Korea Credit Ratings, which downgraded Homeplus’ credit rating in February, directly pointed to MBK Partners’ management method as the reason for the downgrade.

In addition, for companies with private equity funds (PEFs) like Homeplus, strategies that focus on collecting investments are important factors in determining creditworthiness, and a close review of management’s financial policies is necessary. Korea Credit Ratings, one of the three major credit rating agencies in Korea, is expected to introduce strict standards to companies owned by PEF in the future, which is expected to have a significant impact on the overall credit rating and PEF industries.

The Homeplus Bankruptcy Company Analysis Report, which was included in the Korea…

Johnson Winter Slattery (JWS) has appointed Alistair Fleming as a partner in the firm’s Restructuring & Insolvency team. He will be based in Perth. 

Alistair practises in corporate restructuring and insolvency and commercial litigation. He advises on all aspects – both contentious and non-contentious – of informal and formal insolvency and restructuring processes, and on transactions involving corporate disputes or financial distress. 

He regularly advises companies, directors, financiers, external administrators, hedge funds, creditors, investors and restructuring professionals across most industry sectors.  In addition, Alistair has a strong general corporate litigation practice. 

Commenting on Alistair’s appointment, JWS…

THIRUVANANTHAPURAM: The Kerala State Consumer Disputes Redressal Commission has directed a builder company to give full refund and compensation to a customer who did not get the promised apartment.

The commission rejected the company’s argument citing insolvency proceedings before the National Company Law Tribunal (NCLT).

The complainant, a Thiruvananthapuram native, had booked a 3-bedroom apartment in a project proposed at Karakulam village in the district. The total cost was Rs 55,17,277. As per the agreement, construction had to be completed within 18 months from the date of agreement i.e., March 18, 2017.

Though the complainant paid Rs 43,00,123, the work was not carried out by the builder. The builder also did not respond to the…

Johnson Winter Slattery (JWS) has appointed Alistair Fleming as a partner in the firm’s Restructuring & Insolvency team. He will be based in Perth. 

Alistair practises in corporate restructuring and insolvency and commercial litigation. He advises on all aspects – both contentious and non-contentious – of informal and formal insolvency and restructuring processes, and on transactions involving corporate disputes or financial distress. Alistair is also an accredited corporate turnaround specialist, and the current Chair of the Turnaround Management Association in Western Australia. 

He regularly advises companies, directors, financiers, external administrators, hedge funds, creditors, investors and restructuring professionals…

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Reference #18.d1672817.1747002551.cd803815

https://errors.edgesuite.net/18.d1672817.1747002551.cd803815

Introduction

In 2023, a financial creditor of Compuage Infocom Limited (CIL)
initiated the Corporate Insolvency Resolution Process (CIRP) under
Section 7 of the Insolvency and Bankruptcy Code (IBC) before the
National Company Law Tribunal (NCLT), Mumbai. The CIRP was admitted
by the NCLT, and RP was appointed. CIL had assets and monies in
Singapore, and consequently, the RP sought the recognition of the
CIRP in Singapore to gain control over these assets and be
repatriated to India. This was the first time that the Singapore
High Court in Re Compuage Infocom Ltd.¹ has
given recognition of an Indian CIRP in a foreign court under the
UNCITRAL Model Law on Cross-Border Insolvency (Model
Law).² It also extended judicial…

New York/London
CNN
 — 

Tupperware, known the world over for its plastic food storage containers, has filed for bankruptcy after years of falling popularity and financial troubles.

“Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, president and CEO of Tupperware Brands Corporation, said in a statement late Tuesday.

Chapter 11 bankruptcy allows companies to solve their financial problems by restructuring. “This process is meant to provide us with essential flexibility as we pursue strategic alternatives to…

A MUM has asked strangers online to help her pay off her £2,490 credit card debt by Father’s Day.

Mother Sara Callahan took to TikTok in a desperate attempt to clear the family’s credit card debt – also explaining how she cleverly uses the popular platform to make extra cash.

2

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Sara, from the US, embarked on the debt-free journey to surprise her husband and has since found several ways to rake in money, including side hustles and Door Dash.

So far, the mum – who posts under the username @sarac1409 -…