International

http://www.lexology.com/library/detail.aspx?g=ca6e3fce-847e-47dc-95dc-883353295a4f&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+Federal+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2013-05-24&utm_term= Lehman reaching beyond the grave May 21 2013 Lehman is demanding millions of dollars from non-profits As widely reported, in the latest Lehman bankruptcy “fundraiser,” managers of the Lehman estate are now demanding millions of dollars from non-profit retirement homes, colleges and hospitals.  Lehman claims that it was somehow “shortchanged” by multiple non-profit organizations… Continue Reading

http://www.lexology.com/library/detail.aspx?g=cbffc2c1-d0e1-4695-8304-51b2cbf86978&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2013-05-24&utm_term= Court of Appeal takes different position on the “good faith” defence to voidable transactions May 21 2013 A recent decision of the Court of Appeal (Farrell v Fences & Kerbs Limited [2013] NZCA 91) will make it very difficult for creditors to successfully raise the good faith defence under section 296(3) of the Companies… Continue Reading

http://www.vision6.com.au/download/files/27634/1633019/Quantifying%20Benefit%20in%20Unreasonable%20Director%20Related%20Transaction.pdf#page=1 Quantifying Benefit in Unreasonable Director Related Transactions 24 MAY 2013 The decision of Fielding as Liquidator of Lyngray Developments Pty Ltd (In Liquidation) v Dushas & Anor [2013] QCA55, overturned a Judgment at first instance where it was held that various payments made by a company to a close associate of a director of… Continue Reading

TMA Australia event – Lessons Learnt in an Operational Turnaround 24 MAY 2013 Lessons learnt in an Operational Turnaround Anchorage Capital’s Burger King NZ Turnaround Anchorage Capital’s founding partners, Phil Cave and Daniel Wong will discuss their ‘back to basics’ tunaround blueprint for Burger King NZ. Tuesday evening, 18 June 13host & venue Minter Ellison,… Continue Reading

http://www.bloomberg.com/news/2013-05-23/imf-staff-suggests-tighter-debt-rules-to-improve-restructuring.html IMF Staff Suggests Tighter Debt Rules to Improve Restructuring By Sandrine Rastello – May 24, 2013 The International Monetary Fund may have been too optimistic in assessing the debt sustainability of some borrowing countries and could toughen loan conditions in an effort to make debt restructuring more successful, according to the fund’s staff. Sovereign… Continue Reading

http://online.wsj.com/article/BT-CO-20130523-705884.html Irish Central Bank Honohan: Insolvency Laws to Help Limit Home-Loan Debt May 23, 2013 By Eamon Quinn DUBLIN–Ireland’s new insolvency laws will help distressed home-loan borrowers, but also help Irish taxpayers regain some of the huge sums the country has pumped into its banks during the country’s deep financial crisis, Irish central bank head… Continue Reading

http://www.bloomberg.com/news/2013-05-23/slovenian-lawmakers-approve-insolvency-changes-to-aid-economy.html Slovenian Lawmakers Approve Insolvency Changes to Aid Economy By Boris Cerni – May 24, 2013 Slovenian lawmakers approved changes to the country’s insolvency legislation designed to accelerate corporate restructuring and aid the ailing banking industry. Lawmakers voted for changes the government said will lower the debt burden at companies and spur an economic recovery,… Continue Reading

http://www.irishtimes.com/business/sectors/transport-and-tourism/ireland-s-hotels-have-debts-of-6-7bn-1.1404604 Ireland’s hotels have debts of €6.7bn About 300 of 850 hotels are in financial difficulty but turnover is up at most hotels 24 MAY 2013 Ireland’s 850 hotels have aggregate debts of €6.7 billion and about 300 of them are in financial difficulty. These are the key points of a report on the health… Continue Reading

http://economictimes.indiatimes.com/news/economy/indicators/not-sure-if-indian-economy-has-bottomed-out-moodys/articleshow/20236061.cms Not sure if Indian economy has bottomed out: Moody’s By ET Bureau | 24 May, 2013 NEW DELHI: A research unit of the ratings agency Moody’s has said it was not sure if the Indian economy had bottomed out, and blamed the slowdown in investments on a ‘disturbing antibusiness tinge’ of the government.“The days… Continue Reading

http://www.canberratimes.com.au/business/subsidies-cant-save-local-cars-20130523-2k3ln.html Subsidies can’t save local cars Glenda Kwek | May 23, 2013 About $10 billion over seven years. That’s how much has been pumped into the car industry by federal and state governments. But has it been a case of throwing good money after bad, especially after Ford….”