Effect of Winding Up upon Secured Creditors
Ordinarily, the instrument creating the debenture confers on the holder a right to appoint a receiver…
Validation Orders In the Context of Winding Up
In a winding-up by the court, any disposition of the company’s property, and any transfer of…
Annulment of Bankruptcy, one year after… The “famous” law with its subsequent ammendments in relation to Annulment Applications – By operation of Law – by Bankrupts, pursuant to the provisions of Section, 27 and 27a, 2 of 2(1) and 2(b) of 74(1) of 2008
Discharge is the procedure whereby the bankrupt obtains his/her release from the restrictions of bankruptcy and…
Wrongful trading is an action that can be taken only by a company’s liquidator, once it…
Shadow and de facto directors
Shareholders, including parent companies, who have the right to appoint one or more directors to the…
Piercing the corporate veil
When a court rules that the directors, shareholders or beneficial owners of a company should be…
Helios, the Failed Airline, will continue to haunt Cyprus as the battle for its liquidation is likely to last for several months.
On the 9th of April 2009, Louis Hotels Public Company Ltd, a creditor of Helios, filed…
What is Bankruptcy and what are its Repercussions
Bankruptcy is ones inability to discharge personal debts as and when these become due for payment….
In May 2009, 16 public companies filled for Bankrutcy in the US
Contrary to popular belief that Recovery is on its way in the world’s biggest Economy, USA,…
One million people insolvent in the UK
Around 700,000 people are currently left off the official British insolvency figures, even though they are…
Corporate Restructuring in the light of the world’s financial crises
In volatile economic conditions there are always going to be businesses that suffer from a downturn….