Corporate insolvencies will occur at rate of almost three per day this year, forecasts PwC – The Irish Times

There will be close to 1,000 corporate insolvencies this year after finalised figures for 2023 came in higher than expected at 717, according to the latest insolvency barometer from professional services company PwC Ireland. The accountancy giant said there had been an uptick in business failures in the fourth quarter of 2023 and that having…

Insolvency, mediation, bankruptcy, corporate philanthropy are subjects of future – Deccan Chronicle

Nalsar University of Law. Hyderabad: The Institute of Company Secretaries of India (ICSI) and Nalsar University of Law co-hosted the first edition of Corpcon-2024 at Nalsars Shamirpet campus, which ended on Sunday. The three-day workshop on developments and trends in corporate laws and governance provided a platform for knowledge exchange and collaboration focusing on corporate…

China Debt Crisis: Wealth manager Zhongzhi files for bankruptcy liquidation – WION

WION Video Team  | Updated: Jan 07, 2024, 11:00 AM IST The ongoing property crisis in China has taken down another company. This time, it is wealth management firm Zhongzhi, which filed for bankruptcy liquidation. Zhongzhi applied for bankruptcy arguing it could not repay its debts due to insufficient assets. Read the full article at: https://www.wionews.com/videos/china-debt-crisis-wealth-manager-zhongzhi-files-for-bankruptcy-liquidation-677370

Troubled Investment Giant Zhongzhi Filed for Bankruptcy Liquidation – Caixin Global

Chinas embattled investment conglomerate Zhongzhi Enterprise Group Co. Ltd. has filed for bankruptcy liquidation, shortly after it disclosed a financial shortfall of up to $36.5 billion. A court in Beijing said Friday it has accepted Zhongzhis application for bankruptcy liquidation, in which the company stated that its assets are insufficient to cover all liabilities and…

Industry pressures push Wayward into voluntary administration – Beer & Brewer

Sydney-based Wayward Brewing Co. and its co-owned distribution business Local Drinks Collective have entered into voluntary administration, seeking financial restructuring to cope with adverse economic conditions facing the craft beer industry. Local Drinks Collective is jointly operated with Batch Brewing Co, although Batch is not involved in the administration process. DBA Reconstruction & Advisory has…

Navigating Business Liquidation: Essential Strategies For Entrepreneurs In Challenging Times – Forbes

In the wake of the pandemic, many businesses have faced unprecedented challenges. The U.S. Bureau of Labor Statistics revealed that 56% of establishments experienced decreased demand, while 19% had to close due to government mandates. These daunting statistics reflect a harsh reality where entrepreneurs have had to make the difficult decision to liquidate their businesses.…

IBC | Statutory Set Off Or Insolvency Set Off Inapplicable To Corporate Insolvency Resolution Process:… – Live Law – Indian Legal News

The Supreme Court has held statutory set off or insolvency set off is not applicable to Corporate Insolvency Resolution Process (CIRP) proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC). Further, Regulation 29 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations), which provides for mutual dealing and set off,…

Corporate insolvencies reach highest level in five years after 25% rise in 2023 – The Irish Times

Corporate insolvencies reached their highest level last year since 2018, with the hospitality and construction sectors both seeing a 62 per cent rise, according to an analysis by professional services company Deloitte. Some 663 corporate insolvencies were recorded in 2023, according to statistics compiled and published by Deloitte Ireland, with this number up 25 per…