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Retail chains in the Netherlands have increasingly found ways to continue operating after declaring bankruptcy, often in a slimmed-down form, De Telegraaf reports. These companies frequently leave suppliers, landlords, and employees with little to no compensation. While some question the fairness of this process, courts often view it as the “least bad outcome” when a company faces insolvency.
On Tuesday, fashion retailer Vanilia filed for bankruptcy but may continue its operations due to “interest from multiple serious buyers,” according to the bankruptcy trustees. While negotiations are underway, the company’s stores remain open. However, this does not necessarily mean rent payments are being made. The staff has not been let go, but if…
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After nearly 50 years in business, The Container Store on Sunday filed under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas and expects to confirm a reorganization plan within 35 days. The process doesn’t include its Swedish Elfa business, according to a company press release.
Just days ago, the New York Stock Exchange suspended trading of the company’s shares and initiated…
Insolvency and Bankruptcy Board of India (IBBI) Chairman Ravi Mital said there is a growing need to improve liquidation outcomes under the Insolvency and Bankruptcy (IBC) Code, 2016.
“It is observed that till December 2024, in the completed liquidation cases, the amount realised by claimants has been very low as compared to the Corporate Insolvency Resolution Process (CIRP), and in some cases it has been even lower than the liquidation value,” he said in the IBBI’s quarterly newsletter for October-December 2024.
The main objective of the IBC is resolution of distressed companies. However, when all attempts to resolve the company fail, the next alternative is liquidation of the company involving sale of assets of the company and…
THE Government Service Insurance System (GSIS) launched a loan buyout program, offering government workers a chance to consolidate their debts at interest rates as low as six percent.
GSIS President and General Manager Wick Veloso emphasized the pension fund’s mission to shield members from excessive interest rates in the lending market.
MPL Max offers qualified borrowers the opportunity to borrow up to 19 times their salary or P5 million, whichever is lower, with payment terms extending up to 10 years.
To qualify, members must have paid at least one month of premium contributions within the past 6 months, have no existing multipurpose loans and no defaulted GSIS Financial Assistance Loans.
