MLT Aikins lawyers Dana Nowak and Paul OIfert will be featured panellists at the Annual Review of Insolvency Law (ARIL) February 7 in Montreal.

Discussions will focus on two topics: environmental regulatory cleanup obligations when a company is insolvent, and what Canadian companies need to know about the limitations period in insolvency proceedings.

Panel: “Calming Troubled Waters” – Dana Nowak

Dana Nowak, a litigator and partner with MLT Aikins Calgary, will present a paper titled Calming Troubled Waters, co-authored by Carly Toronchuk, an associate from the Edmonton office.

“We’re exploring the change in regulatory engagement in formal insolvency proceedings following the Supreme Court of Canada’s…

MORE than 40 per cent of adults in Britain expect their financial situation to worsen this year — and energy bills will be the cause.

The StepChange Debt Charity, which helps people manage their debts, said that of the 41 per cent who expected to be worse off, 59 per cent blamed higher energy bills.

Since the energy crisis began in 2021, 20 energy companies in Britain made a staggering £457 billion in profits by August last year, according to the End Fuel Poverty Coalition.

A survey by StepChange found that 17 per cent of adults said they always worried about money and 59 per cent said they often or sometimes worried about money.

Women in particular said they were worrying more about money now than a year ago — 58 per cent…

The Office of the New York State Attorney General (OAG) protects consumers from illegal debt collection, deceptive credit and debt counseling, identity theft, and mortgage and loan fraud. We investigate businesses that may be operating illegally. If a business is violating the law, we pursue satisfactory outcomes, such as restitution or changes in business practices under governing laws, rules, and regulations.

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A consortium of charities are today warning that that high debt servicing costs are preventing Global South governments from spending on vital public services such as education and health and making investments to limit the impact of the climate emergency.Thirty-two African countries spend more on paying external debts than they do on healthcare.

UK charities including CAFOD, Christian Aid, Save the Children, Oxfam, Debt Justice and the international development network, Bond, are gathering outside the UK Treasury to launch a campaign calling for a debt cancellation initiative in the Jubilee year of 2025.

Debt payments for lower-income countries are at the highest level in 30 years. Private lenders are the largest group of creditors,…

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MUMBAI: Citing significant governance lapses and repeated defaults in payment obligations, the Reserve Bank of India has superseded the current management and board of mid-tier home loan company Aviom India Housing Finance. It has appointed Ram Kumar, former Chief General Manager of Punjab National Bank, as the administrator. The RBI has also announced plans to initiate the insolvency and bankruptcy process soon.

In a statement issued on Monday, the regulator stated that the action was taken based on the recommendation of the National Housing Bank, the sectoral regulator, and in accordance with the powers granted under Section 45-IE(1) of the RBI Act. The statement further noted that…

The National Company Law Appellate Tribunal (NCLAT) on Monday set aside a plea against HUL, filed by an operational creditor seeking initiation of insolvency proceedings against the FMCG major.

The appellate tribunal has upheld an order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which on September 5, 2024 had set aside a plea filed under Section 9 of IBC by K Lakshmi Narayana, Proprietor of Lalithambica Enterprises, alleging default.

The NCLT had found that the sum of the invoices, which was within the three-year limitation period, was less than the threshold limit of ₹1 crore.

Besides, the appellate tribunal noted that HUL’s submission relates to a pre-existing dispute, for which a legal notice was issued…