Insolvency Guardian Media Centre

Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
PERTH (miningweekly.com) Coal miner New Hope Corporation has vowed to defend itself against legal proceedings against two of its now
National Company Law Tribunals (NCLT) across the country admitted a total of 283 companies into insolvency amid the pandemic after
New Delhi, March 23 National Company Law Tribunals (NCLT) across the country admitted a total of 283 companies into insolvency
SINGAPORE: Shares of CapitaLand jumped as much as 20 per cent on Tuesday (Mar 23), a day after the real
The San Diego campus, along with many others, suddenly shut down in 2019. SAN DIEGO (KGTV) -- The Biden administration
Concerns over constitutional property rights are hampering efforts to enhance the ability of the State's personal insolvency regime to benefit
NO liquidation appointment notices have been listed for businesses in the Ipswich Local Government Area so far today. The total
The man who led the turnaround at McGrath (ASX: MEA) will soon take the reins at another property company that
NO liquidation appointment notices have been listed for businesses in the Scenic Rim Local Government Area so far today. The
Article 0 Comments The Pennsylvania Commonwealth Court has approved the liquidation of Bedivere Insurance Company, formerly One Beacon Insurance Company,
The emergency funding will cover services until 18 May Transport for London (TfL) has accepted the Governments offer to extend
Jackie Cook | For The Bulletin When you see the word gambling, what comes to mind? Gambling is the act

PERTH (miningweekly.com) Coal miner New Hope Corporation has vowed to defend itself against legal proceedings against two of its now defunct subsidiaries, while also announcing that it had swung to a loss during the first six months of 2021.

New Hope on Tuesday told shareholders that liquidators from its former subsidiaries Northern Energy Corporation (NEC) and Colton Coal, which went into voluntary administration in mid-2019, intended to start proceedings against New Hoppe and certain former directors of both NEC and Colton in connection with alleged voidable transactions, insolvent trading, asset transfers and breaches of directors duties.

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Reports have suggested that the liquidators estimated that these claims were valu…

Read the full article at: https://www.miningweekly.com/article/new-hope-faces-legal-claims-as-it-swings-to-a-loss-2021-03-23

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 exceeding one year from March 25, 2020. The…

Read the full article at: https://www.businessinsider.in/business/news/total-283-companies-declared-themselves-as-bankrupt-amid-pandemic-after-nationwide-lockdown-reveals-nclt/articleshow/81646694.cms

New Delhi, March 23

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 exceeding one year…

Read the full article at: https://www.tribuneindia.com/news/nation/280-companies-declared-bankrupt-amid-pandemic-229334

SINGAPORE: Shares of CapitaLand jumped as much as 20 per cent on Tuesday (Mar 23), a day after the real estate behemoth announced a major restructuring plan to consolidate its fund management and lodging business into a new entity, and take its property development business private.

Market analysts were generally positive on the company’s proposed restructuring, with one describing it as highly value-unlocking.

READ:CapitaLand to separate real estate development and fund management units

The counter, which resumed trading on Tuesday after a one-day trading halt pending its announcement, surged more than 20 per cent, or S$0.68, to S$3.99 per cent at the open.

It has since trimmed gains and was last about …

Read the full article at: https://www.channelnewsasia.com/news/business/capitaland-restructuring-shares-real-estate-14468702

Art Institute

SAN DIEGO (KGTV) — The Biden administration recently announced $1 billion worth of student loan debt was being canceled. The new ruling affects 72,000 students.

Some San Diego students at a shuttered for-profit university said they were not included in that list, but are hopeful for the future.

Sanders Fabares is a graduate of the Art Institute. ABC 10News first interviewed him in 2019 after it was announced the school would suddenly be closing.

Im embarrassed, ashamed to have gone there, Fabares said at the time.

Both he and his wife went to the Art Institute. Combined, they had about $100,000 in debt. Fabares said, despite paying over the mi…

Read the full article at: https://www.10news.com/news/local-news/san-diego-art-institute-students-still-search-for-debt-relief

Concerns over constitutional property rights are hampering efforts to enhance the ability of the State’s personal insolvency regime to benefit indebted farmers.

lthough the regime has predominantly been associated with keeping debtors in their family home, the mechanism has been used in a number of landmark cases involving farms in recent times.

Calls have been made to enhance the protections offered by a personal insolvency arrangement (PIA) with regard to debt that is not attached to a principal private residence.

In a debate last week on an amendment to PIA legislation, Fianna Fil Senator Robbie Gallagher highlighted that cases where there may be no debt attached to someone’s principal private residence, but there is a debt attac…

Read the full article at: https://www.independent.ie/business/farming/news/farming-news/property-rights-concerns-limiting-value-ofpersonal-insolvency-deals-for-farmers-40227976.html

NO liquidation appointment notices have been listed for businesses in the Ipswich Local Government Area so far today. The total for the past year is 11.

News Corp analysis of ASIC Insolvency Notices and ABN Lookup data shows the locations of company liquidations across the state.

Queensland-based companies operating without an ABN were omitted from the list below, however can be found in our monthly statewide list.

Here’s the list for Ipswich, listed by postcode in date order:

4300

Wyton Employment Pty Ltd, ABN: 16159632229, Main Business Location: QLD 4300, Notice Date: March 12, 2020, Liquidator: John Maxwell Morgan

Youth Connections Group Pty Ltd Trading As Ycg, ABN: 43611512693, Main Business Location: QLD 4300, Notice Date: May 1…

Read the full article at: https://www.qt.com.au/news/latest-business-liquidations-in-ipswich/4222319/

The man who led the turnaround at McGrath (ASX: MEA) will soon take the reins at another property company that has been battling for recovery – The Agency Group (ASX: AU1).

The fast-growing company has today announced property industry veteranGeoff Lucas will start as group CEO next week on 29 March, working alongside managing directorPaul Niardone who will continue in his role.

“We are pleased Geoff has agreed to join The Agency, given his immense experience and success in the real estate sector,” says The Agency chairmanAndrew Jensen.

“The appointment comes at a time when The Agency is looking to use the foundation of its strong balance sheet and industry leading operational performance to continue to drive growth across its business….

Read the full article at: https://www.businessnewsaustralia.com/articles/former-mcgrath-ceo-geoff-lucas-to-lead-the-agency.html

NO liquidation appointment notices have been listed for businesses in the Scenic Rim Local Government Area so far today. The total for the past year is 14.

News Corp analysis of ASIC Insolvency Notices and ABN Lookup data shows the locations of company liquidations across the state.

Queensland-based companies operating without an ABN were omitted from the list below, however can be found in our monthly statewide list.

Here’s the list for Scenic Rim, listed by postcode in date order:

4211

De La Seine Pty Ltd Trading As Rocky Ho’S Grille & Diner, ABN: 62608873016, Main Business Location: QLD 4211, Notice Date: March 3, 2020, Liquidator: Michael Dullaway, Mark Pearce

Vystal Pty Ltd, ABN: 65633254823, Main Business Location: QLD 4211, No…

Read the full article at: https://www.qt.com.au/news/latest-business-liquidations-in-scenic-rim/4222332/

The Pennsylvania Commonwealth Court has approved the liquidation of Bedivere Insurance Company, formerly One Beacon Insurance Company, recognizing that the companys financial liabilities have exceeded its assets.

Bedivere, a domestic stock property/casualty company based in Pennsylvania, has consented to the liquidation process, in which policyholder claims will be paid through the state guaranty association system, subject to statutory limits and conditions.

Pennsylvania Insurance Commissioner Jessica Altman said in a Pennsylvania Insurance Department (PID) press release that the company wrote policies in all 50 states plus the District of Columbia, Puerto Rico, the U.S. Virgin Islands, American Samoa and Gua…

Read the full article at: https://www.insurancejournal.com/news/east/2021/03/22/606408.htm

Transport for London (TfL) has accepted the Governments offer to extend its bailout by seven weeks, despite calling for a longer-term deal.

A 260 million (US$360.5 million) injection will be provided to cover the 31 March-18 May period, plus another 225 million dependent on fare revenue.

The transit operator received a 1.8 billion (US$2.3 billion) government bailout in November, which followed a 1.6 billion deal agreed in May 2020.

Mayor of London, Sadiq Khan, said: This seven-week extension will enable TfL to carry on running the safe, reliable and frequent services that will be vital as lockdown restrictions begin to ease.

These discussions will continue as it is essential t…

Read the full article at: https://cities-today.com/transport-for-london-receives-bailout-extension/

When you see the word gambling, what comes to mind? Gambling is the act of placing something of value (most often money) on an uncertain outcome with the hope of winning something of greater value. By this definition, many things are gambling that we may not have even realized. One increasingly widespread form of gambling is that of sports betting. Sports betting most often occurs when someone places a wager on the outcome of a game or match. This is most apparent during Super Bowl Sunday when bets are placed on everything from the winner of the game, to the outcome of the coin toss, to how long it takes the national anthem to be sung! If you watched any of the Super Bowl and its coverage, you likely h…

Read the full article at: https://www.norwichbulletin.com/story/news/local/2021/03/22/healthy-living-help-available-sports-gambling-problem/4799161001/

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