BHS schemes ‘weakened’ by management prior to company insolvency – IPE.com

UK parliamentarians have criticised as wholly inadequate attempts by the former owner of retailer BHS to address the companys pension deficit and called for significant contributions to address the schemes underfunding. Philip Green was the focus of the parliamentary investigation into the retailers insolvency earlier this year, which followed Greens sale of BHS to Retail…

£34m in Berezovsky’s estate but it is still hopelessly insolvent, says judge – Evening Standard

The estate of the late Russian oligarch Boris Berezovsky is hopelessly insolvent, a High Court judge has said. Mr Justice Arnold says about £34 million remains in the estate but creditors claims run into hundreds of millions of pounds. The judge outlined financial facts in a ruling on the latest stage of litigation involving insolvency…

Enterprise Insurance Company to cease contracts following insolvency – Intelligent Insurer (subscription)

The Gibraltar Financial Services Commission (GFSC) has directed Enterprise Insurance Company, under section 105 of the Financial Services (Insurance Companies) Act, to cease writing any new insurance business or contracts after the company was declared insolvent. GFSC has also issued certain directions under Section 100 of the Financial Services (Insurance Companies) Act that prohibits Enterprise…

‘SYSTEMATIC PLUNDER’: The report on the collapse of UK retailer BHS is out and it is damning – Business Insider Australia

Retail billionaire Sir Philip Green has been savaged by MPs in a report into the collapse of department store BHS, which he owned from 2000 until March last year. The Work and Pensions Committee and the Business, Innovation, and Skills Select Committee have been holding a joint inquiry into the collapse of BHS, which fell…