Insolvency Guardian Media Centre
Shortly after celebrating its 25th anniversary, Crumpler is filing for Voluntary Administration, citing the pandemic and ongoing lockdowns as the core reason for its collapse.
The investment firm that owns the retailer, Crescent Capital Partners, has enlisted Jason Stone and Glenn Franklin from PKF Melbourne to handle the administration process.
The retailer has undergone a series of changes in the last 18 months, from acquiring the collapsing Tigerlily in 2020 to the departure of its CEO Adam Wilkinson in August 2021. Wilkinson is now the CEO of The PAS Group.
Crescent Capital Partners acquired Tigerlily in July 2020. This came after the swimwear retailer collapsed in March that same year. Tigerlily cited COVID-19 as the core reas…
Read the full article at: https://powerretail.com.au/news/breaking-crumpler-files-for-voluntary-administration/
Jet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator due to the insolvency proceedings against the company in the Netherlands, has been sold, and the proceedings will mainly be utilised to close the process.
Jet Airways is facing insolvency proceedings in the Netherlands in response to a complaint, where it was declared bankrupt in response to a complaint by two European creditors.
“This is now to inform that as per the information received from the Dutch Administrator, the equipment (the aircraft) under the custody of the Dutch Administrator has been sold to IAGCAS 777, LLC, for USD 9-million under the Dutch Insolvency Process,” Jet Airways Monitoring Committee…
Read the full article at: https://www.businesstoday.in/industry/aviation/story/jet-airways-boeing-777-sold-in-netherlands-insolvency-process-to-close-now-305936-2021-09-05
Were a middle-age married couple without kids or a mortgage. Weve been married for a few years, and my partner has had a gambling problem since before our marriage.
The issue escalated during Covid. Though our income decreased, the more time available meant more gambling time to him. I took several loans to cover his debts, and I was paying everything for him. Fortunately, our income level came back to the previous level. We managed to clear off all the loans, but he still owes me six digits, including the amount I lent him before marriage.
Despite all of that, he insists that our income from now on is our shared asset and isnt going into my pocket. I think his income should go into my pocket until he pays off the $150,000 …
Read the full article at: https://www.yakimaherald.com/news/business/pennyhoarder/dear-penny-can-i-make-my-husband-pay-me-for-150k-gambling-loss/article_833db4a2-9b7e-53e9-a519-f55cda420fd7.html
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Nearly every American carries some kind of debt, whether they’re paying for a house, a college degree or a new laptop. And you’re not alone if you wonder just how much income should be allocated toward paying off credit cards, car loans, student loans and/or your mortgage each month?
Generally, a good overarching rule to follow is to pay as much as you can each month in excess of the minimum payment.
“This will not only help you pay off your debt sooner but can save you a significant amount of money in interest p…
Read the full article at: https://www.cnbc.com/select/how-much-money-to-put-towards-debt/
Serial entrepreneur C Sivasankaran, promoter of Siva Industries, has filed an appeal in the National Company Law Appellate Tribunal (NCLAT), Chennai, against the recent order of the National Company Law Tribunal (NCLT), Chennai, on liquidation of Siva Industries.
The matter is listed for hearing on Monday.
The NCLT, on August 12, ordered liquidation of Siva Industries and rejected lenders proposal to withdraw the company from bankruptcy proceedings. It also rejected the application filed by Resolution Professional of Siva Industries.
The NCLT Bench said thatboth the Committee of Creditors (CoC) and promoter of the corporate debtor had not reached a final decision as per Clause 2 of Chapter VIII of the settlement proposal. Hence based on…
Read the full article at: https://www.thehindubusinessline.com/companies/c-sivasankaran-files-appeal-against-order-on-siva-industries-liquidation/article36301403.ece
Corporate money has a powerful and malign influence on so many aspects of American life. But even by that low standard, events this week in a New York bankruptcy court are shocking. The legal system has effectively allowed one of the countrys richest families to buy its way out of accountability for what a White House commission called Americas national nightmare of mass opioid addiction.
On Wednesday, the court approved a deal for the dissolution of the opioid manufacturer Purdue Pharma, which kicked off the opioid epidemic two decades ago with its illegal drive to sell a high-strength painkiller, OxyContin. Purdues owners, members of two branches of the now-notorious Sackler family, are estimated to have made more than $10bn from the dr…
Read the full article at: https://www.theguardian.com/commentisfree/2021/sep/05/opioids-killed-600000-americans-sacklers-immunity
Jet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator due to the insolvency proceedings against the company in the Netherlands, has been sold, and the proceedings will mainly be utilised to close the process.
Jet Airways is facing insolvency proceedings in the Netherlands in response to a complaint, where it was declared bankrupt in response to a complaint by two European creditors.
“This is now to inform that as per the information received from the Dutch Administrator, the equipment (the aircraft) under the custody of the Dutch Administrator has been sold to IAGCAS 777, LLC, for USD 9-million under the Dutch Insolvency Process,” Jet Airways Monitoring Committee…
Read the full article at: https://www.businesstoday.in/industry/aviation/story/jet-airways-boeing-777-held-in-netherlands-sold-insolvency-process-to-close-now-305936-2021-09-05
The Bar & Bench Weekly IBC Diary aims to report crucial rulings of various courts and tribunals and important updates concerning the Insolvency & Bankruptcy Code (IBC), 2016.
1. SM Milkose Limited & Anr v. Parvinder Kumar Bhatt & Ors. (NCLAT, Delhi)
Issue involved:
Whether any amounts received by the corporate debtor during the currency of the Corporate Insolvency Resolution Process (CIRP) can be adjusted towards the claim of any particular financial creditor during the moratorium period imposed under Section 14 of the IBC?
Provisions:
Section 14, IBC
Decision:
Section 14(1)(b) prohibits transferring, encumbering, alienating or disposing of by the corporate debtor, any of its assets or any legal right or beneficial interest therein. …
Read the full article at: https://www.barandbench.com/columns/policy-columns/bar-bench-weekly-ibc-diary-2-liquidator-sell-corporate-debtor-coc-code-of-conduct
Dir/scr. Eric Gravel. France. 2021. 88 mins
A single mothers precarious balance of commuting and childcare is upended when an interview for a better job, one which might finally haul her out of her cycle of debt, coincides with a paralyzing transport strike. Call My Agent star Laure Calamy delivers a sympathetic but nerve-flaying performance as Julie, both a frazzled mum at the end of her tether and unflappable head chambermaid at a five-star hotel. Its a propulsively intense piece of filmmaking at times a bit like watching a highwire chainsaw juggling act about to go horribly and catastrophically wrong.
Propulsively intense
Full Time (A Plein Temps) is the second feature from writer and director Eric Gravel, his first was anothe…
Read the full article at: https://www.screendaily.com/reviews/full-time-venice-review/5163001.article
Mumbai, Sep 4 (PTI) Jet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator due to the insolvency proceedings against the company in the Netherlands, has been sold, and the proceedings will mainly be utilised to close the process.
Jet Airways is facing insolvency proceedings in the Netherlands in response to a complaint, where it was declared bankrupt in response to a complaint by two European creditors.
Also Read | IBPS Office Assistant Prelims Result 2021 Released, Candidates Can Check Their Results Online at ibps.in.
“This is now to inform that as per the information received from the Dutch Administrator, the equipment (the aircraft) under the custody of the Dutc…
Read the full article at: https://www.latestly.com/agency-news/latest-news-boeing-777-plane-in-dutch-administrator-custody-sold-insolvency-process-to-close-now-jet-airways-2816958.html
Jet Airways said one of Boeing 777 aircraft, which was under the custody of Dutch Administrator due to insolvency proceedings in Netherlands is sold, and proceedings to be utilised to close process
Topics
Jet Airways|IBC
Jet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator due to the insolvency proceedings against the company in the Netherlands, has been sold, and the proceedings will mainly be utilised to close the process.
Jet Airways is facing insolvency proceedings in the Netherlands in response to a complaint, where it was declared bankrupt in response to a complaint by two European creditors.
“This is now to inform that as per the information recei…
Read the full article at: https://www.business-standard.com/article/companies/boeing-777-held-by-dutch-sold-insolvency-process-to-close-now-jet-airways-121090401089_1.html
MANILA, Philippines–(BUSINESS WIRE)–Philippine Airlines Inc. (PAL) announced today that it has entered into a series of agreements with substantially all of the Companys lenders, lessors, and aircraft and engine suppliers, as well as its majority shareholder, to allow the Company to successfully restructure and reorganize its finances to navigate the COVID-19 crisis and emerge as a leaner and better-capitalized airline.
The restructuring plan, which is subject to court approval, provides over US$2.0 Billion in permanent balance sheet reductions from existing creditors and allows the airline to consensually contract fleet capacity by 25% and includes US$505 Million in long-term equity and debt financing from PALs majority shareholder a…