Major private debt collector Panthera Finance has appointed new directors and put parts of the company into administration as it seeks to sell off its scandal-plagued business. Last month, Guardian Australia revealed Panthera, one of the country’s biggest private debt collection firms, had circumvented a blacklisting designed to stop it from operating in Victoria and…
Constance Hall has put her online fashion business into voluntary administration. The mother-of-six took to Facebook late Thursday evening to announce she would be shutting up shop on Queen The Label after being ‘stressed out for seven years’. In a long-winded post, Constance, 40, said she ‘dreaded’ breaking the news, and that administrators will be coming…
On Thursday, the Supreme Court of India declined to defer or impose a stay on the operations of a Committee of Creditors (CoC) recently established to oversee the corporate insolvency resolution process (CIRP) for the ed-tech firm Byju’s [Glas Trust Company LLC v. Byju Raveendran and ors]. The Bench, comprising Chief Justice of India (CJI)…
Introduction 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…
Prof Jason Harris, Sydney Law School One of the problems is that our insolvency laws adopt a ‘one-size-fits-all’ approach that makes little distinction between winding up a national transport company and dealing with a failed corner store business. This work must be paid for and while the former may well justify the attention of what…
Hong Kong to Introduce Corporate Rescue Regime and Insolvency Trading Regime Herbert Smith Freehills Read the original article here
Project Overview Fraudulent phoenix activity is of great concern to Australian policymakers. It occurs where there is the deliberate liquidation of a company to avoid paying debts but the business continues through another company, and in corporate groups through the liquidation of undercapitalised subsidiaries and transfer of business to other companies in the group. This…
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New figures from Deloitte Ireland show that the number of corporate insolvencies jumped by 47% in the first quarter of 2024 compared to the same time last year and could reach a total of 800 by the end of the year. Deloitte’s latest Insolvency & Restructuring Statistics reveal 214 corporate insolvencies during the first three…
The staff who fear they ‘lost everything’ in Crown Agents collapse Devex Read the original article here