Katie Price has been declared bankrupt for a second time over an unpaid tax bill worth more than £750,000. The former glamour model, who was previously declared bankrupt in 2019, owes £761,994.05 to HM Revenue & Customs (HMRC), a court was told on Monday. At a short hearing at London’s Rolls Building, Insolvency and Companies…
J&J unit files for second bankruptcy to pursue $8.9 billion talc settlement Reuters Read the original article here
Simon Edel, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon: “Today’s insolvency figures illustrates how the challenging trading conditions facing UK companies is translating into distress. Company insolvencies in Q2 and Q3 2023 reached their highest level since Q2 2009, whilst administrations saw a 58% year-on-year uplift. “Since the pandemic, insolvency activity had been heavily…
Katie Price has arrived at a court building in London ahead of the latest hearing in relation to her bankruptcies. The former glamour model is due to face questions from barristers over her finances in a specialist bankruptcy court. After arriving in a black cab, Price, wearing all black and sunglasses and accompanied by another…
When independent supermarket startup Supie went bust last month, the company’s 120 employees were told they wouldn’t be paid for their last two weeks of work, or receive any of their owed annual leave pay. The subsequent appointment of voluntary administrators again highlighted New Zealand’s limited protection for employees when their employer becomes insolvent. Supie’s…
Private-equity firms buy businesses in the hopes of flipping them for a profit a few years later. The idea is simple enough. But companies bought by private-equity firms are 10 times as likely to go bankrupt as those that aren’t. The industry’s defenders claim that this is simply because private-equity firms often buy teetering companies;…
New Delhi: The National Company Law Tribunal (NCLT) has directed initiating insolvency proceedings against Himalayan Mineral Waters, allowing Jammu & Kashmir Bank’s plea for default of a corporate guarantee given for LeeL Electricals. The Allahabad bench of NCLT has also appointed Bhoopesh Gupta as the interim resolution professional (IRP) for this Dehradun-based firm’s Corporate Insolvency…
A Kensington mansion has become the capital’s latest luxury property to go up for sale in insolvency proceedings as wealthy London homeowners face their assets being liquidated to pay down debts. The property on Queen’s Gate, near Hyde Park, is being sold by receivers for around $34m (£27m) alongside another house worth some $520,000 (£412,000)…
From funding the corporate insolvency resolution process (CIRP) of bankrupt companies to providing financial support to fight arbitration suits or even helping companies find sector expert lawyers for fighting costly disputes, a clutch of litigation funding startups are offering a range of services in the third-party funding market in India. Startups such as LegalPay, LitiCap,…
In 2020, Jonathan Arther sued a dozen state officials and employees of the Arizona prison where, he says, his medical care was bungled so badly that he went blind in one eye. He also sued Corizon Health Inc., the private, for-profit medical contractor that the state had hired to provide care in the prison where…