Maintaining a Business Account
In Serbia, maintaining at least one business bank account is not merely a practical necessity for businesses - it is a legal obligation.
The restructuring of Vietnam’s shipbuilding sector under Politburo Decision 220 represents both a strategic opportunity and a time-critical turning point. Given Vietnam’s geographic position, its maritime development ambitions, and its deepening integration into global supply chains, the sector holds substantial long-term potential. However, this potential can only be realized through decisive, coordinated, and timely reform.
A successful modernization strategy should be built on five key pillars:
Between those who portray insolvency as a social catastrophe that ends an individual’s life, and those who attempt to deny it as a mere "liquidity crunch," the truth is often lost in the noise. At its core, insolvency is neither a "crime" nor "the end of the road." Rather, it is a realistic financial state that requires smart legal management instead of escapism or exaggeration.
First: The Dialectic of Exaggeration and Denial
Society is often divided into two camps regarding insolvent individuals:
Introduction
Aerovias del Continente Americano SA Avianca & Ors v Versilia Solutions Ltd [2026] EWHC 282 (Ch) covers well trodden ground on the limits to the powers of a provisional liquidator and how, in certain circumstances, they can be overcome, in this case by seeking ratification of the sale of the company’s assets.
The Insolvency and Bankruptcy Code, 2016 (“IBC”) which came into force on December 1, 2016, marked a decisive shift in India’s approach to insolvency and its resolution.
In the UAE business environment, a company may go through a period of temporary distress before transitioning into a legal state that necessitates initiating bankruptcy or reorganization proceedings. The difference between taking early action and waiting until the crisis exacerbates is the difference between protecting assets and reputation, and losing control over the company's trajectory.
When a company is in financial distress, creditors must consider whether to place the company into a formal external administration process. If they do so, the publicity and disruption that accompany a formal appointment may worsen an already fragile situation. Conversely, if no action is taken, the company may continue to burn cash, leaving creditors with little or no prospect of recovery.