- Victims of fraud often face an uphill battle in seeking restitution for their loss.
Executive Summary
Enrica Ghia is looked upon with enormous favour for her leading work on bankruptcy proceedings and related litigation.
Questions & Answers
On 1 June 2021, the Hong Kong Court of First Instance handed down another lengthy Judgment in the long-running dispute among certain members of the prominent Lo family.
Albert Togut ranks highly among peers thanks to his significant experience handling high-profile restructuring and bankruptcy proceedings.
Questions & Answers
"`Staggering' legal fees in Boy Scouts Bankruptcy Case." So read the title of an article in The New York Times on May 11, 2021. According to the reporter, a "lawyer negotiating a resolution to the multi-billion dollar bankruptcy filed by the Boy Scouts of America billed $267,435 in a single month. Another charged $1,725 for each hour of work. New lawyers fresh out of law school have been billing at an hourly rate of more than $600." The bankruptcy judge presiding over the case has called the fee totals "staggering," said the reporter.
On June 9, 2021, East Greenwich, R.I.-based jewelry company Alex and Ani, LLC filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware along with several affiliates. The lowest filed case number is 21-10917 (A and A Shareholding, Co., LLC). The company estimates $100 million to $500 million in both assets and liabilities.
Зміст
В діловому середовищі, як у потенційних боржників, так і кредиторів, склалося уявлення про інститут банкрутства як про інструмент уникнення відповідальності за боргами. Це пояснюється багаторічною вкрай низькою ефективністю відповідних процедур. Однак, призначенням конкурсного права є саме відновлення платоспроможності боржника або принаймні повне задоволення вимог його кредиторів. І процедура банкрутства передбачає спеціальні механізми для цього, навіть у разі недостатності майна боржника для погашення заборгованості.
Contents
The Australian government has taken swift action to enact new legislation that significantly changes the insolvency laws relevant to all business as a result of the ongoing developments related to COVID-1