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.
G-20 Weighs Fixes to Debt-Relief Plan Faulted as Too Unwieldy  Bloomberg.com Read the original article here
Figures released by The Salvation Army show that 509 clients have used the service over the past five years. In
After months chasing down debts and sifting through Inland Homes’ records and accounts, insolvency specialists FRP Advisory recently confirmed Inland Homes is being moved out of
Egypt to unveil new debt management strategy in December: Finance minister - Economy - Business  Ahram Online Read the original article
Egypt to unveil new debt management strategy in December: Finance minister - Economy - Business  Ahram Online Read the original article
Since the beginning of August, the Ambitious Air Mobility Group (AAMG), based in the Netherlands and with connections to Spain,
REVEALED: Latest business liquidations in Hume  Herald Sun Read the original article here
File photo SABLAYAN, Occidental Mindoro – More than 4,000 agrarian reform beneficiaries (ARBs) across the Mimoropa region are set to
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Melbourne-based material science company Great Wrap has entered into voluntary administration with reported debts of $39 million, almost six years
P1.5-M debt relief empowers 38 Aurora farmers toward sustainable livelihood  Philippine Information Agency Read the original article here
The Orissa High Court has recently held that directors of a company cannot be absolved of their liability for the

G-20 Weighs Fixes to Debt-Relief Plan Faulted as Too Unwieldy  Bloomberg.com

Read the original article here

Figures released by The Salvation Army show that 509 clients have used the service over the past five years. In its first year, 103 people sought help, with numbers increasing annually. Last year, 160 people accessed support as more households struggled with debt linked to the rising cost of living.

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After months chasing down debts and sifting through Inland Homes’ records and accounts, insolvency specialists FRP Advisory recently confirmed Inland Homes is being moved out of administration and into Creditors’ Voluntary Liquidation (CVL).  

FRP Advisory also said Inland Homes is still owed £113 million from an “intercompany debtor” and, while the sum remains outstanding, they expect to recoup an amount “higher than previously anticipated”, meaning there will likely be a distribution of profits to shareholders.    

Due to the estimated realisations being higher than previously anticipated, it is now likely that there will be a distribution to unsecured creditors,” an…

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Egypt to unveil new debt management strategy in December: Finance minister – Economy – Business  Ahram Online

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Egypt to unveil new debt management strategy in December: Finance minister – Economy – Business  Ahram Online

Read the original article here

Since the beginning of August, the Ambitious Air Mobility Group (AAMG), based in the Netherlands and with connections to Spain, Dubai and Japan, has been publicly promoting its desire to take over and revive the Bavarian company Lilium. However, this attempt has now apparently failed: with the sale of Lilium’s intellectual property in the form of over 300 patents to US competitor Archer, AAMG now has no chance of acquiring what are arguably Lilium’s most valuable assets.

The Lilium patent portfolio includes innovations in the areas of high-voltage systems, battery management systems, aircraft design, flight control systems, electric propulsion systems, propeller technology and shrouded propeller technology for eVTOL aircraft….

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REVEALED: Latest business liquidations in Hume  Herald Sun

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File photo

SABLAYAN, Occidental Mindoro – More than 4,000 agrarian reform beneficiaries (ARBs) across the Mimoropa region are set to receive land titles and debt condonation certificates from the Department of Agrarian Reform (DAR) on Friday.

The awarding of e-titles, certificates of land ownership award (CLOAs), and certificates of condonation with release of mortgage (CoCRoMs) is in line with President Ferdinand R. Marcos Jr.’s directive to uplift farmers through land ownership and financial freedom.

The distribution will be held at the…

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To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below.

Facebook App: Open links in External Browser

There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.

This can be done through the following steps:

1. Open the settings menu by clicking the hamburger menu in the top right

2. Choose “App Settings” from the menu

3. Turn on the option “Links Open Externally” (This will use…

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Melbourne-based material science company Great Wrap has entered into voluntary administration with reported debts of $39 million, almost six years after the founders officially launched their direct-to-consumer brand in 2020, which resulted in 30,000 orders in the first month.

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Article ID: 243047

Great Wrap co-founder and CEO Jordy Kay announced on LinkedIn on Thursday afternoon that, given the circumstances, the Australian startup’s story had come to a conclusion and thanked those who had supported the company’s journey.

According to ASIC’s published notices, administrators were appointed almost a month ago on September…

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P1.5-M debt relief empowers 38 Aurora farmers toward sustainable livelihood  Philippine Information Agency

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The Orissa High Court has recently held that directors of a company cannot be absolved of their liability for the offence of cheque dishonour under Section 138 of the Negotiable Instruments Act, 1881 (‘the NI Act’) merely because the company was declared insolvent and a Resolution Professional was appointed under the Insolvency and Bankruptcy Code, 2016 (‘the IBC’).

While determining the extent of liability of directors of an insolvent company, the Bench of Justice Chittaranjan Dash held –

“In view of the above position of law, there remains no ambiguity with respect to the principle propounded by the Hon’ble Supreme Court, namely, that the matter lying before the Resolution Professional pursuant to the order dated 08.11.2024 of the…

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