In May, 2020, Amy Shishler, whose last known address was St Johns Gardens in Bury, caused her retail company Precious and Posh Ltd to make a bounce back loan (BBL) application of £20,000.

In a report, government agency The Insolvency Service said she did this “when she knew, or ought to have known, that the company turnover did not support such an application”.

The 39-year-old from South Africa “made a wrongful declaration by overstating the company’s turnover”, and as a result the company received £16,156 more BBL funds than it was entitled, the report said.

Under the BBL scheme during the pandemic, businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25 per…

Thousands of cruise passengers, including some New Zealanders, could be included in a class action against cruise line companies over their lax onboard gambling rules.

The Australian law firm leading the action, Carter Capner Law, says some passengers who could not afford to settle their bills had been “unlawfully detained”.

One regular cruise passenger, who has joined the class action, told Nine to Noon that on his first cruise about 10 years ago, he had no idea he was borrowing money to gamble.

“It just spun really badly out of control,” said the man, who admitted he probably had “a bit of an underlying gambling problem”.

“At 21, I didn’t have too much money, and my final bill was…

Creditors have recovered around Rs 3.55 lakh crore through resolution of 1,068 cases under the insolvency law till September this year, the government said on Monday. In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Harsh Malhotra also said that a total of 1,963 CIRP cases are ongoing and out of them, 1,388 have exceeded the time limit of 270 days.

CIRP refers to Corporate Insolvency Resolution Process.

The minister emphasised that realisation under the IBC is market driven and dependent on quality of assets at the time of resolution.

“A total of 1,068 cases have been resolved under the Insolvency and Bankruptcy Code, 2016 (IBC) leading to a recovery of about Rs 3.55 lakh crore to the creditors since…

New Delhi, Nov 25 (PTI) Creditors have recovered around Rs 3.55 lakh crore through resolution of 1,068 cases under the insolvency law till September this year, the government said on Monday.

In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Harsh Malhotra also said that a total of 1,963 CIRP cases are ongoing and out of them, 1,388 have exceeded the time limit of 270 days.

CIRP refers to Corporate Insolvency Resolution Process.

The minister emphasised that realisation under the IBC is market driven and…

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Kingston, NY, Nov. 25, 2024 (GLOBE NEWSWIRE) — Miller/Howard High Income Equity Fund (NYSE: HIE) (the “Fund”) announced today that the Fund completed its liquidation following the close of business on November 22, 2024. The liquidation was performed in accordance with the Fund’s investment objectives and organizational documents, consistent with the Fund’s previously announced liquidation plans and its stated 10-year term.

Upon its liquidation, the Fund had a final…

Creditors in India have managed to reclaim an impressive Rs 3.55 lakh crore by resolving 1,068 cases under the insolvency law by September this year, as reported by the government on Monday.

According to Harsh Malhotra, the Minister of State for Corporate Affairs, 1,963 Corporate Insolvency Resolution Process (CIRP) cases remain unresolved, with 1,388 surpassing the 270-day limit established by law.

Malhotra pointed out that the outcomes under the Insolvency and Bankruptcy Code (IBC) are largely driven by market forces and hinge on the asset quality during resolution. He further noted that, since IBC’s inception, it has undergone six amendments to enhance the resolution framework.

(With inputs from agencies.)

Since the outbreak of COVID-19 pandemic, America’s debt has increased by nearly USD 16 trillion, marking the highest debt accumulation in the history of the country.

After defeating Kamala Harris in the Presidential Election, Donald Trump is all set for his second term as President of the…

Background of the Case

The case deals with two company appeals preferred by the Appellant. The Appellant seeks to challenge the order of NCLT, Bangalore by which it was directed to be put…