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“The hospitality industry is struggling and has been since the Covid-19 pandemic. Globally, it’s hard out there for people and when the dollar is tight, this sector suffers,” liquidator Stephen Lawrence told RNZ at the time.
The Global Engagement Center, an office housed within the State Department and aiming to thwart disinformation and misinformation, has been forced by Congress to close up shop. It’s no mystery why; the taxpayer-backed GEC violated its mandate to work only overseas and devolved into a partisan enabler of speech suppression in the United States.
Here’s how.
Founded in 2016 and technically the product of an Obama-era executive order on counterterrorism, the GEC lapsed in December and lost congressional funding. Over the last two years, my investigative reporting in the Washington Examiner as well as that of…
The case involves Siti Networks Ltd. (formerly Siticable Network Ltd.), represented by its Resolution Professional Rohit Ramesh Mehra (Appellant).
Rajiv Suri, a businessman (Respondent).
Background:
The Appellant is undergoing a Corporate Insolvency Resolution Process (CIRP) initiated on February 22, 2023, under the Insolvency and Bankruptcy Code, 2016 (IBC).
In June 2016, the Appellant was ordered to pay Rs. 15,00,000 as damages to the Respondent for breach of contractual obligations by Siti Networks Ltd.
The court found the Appellant had failed to fulfill its contractual duties,…
The Department for the Economy (the Department) has accepted disqualification undertakings from the directors of a company involved in other business support activities not elsewhere classified.
The undertaking was received for six years from Brian Donaghy (41) of Tandragee Road, Pomeroy, Dungannon, and for four years from Roddy Baxter (45) of Lever Road, Portstewart, Co. Londonderry, in respect of their conduct as directors of Agri-Trans Ltd (“the Company”).
The Company was involved in other business support activities not elsewhere classified with a registered office at 94 Ballycastle Road,…
The first major review of Australia’s corporate insolvency regime in more than 30 years, the Federal Government’s Parliamentary Joint Committee on Corporations and Financial Services (‘Committee’) has announced a “root and branch” overhaul of the structures regulating corporate insolvency within Australia (‘Inquiry’).
Why now?
With the last major review of Australia’s corporate insolvency regime occurring through the Harmer Report in 1988, the Committee’s current Inquiry has been prompted from a series of recent challenges to Australia’s economy, including:
the COVID-19 pandemic and the introduction of temporary (now lapsed) insolvency measures, such as:
What’s behind this acceleration? The recession in corporate revenues is gaining traction amid lower pricing power and weaker global demand: As of Q2 2023, the revenue recession has been broad-based across all regions for the first time since mid-2020 (-1.9% y/y). This combined with continued high costs is squeezing profitability. As a result, liquidity positions are worsening fast and not likely to improve before 2025.
“Companies still have a sizable amount of excess cash, EUR3.4bn in the Eurozone and USD2.5bn in the U.S. But these cash buffers remain highly concentrated in the hands of large firms and in specific sectors such as tech and consumer discretionary. And in general, most companies are unable to…
