After suspension of the corporate insolvency resolution process (CIRP) is lifted after March 24, Insolvency and Bankruptcy Code (IBC)-related activity is likely to go up. However, experts are of the opinion that there wont be an immediate increase in the number of cases being filed at the National Company Law Tribunal (NCLT).
This is because financial creditors are likely to weigh their options carefully before taking a company through the insolvency process. But a surge in filings for CIR…
Read the full article at: https://www.business-standard.com/article/economy-policy/ibc-activity-likely-to-see-gradual-rise-after-resumption-say-experts-121032301580_1.html
China, like the United States, is a party to the Berne Convention for the Protection of Literary and Artistic Works. As such, in general any literary or artistic work created in the US will also be protected in China.
Unlike trademark rights, which are based on use or registration (depending on the country of adoption and use), copyright rights are automatically generated once the creation of the relevant work has been completed and do not require any compulsory registration. Nonetheless, some Berne Convention countries, including China and the US, offer a system of voluntary copyright registration in order to provide a way for the copyright owners to record the particulars of the copyright in the works they created/own and other relat…
Read the full article at: https://www.jdsupra.com/legalnews/advantages-of-voluntary-copyright-9513556/
TAMPA, Fla. Global Eagle Entertainment, a provider of media services and satellite Wi-Fi to aircraft, boats and remote locations, has exited Chapter 11 bankruptcy.
Around half a dozen of the satellite communication providers lenders took control of the company March 23, shedding about $488 million of its debt in the process.
The new owners have also invested around $218 million in the business to strengthen its balance sheet.
The Los Angeles-based company reported close to $1.1 billion in debt when it filed for bankruptcy protection in July 2020. It collapsed into bankruptcy after the pandemic significantly reduced airline and cruise line activities.
Global Eagles lighter debt load helps position the company to take advantage of reco…
Read the full article at: https://spacenews.com/global-eagle-entertainment-completes-chapter-11-restructuring/
Grocons administrators have advised against winding up the collapsed construction giant after revealing the complex group has been insolvent since February 2019, deeming a deed of company arrangement in the best interests of creditors.
Grocon has placed 88 subsidiaries – many of them dormant – in the hands of KordaMentha, blaming its plight on the Central Barangaroo project in Sydney, dominated by Crown Resorts new casino.
Grocon alleges rival Lendlease and Crown Resorts reached a secret deal with Infrastructure NSW on building heights in 2019, protecting the rights of Crown tower Sydneys tallest building to unobstructed views of the harbour.
Grocon is now embroiled in litigation with the state government, seeking compensation in th…
Read the full article at: https://www.ntnews.com.au/business/breaking-news/grocon-administrators-advise-against-liquidation-large-creditors-to-get-3c-in-the-dollar-under-proposed-plan/news-story/d938872eba4d47a5e46a8f93f994e3d4
Representative Image | Pic: Pixabay
National Company Law Tribunals (NCLT) across the country admitted a total of 283 companies into insolvency amid the pandemic after the announcement of the nationwide lockdown last year.
In a written reply to the Lok Sabha, the Minister of State for Corporate Affairs, Anurag Thakur, also said that during the period of April 1, 2020 and December 31, 2020, a total of 76 corporate insolvency resolution processes (CIRP) ended in resolution, 128 CIRPs were closed due to withdrawal or appeal or settlement and 189 companies went into liquidation. Further, the government temporarily suspended the initiation of CIRP under Section 7, 9 and 10 of the Code for a period of six months or such further period not…
Read the full article at: https://www.edexlive.com/news/2021/mar/23/over-280-companies-across-the-country-declared-bankrupt-amid-pandemic-19228.html
For many people, gambling is not just a one-time lottery purchase on their 18th birthday or a game of blackjack at a bachelor party in Las Vegas. Gambling, for some, becomes an addictive activity that depletes their bank account and ruins their marriage.
Even if your spouse does not gamble every day and can afford to lose big at the roulette table, they may have a problem. Some of the telltale signs of gambling addiction include:
- The inability to scale back or quit gambling.
- Placing larger and larger bet.
- Feeling an urge to keep gambling after losing.
- Lying to conceal the extent of their gambling problem.
Susies Unfortunate Story
Pathological gamblers do not make good partners. Typically, spouses pay the price of their partner’…
Read the full article at: https://www.kiplinger.com/personal-finance/602480/what-to-do-to-protect-your-finances-when-your-spouse-has-a-gambling-problem
The federal promise of $4 billion in debt relief for minority farmers, part of the Biden administrations $1.9 trillion pandemic relief package, is a step toward justice, said three Democratic senators on Monday. They said the next step should be passage of legislation to root out discrimination at the USDA, transfer up to 32 million acres of land to Black farmers, and assure producers of a fair price when they sell livestock to meat processors.
Advocates call the debt relief provision the most pivotal civil rights legislation since the1964 civil rights lawthat prohibited segregation and banned discrimination in employment because it could preserve farming as a way of life for Black Americans. Less than 2% of U.S. farmers are Black today…
Read the full article at: https://www.agriculture.com/news/business/debt-relief-is-just-the-first-step-toward-racial-equity-in-agriculture-say-senators
The year 2020 changed life for families across the globe. Amid major adjustments like working from home, virtual schooling and new healthcare precautions, there was another area where Americans experienced change. The Covid-19 pandemic altered credit card habits for consumers nationwide.
During a year when millions were stuck at home and unemployment rates reached a record high, credit card debt took an unexpected downward turn. According to Experian, consumers lowered their credit card debt by an impressive 14% during 2020.
Read on to discover how your credit card management habits measure up to others. Youll also find some tips on how you can reduce your credit card debt and tools you can use if your debt seems overwhelming at present…
Read the full article at: https://www.forbes.com/advisor/credit-cards/how-much-do-you-owe-how-credit-card-debt-changed-in-2020/