Insolvency Guardian Media Centre
Student debt relief vow pays off for Labor The Australian
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The Supreme Court of New South Wales awarded a personal costs order against voluntary administrators appointed on the afternoon before the hearing of an application to wind up CII Group Pty Ltd (In Liquidation) ACN 106 253 310 (CII) for applying to adjourn the hearing pursuant to section 440A(2) of the Corporations Act 2001 (Cth) (Act).
Justice Black’s decision is a cautionary tale for appointees that fail to adequately verify the merits of a voluntary administration prior to an imminent winding up application, that the standard for the Court to be satisfied to grant an adjournment sought under s 440A(2) of the Act requires a “sufficient possibility”, and not speculation, that creditors of the defendant-company would be…
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This article first appeared in the International Comparative Legal Guide – Restructuring & Insolvency 2025, which covers common issues in restructuring and insolvency, including issues that arise when a company is in financial difficulties, restructuring options, insolvency procedures, tax, employees and cross-border issues.
1. Overview
1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions?
Bermuda can be described, for the most part, as a creditor-friendly jurisdiction. Secured creditors can generally enforce their security outside of the insolvency process, and the insolvency legislation is pro-creditor. It provides, in particular, for the right of an unsecured…
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Car dealer Joseph Harrison applied for two Covid Bounce Back loans, totalling £90,000 on behalf of his company.
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He was only entitled to one Covid loan for his company, South East Commercials Ltd, under the rules of the scheme.
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Harrison was subject to a director disqualification order which came into effect on 6 May 2025 following a hearing at the High Court in London.
A car dealer from Kent – who is now living in Spain – has been banned from being a company director for 12 years after his company received a second £45,000 Covid Bounce Back loan it was not entitled to.
Joseph Harrison, from Wrotham, was the director of South East Commercials Ltd – a used car sales dealership in Kent…
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Asbestos claimants on Thursday asked a federal appeals court to dismiss the Chapter 11 bankruptcy filing of a Georgia-Pacific subsidiary, arguing that the corporate spinoff is not a debtor under the U.S. Constitution and therefore a bankruptcy judge lacked jurisdiction.
The claimants, who say they were exposed to asbestos from Georgia-Pacific’s products, argue that Article I’s Bankruptcy Clause only allows entities that cannot pay debts due to a threat to their economic viability to file for bankruptcy. The paper and packaging company’s Bestwall subsidiary does not fit the Founding-era concept of a bankrupt debtor, the claimants contend.
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In a raw, emotional moment that has tugged at the hearts of many online, Guinness World Record-holder Chef Maliha went on to reveal that she was behind on bills and in urgent need of Sh33,000.
Holding back tears, she admitted that asking for help was not easy but it was her only option.
The celebrated culinary star, best known for her record-shattering 150-hour cooking marathon, revealed she has been battling a silent storm behind the scenes.
In a deeply personal video posted to her Instagram, Maliha laid bare the financial struggles she has faced over the past five months, culminating in a desperate appeal for help to avoid eviction from her home.
“Hi, Salaam Alaikum. This is Chef…
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Surge in Student Loan Borrowers Pleading for Money to Help Pay Off Debts MSN
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10Club Files for Insolvency Amid Mounting Financial Challenges: Entrackr Moneylife
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A popular women’s activewear business that is headquartered in Noosa has entered voluntary administration, with creditors claiming they are owed more than $640,000.
Exotic Athletica Pty Ltd appointed administrators on April 9, a notice with the Australian Securities and Investments Commission states.
The company operates the fashion label Exoticathletica, which according to its website was founded in 2014 by Leilani Chandler. It briefly had an outlet at Sunshine Plaza that opened in 2019.
The administrators are Terry van der Velde and Matthew Hudson from SV Partners.
A first meeting of creditors was held on April 23, with the minutes from the meeting stating four creditors had claims totalling $647,454.
“The appointment was due to…
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Liquidator’s report outlines Hāwera restaurant’s struggles thepost.co.nz
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WeightWatchers has filed for Chapter 11 bankruptcy, and in an exclusive interview aired on TODAY May 7, WW CEO Tara Comonte is revealing how the move will affect its 3.4 million members.
She stressed that the weight-loss company — which destigmatized weight loss and is lauded for pioneering one of the best weight loss programs — has no plans of shutting down.
According to Comonte, filing for bankruptcy is a twofold strategic move that will tackle the company’s more than a billion-dollar debt and give the business a boost to help it compete with an oversaturated weight-loss industry.
Why did WeightWatchers file for bankruptcy?
WeightWatchers is over $1 billion in debt, but it is not going out of business, and the bankruptcy decision…