Insolvency Guardian Media Centre
Summary
- Duncan Ferguson was declared bankrupt in 2016.
- The former Everton and Newcastle United striker earned £30,000 p/w during his peak.
- Ferguson spoke openly about the heartbreaking ordeals he went through after being declared bankrupt.
There are very few men in Premier League history as infamous as Scottish target man Duncan Ferguson. The former Newcastle and Everton striker was revered as…
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https://errors.edgesuite.net/18.d1672817.1746356159.6020f124
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Tackling Liquidity and Debt Challenges in Developing Countries: Key takeaways from the Global Sovereign Debt Roundtable International Institute for Sustainable Development
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Our Plan for a Sustainable Budget Liberal Party of Australia
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Occupational pension schemes often constitute a significant part of liabilities in the event of the employer’s insolvency and therefore play a fundamental role in insolvency proceedings for all involved stakeholders (insolvency administrator, employer/insolvent debtor, pension beneficiaries, the German Pension Protection Funds (“PSV”), investors in the event of continuation of companies’ business after closing of insolvency procedure. In practice, challenges arise in relation to occupational pension schemes operated by way of direct commitments that are fully or at least partially financed by the (now insolvent) employer and funds held in a contractual trust agreement (CTA). On the one hand, an insolvency administrator, the…
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The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Baurn Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that in a joint application filed by operational creditors under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code), the threshold limit prescribed under Section 4 must be independently satisfied by each operational creditor. The collective or aggregate debt of all operational creditors cannot be clubbed to meet the minimum threshold requirement for initiating the Corporate Insolvency Resolution Process (CIRP).
Brief Facts:
Appellants were appointed with different designations by the Company – M/s Desein Private…
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The Supreme Court of India has rejected JSW Steel’s much-publicized resolution plan for Bhushan Power and Steel Limited (BPSL), ordering the liquidation of the debt-ridden company. This verdict, delivered by a bench comprising Justice Bela M Trivedi and Justice Satish Chandra Sharma, comes four years after JSW Steel completed its acquisition of BPSL under the Insolvency and Bankruptcy Code (IBC). The court’s decision is a major blow to JSW Steel, which is led by Sajjan Jindal. The company had hoped that the acquisition would increase its operational capacity and strengthen its position in eastern India.
The Supreme Court found that the resolution plan, valued at ₹19,700 crore, was “illegal” and in direct violation of the IBC…
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Reference #18.d1672817.1746330402.59f30c72
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Turning Debt Into Hope: A call for justice in the Jubilee Year Caritas Australia
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Coalition costings to settle on deficit, debt reduction The Queanbeyan Age
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What’s going on here?
KKR’s stake in Switzerland’s Selecta Group, a top vending machine outfit, is changing hands through a debt overhaul to cut 1.1 billion euros of debt.
What does this mean?
Selecta’s creditors, including Invesco and Man Group, are taking the reins in a pivotal recapitalization move. This plan injects 330 million euros to refinance debt and boost liquidity, aiming to stabilize Selecta’s finances. It’s in line with credit market trends where creditors prefer control over risking defaults. Completion is on track for the second quarter, signaling a fresh era for Selecta with its new leadership consortium.
Why should I care?
For markets: Debt relief fuels market curiosity.
Selecta’s restructuring reflects a trend of…
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The real cost of Africa’s debt crisis – and how to fix it The Africa Report.com