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INSOL Europe Turnaround Wing Guidelines now published

The 'INSOL Europe Turnaround Wing Guidelines for Restructuring and Turnaround Professionals' have now been published. The guidelines were developed in 2015 by INSOL Europe’s Turnaround Wing, through…

Annual Congress 2016 - Lisbon - Registration Now Open!

Annual Congress 2016 - Lisbon - Registration Now Open!

EECC Conference 2016 Registration Now Open

EECC Conference, Cluj-Napoca, Romania, 12 & 13 May 2016: Online Registration Now Open!

INSOL International Graduates

INSOL International is pleased to announce the sixth graduating class of the Global Insolvency Practice Course. The successful participants are now formally recognised as a Fellow, INSOL International.

News
Prime Minister Alexis Tsipras of Greece asked on Wednesday for a summit meeting of eurozone leaders that would allow him to make his case for easier terms on sorely needed aid to help his country avoid bankruptcy, the International New York Times reported. Without new rescue money by July, Greece could default on its debts and throw the 19-member eurozone into another period of chaos. There could also be a domestic upheaval in Greece similar to last summer, when the country had a referendum on the terms... A Canadian rating agency will decide on Friday whether to maintain or cut off life support to Portugal’s fragile economic recovery, the Financial Times reported. If DBRS downgrades Lisbon to below investment grade, as Fitch, Moody’s and Standard & Poor’s have already done, the country will automatically be excluded from the European Central Bank’s quantitative easing bond-buying programme, of which Portugal has been a leading beneficiary. “A positive rating decision by DBRS is crucial for the Lisbon... The number of Scottish registered companies becoming insolvent or entering receivership in the fourth quarter of 2015-16 (first quarter of the year) was 229, a drop of 9.8per cent on the previous quarter, though 16.2per cent higher than a year earlier. The annual total of 860 liquidations and receiverships was 1.3 per cent higher than for 2014-15. Tim Cooper, Scottish chair of insolvency trade body R3, said a downward trend was continuing. But for those businesses hardest hit by the oil price fall, a... REUTERS/Ian Langsdon/Pool ATHENS, Greece (AP) — Greek Prime Minister Alexis Tsipras is to request an emergency European summit on his country's troubled bailout program, after talks with creditors again failed to achieve a breakthrough. Greek officials say Tsipras will call European Union Council President Donald Tusk later Wednesday to proposal the meeting of leaders from European countries that use the euro currency. Athens' stock index is down nearly 4 percent after the new setback Tuesday in the... An electric car subsidy will be a flash in the pan, not the silver bullet against climate change that the German government is seeking. From a public policy standpoint, it’s also rather dubious, says DW’s Rolf Wenkel. Negotiations between Greece and its international creditors run into trouble over demands for extra austerity measures, raising fears of a potential default by Athens on debt due in July. Over 50% of the impact companies in the Romanian economy are in difficulty, Romania being in 2015 the first in Eastern Europe for the number of insolvencies for one thousand active companies, shows a study made by a specialised company for analysis and prognosis. Although the number of insolvency files dropped in the last three years, over 50% of the companies who get in insolvency reported a double loss and an increase of the level of indebtedness in 2015 against 2014. Romania is the last but one in... Hidroelectrica could get out of the insolvency procedure on May 11, when the last two appeals filed by Energy Holding and Alpiq Romenergie will be tried, Remus Borza, the representative of Euro Insol, the energy company’s trustee in bankruptcy, stated on Tuesday. “If the court hearing is not postponed, Hidroelectrica could become solvent right on May 11 when the last two appeals, those filed by Energy Holding and Alpiq Romenergie, will be tried,” Borza said, pointing out that Alpiq, another large energy... A number of serious regulatory shortcomings have been identified at Nemea Bank, which operates from Portomaso Tower in St Julians, the Malta Financial Services Authority said. This, it said, led it to take regulatory action to safeguard the interests of depositors and other creditors. The MFSA said it has today appointed PricewaterhouseCoopers Malta to take charge of the bank’s assets for the purpose of safeguarding the interests of depositors and its other clients; and to assume control of the bank’s... British lawmakers expect to question retail billionaire Philip Green in the course of an inquiry into failed department store chain BHS's pension liabilities after the firm was put into administration on Monday, Reuters reported. The Work and Pensions Committee launched the investigation on Tuesday. Asked if the chairman of the committee, opposition Labour lawmaker Frank Field, would invite Green to be questioned, Field's office said: "He's very sure he will be invited." Green sold BHS last year for one...
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