The government agreed on Monday during a cabinet meeting to the reimplementation of the Corporate Restructuring Promotion Act that ended at the end of June this year.
The law allows companies facing bankruptcy to proceed with corporate restructuring when 75 percent of financial creditors agree, a more relaxed rule than the current voluntary agreement where…
Read the full article at: http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3054020
WORD ON THE STREET
Charity fun runs across the country have been cancelled without warning after the company behind it went into liquidation, leaving hundreds of women who purchased tickets fuming.
The Miss Muddy events, run by Events Move, is described as Australias most popular female muddy fun run with a range of fun obstacles designed to suit all levels of fitness.
In a Facebook post today, managing director of Events Move Enterprise, Allan Turner, apologised to those who had purchased tickets.
He admitted he had made mistakes.
Unfortunately the upcoming Miss Muddy events have been cancelled, and there are no funds available to enable refunds for the upcoming events, he wrote.
We sincerely apologise for this outcome.
Doz…
Read the full article at: https://www.3aw.com.au/first-on-3aw-fun-runners-furious-after-company-goes-into-liquidation/
HANNAH Quinn, the 23-year-old charged with her actor boyfriend over the alleged samurai sword murder of Aussie rapper Jett McKee has appeared in court with a new bleached blonde hairstyle.
Ms Quinn, who has been on bail since soon after Mr McKees August 10 death in an inner suburban Sydney street, appeared in court accompanied by her mother Megan, father Dean Hintz and brothers Dominic and Elliot.
She wore her long blonde hair out over a white embroidered shirt and a dark pants suit with high suede stiletto shoes.
Her co-accused Blake Davis, 28, who is on remand in Silverwater prison in western Sydney, did not appear in Central Local Court via video link from jail on Tuesday.
The pair are charged with the murder of Mr McKee, a 30-year-old hi…
Read the full article at: https://www.news.com.au/national/nsw-act/courts-law/sword-murder-accused-hannah-quinn-23-in-court/news-story/483434fff5d28078596059009965b865
Founder and CEO of LendStreet, Jerry Nemorin.LendStreet
Americans are sinking in debt. Over 70% of Americans die in debt with credit card and mortgage balances being at the top of the list. A number reasons and choices can cause anyone to fall into debt. Unexpected life moments like the death of a spouse, lost of a job or even a disability could cause things to financially fall apart.
Jerry Nemorin, founder and CEO of LendStreet, learned about financial distress at an early age as he watched his Haitian-born parents create a life here in the United States. His passion to help those who have had a financial setback led the former Wall Street banker to launch LendStreet, a financial technology company that offer…
Read the full article at: https://www.forbes.com/sites/joresablount/2018/10/09/this-company-could-be-a-solution-to-your-debt/
Home-grown electronics retailer Newstead Technologies, which owns brands such as nbox, Digital Style, and @notebook.com is currently in liquidation.
A listing onthe Accounting and Corporate Regulatory Authoritys (ACRA) Business Filing Portal indicated that the companys status wasin liquidation creditors voluntary winding up.
According to The Straits Times, this refers to the process in which a companys assets are collected and sold in order to pay its debts. Any monies remaining after all debts, expenses and costs have been paid off are distributed among the shareholders of the company. When the winding up has been completed, the company is formally dissol…
Read the full article at: https://www.humanresourcesonline.net/singaporean-electronics-retailer-newstead-technologies-undergoing-voluntary-liquidation/
LUXEMBOURG, Oct. 8, 2018 /PRNewswire/ –QGOG Constellation S.A. (“QGOG Constellation” or the “Company“) has been involved in discussions and negotiations with certain holders (and investment managers for certain holders) (each, a “Noteholder“) of the 9.00% Cash / 0.50% PIK Senior Secured Notes due 2024 (the “2024 Notes“) issued by the Company pursuant to that indenture dated as of July 27, 2017 by and among the Company, the subsidiary guarantors party thereto from time to time and Wilmington Trust, National Association, as trustee, paying agent, transfer agent and registrar (the “2024 Notes Indenture“).
Confidentiality Agreements with Members of the Ad Hoc Committee
On July 19, 2018, the Company executed confidentiality agreemen…
Read the full article at: https://markets.businessinsider.com/news/stocks/qgog-constellation-announces-update-on-restructuring-settlement-negotiations-1027598518
The Insolvency& Bankruptcy Board of India (IBBI) is framing rules that will enable creditors to chase guarantors of defaulting companies to recover dues, sources told The Times of India.
This move is expected to help lenders tighten their grip around companies and promoters. These guidelines will be ready within a few weeks andwill help banks recover their dues in cases where the entire claims were not settled during the resolution process, the report said.
IBBI Chairman MS Sahoo confirmed this development to the paper.
According to the report, the new guidelines suggest that the government is moving ahead with personal insolvency matters, including proprietorship and partnership firms.
A government official told the paper…
Read the full article at: https://www.moneycontrol.com/news/business/new-insolvency-guidelines-will-now-net-personal-guarantors-3022321.html
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New Delhi: The Insolvency & Bankruptcy Board of India (IBBI) is preparing guidelines to enable creditors to recover dues from guarantors of companies if the company fails to pay its dues. According to a report in the Times of India, the insolvency regulator is expected to come out with guidelines in next few weeks that will help banks and individuals recover dues from guarantors where they have failed to have the entire claims settled during the resolution process.
The move will tighten the grip around the companies as well as their promoters, who had given personal guarantees, the daily said.
The ToI rep…
Read the full article at: https://www.timesnownews.com/business-economy/industry/article/bad-loan-resolution-now-guarantors-may-too-face-insolvency-action/295852