INSOLVENCY International

http://www.jonesday.com/newsknowledge/publicationdetail.aspx?publication=1a585b73-9ed1-4b59-a9ac-858ccf1452a5&RSS=true#page=1 Two recent cases test legality of consent payments and exit consents under English law September 2012 The ongoing global financial crisis has resulted in a number of debt restructuring transactions as a result of companies being unable to meet with their debt obligations. In distressed situations, issuers typically seek investor consent to amend existing… Continue Reading

http://www.srz.com/Second_Circuit_Affirms_Dismissal_of_Debtors_Attempted_Subordination_of_Former_Corporate_Parents_Claim/#page=1 Second Circuit affirms dismissal of debtor’s attempted subordination of former corporate parent’s claim September 21, 2012 The U.S. Court of Appeals for the Second Circuit recently dismissed a corporate debtor’s attempt to subordinate its former corporate parent’s contract damage claim on the ground that it was a securities fraud claim. CIT Group Inc. v.… Continue Reading

http://www.stateandlocaltax.com/noteworthy-cases/federal-court-schmears-taxpayers-bankruptcy-claim/#page=1 Federal court schmears taxpayer’s bankruptcy claim Posted by Sutherland SALT on September 21, 2012 The U.S. Court of Appeals for the Third Circuit took a bite out of a bagel store’s bankruptcy petition by holding that sales taxes are non-dischargeable “trust fund” taxes rather than excise taxes. In Re: Michael Calabrese, Jr., No. 11-3793… Continue Reading

http://www.madgwicks.com.au/news/69/Why_the_long_face_Did_the_liquidator_seize_your_horse#page=1 Why the long face? Did the liquidator seize your horse? 20 Sep 2012 An interesting story has come out of the Olympic showjumping, with the dual silver medal winning 10 year old Belgian stallion named London, being seized as part of ongoing bankruptcy proceedings, leaving his German rider Gerco Schroeder horseless. Mr Schroeder is… Continue Reading

http://www.bbc.co.uk/news/health-19713691# US doctors say trampolines are a danger to kids By Emily Selvadurai 25 September 2012 US doctors say children should be discouraged from using trampolines because they are a health hazard. The American Academy of Pediatrics (AAP) estimates that almost 98,000 people are injured each year in the US on trampolines and many of… Continue Reading

http://www.bbc.co.uk/news/business-19719553# Greece seeks bailout extension at 15bn-euro cost 25 September 2012 Greece has said it would need as much as 15bn euros (£12bn; $19bn) if it were given a two-year extension to its bailout. Finance Minister Yannis Stournaras told Reuters that the funding gap could be met without more aid from the eurozone. Greece is… Continue Reading

http://print21.com.au/bye-bye-boon-price-wins-paperlinx-leadership-struggle/51824 Bye-bye Boon – Price wins PaperlinX leadership struggle Wednesday, 19 September 2012 By Print21 <!––>PaperlinX chairman, Harry Boon, will leave the company on 28 September, along with his supporters, non-executive directors Lyndsey Cattermole and Anthony Clarke, in a boardroom coup that sees shareholder lobbyist, Andrew Price, win his battle against the company’s leadership. The… Continue Reading

http://print21.com.au/geon-moves-to-cut-labour-costs/51980 GEON to cut labour costs for a sustainable future Friday, 21 September 2012By Leon Spencer <!––>GEON is trying to slice its labour costs, with the company this week entering talks with employees with the aim of minimising its outgoing staffing expenses while retaining workers. In a statement, the print and communications company said it… Continue Reading

http://print21.com.au/kea-print-enters-liquidation-with-over-100000-debt/52000 Kea Print enters liquidation with over $100,000 debt Friday, 21 September 2012 By Leon Spencer <!––>New South Wales commercial printer, Kea Print, has gone into liquidation owing more than $100,000 to creditors. The Central Coast-based business, which was established over ten years ago, entered liquidation on 19 September under the supervision of Steven Gladman… Continue Reading

http://print21.com.au/australias-largest-snap-franchise-broken-up-and-sold/52047 Australia’s largest Snap franchise broken up and sold Friday, 21 September 2012By Leon Spencer <!––>Australia’s largest Snap multi-site franchise business has been broken up and re-franchised following a voluntary administration of the business, which was sparked by an insoluble partnership dispute. CBD Printing, the company behind what had been, until now, the country’s largest… Continue Reading