Both accounting and legal professionals must always consider possible conflicts of interest before accepting an assignment for a client. However, in insolvency administration, there appears to be a tendency for the financial advisers to ignore the Both accounting and legal professionals must always...
WASHINGTON--The insolvency of Guarantee Security Life was caused by outright fraud involving two of the nation's respected investment and accounting firms, according to the Florida insurance commissioner. Outlining an extraordinary scheme involving WASHINGTON--The insolvency of Guarantee Security Life was caused by outright fraud...
Dow Jones Newsletters (Jersey City, NJ) has launched "International Insolvency," a weekly e-mail newsletter that covers large insolvency and bankruptcy cases worldwide. Targeted to legal practitioners, finance and credit managers, and related industry professionals, an annual subscription costs $2340. Targeted to insolvency professionals...
Dow Jones Newsletters (Jersey City, NJ) has launched "International Insolvency," a weekly e-mail newsletter that covers large insolvency and bankruptcy cases worldwide. Targeted to insolvency professionals globally, the newsletter includes coverage of developments worldwide, major companies in distress, repayment and liquidation plans, and recent court actions. It also includes special...
This paper integrates notions of insolvency, trigger events, and consumer risk posture into the theory of single-family mortgage default. It presents a traditional consumer-or choice-theoretic framework that recognizes common elements of mortgage optionally alongside insolvency, income, house price, and interest rate variables. Two motivations for mortgage default, insolvency and exercise...
AUGSBURG, Germany AFP — Walter Bau, Germany's third-biggest construction company, is filing for insolvency after failing to agree with its creditors on future financing. "Despite major efforts on the part of the company and of the financiers, we have not been able to safeguard the liquidity of Walter Bau....
UNCITRAL's New Working Group on Insolvency Law In May 1997, the United Nations Commission on International Trade Law (UNCITRAL or the "Commission") completed and adopted its Model Law on Cross-border Insolvency. The Model Law was designed to deal with the complications of insolvency proceedings that affect more than one...
Wind-up costs are forcing companies into insolvency, according to pension lawyers. Lawyers have called on the government for a shake-up of legislation to stop companies collapsing under their pension deficit. Elmer Doonan, a partner at Denton Wilde Sapte, argued that stiff ...
KPMG'S SPINNING OFF OF ITS INSOLVENCY ARM MIGHT herald future changes in the Australian insolvency market. The Big Four member's move was in response to rigorous US independence laws - under the Sarbannes-Oxley Act - which might stop local auditors doing KPMG'S SPINNING OFF OF ITS INSOLVENCY ARM MIGHT herald...
Risk Managers Must Be Experts On Insolvency Too often, risk managers have taken a passive approach to detecting insolvency in the insurance industry. I recall, for example, hearing two buyers commiserate with each other over having to wait on lineRisk Managers Must...
The post Enron focus on corporate responsibility means new scrutiny on how corporate directors conduct themselves. This article look at how just the possibility of insolvency tends to change the rules of the game. In Enron’s wake, more directors that are corporate may be worrying about their roles. Figuring out...
VANCOUVER, British Columbia--BUSINESS WIRE--Nov. 3, 1995-- Modatech today announced its assignment pursuant to the Bankruptcy and Insolvency Act of Canada.Due to financial difficulties, the Company is no longer able to meet its obligations generally as they become due. The Company has made an assignment pursuant to the Bankruptcy and...
Much of the structuring of a securitization transaction is intended to minimize the effects on the transaction of the possible insolvency of the originator of the securitized assets. It is structuring that permits the securities issued to obtain a financial rating higher than the secured debt rating of the originator....
With the current state of the beef industry in this country, caused predominantly by the discovery of BSE in a Canadian cow in May, 2003, but being exacerbated by ongoing drought conditions in Western Canada, issues related to the bankruptcy and insolvency of the industry's participants are likely going to...
SOUTHBOROUGH, Mass.--BUSINESS WIRE--Dec. 10, 1998--Nexar Technologies Inc. Thursday announced that due to the company's inability to obtain new financing and concern among its creditors, Nexar anticipates that it will soon commence insolvency proceedings.
Canada's chartered banks welcome the opportunity to provide their input to the Standing Senate Committee on Banking, Trade and Commerce as it reviews the administration and operation of the Bankruptcy and Insolvency Act (the "BIA") and the Companies' Creditors Arrangements Act (the "CCAA"). The industry's comments generally respond to the...
During the past 18 months, the Insolvency Group of Equifax Canada has been surveying those members who regularly are unsecured trade creditors in Canadian insolvency filings. To date, the survey has brought at least three major issues to the attent During the past 18...
The Insolvency Service and IBM (NYSE: IBM) today announced a five-year contract worth approximately £20 million to transform the IT environment of the UK Government department that administers and investigates the affairs of bankrupts, companies and partnerships.
