The court-appointed monitor for bankrupt QuadrigaCX said the Canadian cryptocurrency exchanges late founder took most of the money entrusted to him by clients and spent much…
Read the full article at: https://www.wsj.com/articles/quadriga-founder-spent-client-money-bankruptcy-monitor-says-11561070902
Chinese regulators are moving to relax restrictions on merger and acquisition deals involving listed companies in a bid to allow them to improve businesses through asset restructuring amid slowing economic growth.
The China Securities Regulatory Commission (CSRC) Thursday issued a draft revision of rules regarding listed companies asset restructuring to seek public comments until July 20. The revision scraps profitability requirements in merger and acquisition deals, ease fundraising curbs to support listed companies restructuring and encourage high-tech companies to restructure.
Analysts said the revision is aimed at rolling back stringent rules set in 2016 to contain market speculation through restructuring and back-door listings, whic…
Read the full article at: https://www.caixinglobal.com/2019-06-21/china-relaxes-asset-restructuring-rules-for-listed-firms-101429552.html
The NCLAT Thursday set aside orders of the NCLT Kolkata-bench, and directed it to hear the insolvency plea against Duncans Industries afresh filed by A J Agrochem, an operational creditor of the tea firm.
Allowing the petition of Agrochem, a two-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya has directed the National Company Law Tribunal (NCLT) to hear its plea and pass an appropriate order.
On October 5, 2018 the NCLT had rejected the insolvency plea on the ground that the provisions of the IBC are not applicable unless the Operational Creditor “seeks consent of the Central Government to start the Corporate Insolvency Resolution Process” in view of Section 16G(1) (c) of the …
Read the full article at: https://www.business-standard.com/article/pti-stories/nclat-directs-nclt-kolkata-to-hear-insolvency-plea-against-duncans-industries-119062001101_1.html
The mushroom sector has been under pressure for years. The latest victims of the competitive struggle are sales company Laseta Mushrooms and mushroom production company Champworld of Ad and Anja Peffer from Ammerzoden, the Netherlands. The court of Zutphen recently declared both companies bankrupt. Mr C.G. Klomp of Bierman Advocaten has been named the trustee in bankruptcy. No further developments can be reported yet.
In 2018, one of the branches that Laseta used for production and packing was closed in Horst, and those activities were absorbed by locations closer to Ammerzoden. This effort to become more efficient didnt manage to save the companies from bankruptcy. Laseta Mushrooms and Champworld didnt want to comment, although…
Read the full article at: https://www.freshplaza.com/article/9117458/laseta-mushrooms-and-production-company-champworld-bankrupt/
June 20th, 2019 
Splash 24/7 Dry Cargo, Europe, Maritime CEO, Tankers 0 comments
It has taken more than six years of restructuring but finally the Ravenna-based Gestioni Armatoriali is now free of debts and ready to take new investment opportunities, both in the dry and liquid markets.
Nicola Coccia, chairman of the company and former head of the Italian shipowners association, Confitarma, thinks that the traditional shipowning business model is over and a company like Gestioni has to operate on the market also as a third party shipmanagement firm. The problem now in Italy seems to be the lack of ship finance options for restructured shipping companies.
The company was set up in 1993 by Nicola Coccia and Bruno Castaldo together with the …
Read the full article at: https://splash247.com/gestioni-armatoriali-lack-of-finance-in-italy-for-restructured-companies/
Below is a list of the top and leading Bankruptcy Solicitors in Brisbane. To help you find the best Bankruptcy Lawyers located near you in Brisbane, we put together our own list based on this rating points list.
Brisbanes Best Bankruptcy Lawyers:
The top rated Bankruptcy Solicitors in Brisbane are:
- Leanne Hsieh Taylor David Lawyers
Are you one of them? Let us create a full business page,click here.
If you are a Bankruptcy Lawyer or you know other Bankruptcy Lawyers or law firms in Brisbane that should be on this list, please submit your details hereand we will review your submission.
Leanne Hsieh Taylor David Law…
Read the full article at: https://bestinau.com.au/best-bankruptcy-lawyers-in-brisbane/
Cancer fraudster Belle Gibson spent more than $90,000 in two years and went to Bali and Africa, but still claims she cannot pay her fine for conning Australians.
The disgraced wellness blogger was fined $410,000 for breaching consumer laws after claiming she cured her non-existent brain cancer through diet and alternative therapies.
A financial analysis of the 27-year-old showed she spent about $91,000 between 2017 and 2019, which she denied.
I dont believe your figure is correct, she told the Federal Court in Melbourne on Thursday.
But Carl Moller, for Consumer Affairs, said its analysis showed $13,000 in that period was splurged on clothes, cosmetics and accessories.
The con artist had also taken trips, including to Bali in 2017, because sh…
Read the full article at: https://thenewdaily.com.au/news/people/2019/06/20/belle-gibson-spending/
Wherever Belle Gibson goes scandal is known to follow and the latest twist in the disgraced cancer con-womans saga is no different.
Tonight, A Current Affair can lift the lid on her secret job working for a well-known Melbourne gentlemans club.
The explosive revelation comes as Ms Gibson returned to the Federal Court today to explain why she cant afford to pay a $410,000 fine after she fooled the world into thinking that she cured her terminal cancer by healthy eating.
In the witness box the 27-year-old said she was broke and living of Centrelink and child support payments. She once earned money through shopping errands for friends and via the outsourcing app Airtaske…
Read the full article at: https://www.9news.com.au/national/a-current-affair-belle-gibson-secret-strip-club-job-revealed/cd0fabb2-bea5-4d74-99a2-fe0cdac29372
If debt is impacting your finances, you may have a share of the $4 trillion in non-housing debt tallied in the first quarter of 2019 by the Federal Reserve Bank of New York. Of all household debt, $623 billion is late or overdue, the Fed found.
Consolidating with a personal loan is one way to tackle your debt. Known as a debt consolidation loan, it can simplify y…
Read the full article at: https://www.marketwatch.com/story/5-myths-about-debt-consolidation-2019-06-20
11:26 20/06/2019
MOSCOW, June 20 (RAPSI) The Commercial Court of St. Petersburg and Leningrad Region has dismissed a claim for vicarious liability filed by a former co-owner of Sovetsky bank against the banks ex-board chair Robert Musin and two other top managers of the financial organization, according to court records.
Vladimir Mitrushin has also asked the court to bring to liability officials of the Central Bank of Russia involved in appointment of Tatfondbank formerly chaired by Musin as a bridge bank for Sovetsky. However, he has proposed to determine the amount of the subsidiary liability for officials after completion of settlements with creditors as part of the Sovetsky insolvency case.
The court has therefore shelved the applic…
Read the full article at: http://rapsinews.com/judicial_news/20190620/300784692.html
Mumbai: Credit rating agency Icra estimates that haircuts for operational are not materially different than the haircuts taken by the financial creditors for cases under the Insolvency and Bankruptcy Code (IBC).
This analysis is based on the data for 92 corporate insolvency resolution plans (CIRPs) that have yielded a resolution plan up to 31 March, 2019 under IBC. Icra also found that of these 92 insolvency resolutions, operational creditors would realise about 42% of the total claims of 8,140 crore (haircut of 58%) and financial creditors would realise 44% of the total claims of 1.6 lakh crore.
In absolute terms though, the loss to the financial creditors has been significantly higher compared to the operational creditors,” the rati…
Read the full article at: https://www.livemint.com/companies/news/operational-creditors-at-par-with-lenders-on-haircuts-under-ibc-says-icra-1561001207971.html