Mediation can play a crucial role in improving the efficiency of insolvency proceedings, resolving disputes among multiple creditors, and fostering consensus among diverse stakeholders. It can help reduce delays and costs, thereby increasing the likelihood of successful restructuring for businesses and delivering better returns to creditors. This is particularly important during the “pre-commencement” stage, where…
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Blackstone reportedly pondering The Star acquisition upon voluntary administration Asia Gaming Brief Read the original article here
Oceania Glass, a leading Australian architectural glass manufacturer based in Dandenong, Victoria, has entered voluntary administration as of February 4. Grant Thornton Australia partners Lisa Gibb, Said Jahani and Matt Byrnes have been appointed as Joint and Several Voluntary Administrators to oversee the process. Specialising in float glass, coated glass and laminated glass, Oceania Glass…
Insolvency board IBBI on Tuesday issued a discussion paper to provide clarity on various operational aspects including those related to coordinated resolution of interconnected entities and streamlining of submission of resolution plans. The paper proposes several amendments to address operational challenges in the resolution framework. The IBBI has invited public comments on the discussion paper…
A Luxembourg court ordered Life insurance company FWU Life Insurance Lux into liquidation on Monday after several years of protracted troubles for the company. Also read: Luxembourg life insurer insolvency puts 30,000 pensions at risk The Luxembourg insurance supervisory authority, the Commissariat aux Assurances (CAA), fined the company €200,000 in August 2024 for “deficiencies detected…
New Delhi, Feb 4 (PTI) Insolvency board IBBI on Tuesday issued a discussion paper to provide clarity on various operational aspects including those related to coordinated resolution of interconnected entities and streamlining of submission of resolution plans. The paper proposes several amendments to address operational challenges in the resolution framework. The IBBI has invited public…
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Christchurch-based medicinal cannabis company liquidated owing $9m The Press Read the original article here
The first full year of the post-COVID-pandemic era was characterized in the United States by continued economic recovery, persistently high consumer interest rates—despite three cuts in the benchmark federal funds rate in 2024, low unemployment, lower but still stubborn inflation, supply-chain disruptions caused by overseas conflicts, changing consumer spending preferences, the persistent malaise of the…