Corporate Insolvency & Restructuring Report 2020: Covid-19 Special Focus: South Korea – International Financial Law Review

Liquidation

Unlike in the US or Europe, Korea has not implemented drastic measures against Covid-19, such as compulsory lockdowns, and whether Covid-19 has significantly dented Korea’s economic activity remains unclear. However, the country’s manufacturing sector relies heavily on exports and these are declining, rendering any likelihood of an economic rebound in the second half of the…

End of an era: company liquidation routes for struggling businesses – Director of Finance

Liquidation

Guest post by Jonathan Munnery, UK Liquidators The coronavirus pandemic continues to leave a visible footprint as it disrupts every sector, leaving no shopfront untouched. As each business, from start-ups to SMEs establish strategies to protect their livelihoods, the economic pressure deriving from Covid-19 has pushed unstable businesses over their last leg of trading. As…

Motorhomes boss banned after creditors claim £660k in liquidation – GOV.UK

Liquidation

St Andrews Motorhomes Limited was incorporated in June 1993 to buy and sell motorhomes in Central Scotland. Christine Helen Galloway (65), from Cupar, Fife, was a director of the company since its incorporation. The company, however, began to struggle and ceased trading in July 2018, before entering into compulsory liquidation. St Andrews Motorhomes insolvency brought…

Confirmation Yingli parent company shareholders will be wiped out – pv magazine International

Liquidation

A filing made to the Securities and Exchange Commission today has confirmed holders of stock in Yingli Green Energy Holding Co Ltd will be left empty-handed some time around the end of the month. September 24, 2020 Max Hall Shareholders have heard the news they have long expected. Image: geralt/Pixabay Shareholders in the parent company…

Worker payments an ‘obstacle’ to saving thousands of company failures – The Australian Financial Review

Liquidation

“A lot of SMEs will be ineligible to use the new scheme and that might mean that the only option is to go into liquidation.” Clayton Utz restructuring and insolvency partner Jennifer Ball said the initial requirement to pay employee entitlements could be an “obstacle” for small firms. The current temporary director insolvency measures which…

Lifeline for small businesses in Australia with new ‘Chapter 11’ US-style bankruptcy laws – Daily Mail

Liquidation

Huge changes to bankruptcy laws mean the way Australians do business will change FOREVER … here’s what it means for YOU Small businesses on brink of collapse could be saved by newbankruptcy laws Treasurer Josh Frydenberg has unveiled biggest insolvency change in decades Draws on features of the ‘Chapter 11’ bankruptcy code used in the…

Businesses can keep trading: Bankruptcy law changes to keep firms open – Sydney Morning Herald

Liquidation

“The reforms are a critical part of our economic recovery plan and will help to boost business confidence and dynamism across the economy by allowing viable businesses to survive as our economy rebuilds,” Mr Frydenberg said. Loading The changes come as Mr Frydenberg resets fiscal policy to drop old assurances about a return to surplus…