID-19…
NCLT admits insolvency plea against Hero Electric
A bankruptcy court in New Delhi has admitted Hero Electric Vehicles for a corporate insolvency resolution process in an application filed by its operational creditor Metro Tyres. The National Company Law Tribunal appointed Bhoopesh Gupta as interim resolution professional for the EV maker. “We are of the view that the corporate debtor (Hero Electric Vehicles)…
NZ Coastal Seafoods says liquidating NZ business will save $500k a year
{{ registerForm.errors.get(‘form’) }} We had trouble validating your card. It’s possible your card provider is preventing us from charging the card. Please contact your card provider or customer support. Credit Card {{ cardForm.errors.get(‘card’) }} … Read the original article here
Former Prolink NZ workers demand open work visas as company liquidated
Some of the former employees of Prolink NZ who have written a letter to Immigration NZ asking for open work visas. Photo: RNZ / Lucy Xia About 50 migrant workers whose visas are at risk after the liquidation of their employer – the Auckland-based labour hire company Prolink NZ – are demanding open work visas…
NZ Coastal Seafood says liquidating NZ business will save $500k a year
{{ registerForm.errors.get(‘form’) }} We had trouble validating your card. It’s possible your card provider is preventing us from charging the card. Please contact your card provider or customer support. Credit Card {{ cardForm.errors.get(‘card’) }} … Read the original article here