This series looks at the enforcement options available to creditors to recover sums due by a debtor in Scotland. In the previous edition we looked at Inhibition which is similar to a Charging Order in England. A reminder can be read here. In this edition, we now turn to look at how Earnings Arrestment operates in Scotland.
On July 11, 2022, genomic sequencing company GenapSys Inc. of Redwood City, CA filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10621). The company reports $10 million to $50 million in both assets and liabilities.
On July 5, 2022, New York-based cryptocurrency exchange, Voyager Digital Holdings, Inc. along with its publicly traded Canadian affiliate, Voyager Digital Ltd., filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 22-10943). The company reports $1 to $10 billion in both assets and liabilities.
On July 5, 2022, Scandinavian airline SAS AB, along with several affiliates, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 22-10925), reporting $10 to $50 billion in assets and $1 to $10 billion in liabilities.
If you have fraudulently obtained Covid-19 financial support, such as a Bounce Back Loan, you must be pretty worried by recent headlines that show company directors being disqualified, fined and jailed.
On June 30, 2022, Palo Alto, California-based mobile technology retailer pairing company Enjoy Technology, Inc., along with two affiliates, who provide a revolutionary commerce-at-home experience for consumers through the companies’ network of mobile retail stores, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No.
On June 29, 2022, New York City-based Madison Square Boys & Girls Club, Inc. (the “Club”), a non-profit aimed to save and enhance the lives of underserved boys and girls through after school programming and youth development services, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 22-10910).
On June 30, 2022, Plano, Texas-based mortgage lender First Guaranty Mortgage Corp. (“FGMC”), filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10584). FGMC reports $500 million to $1 billion in both assets and liabilities.
There is a sense of "judgment fatigue" when it comes to decisions about the validity of an administrator's appointment or the extension of the administrator's time in office. However, the decision of Deputy ICC Judge Curl QC, in the case of Re E Realisations 2020 Limited, is worth paying attention to.
It was the poet John Lydgate who first said that you can please some of the people all of the time; you can please all of the people some of the time, but you can't please all of the people all of the time.