Ofgem should use firms’ windfall profits to fund energy debt relief, say MPs – London Evening Standard
Ofgem should use firms’ windfall profits to fund energy debt relief, say MPs London Evening Standard Read the original article here
Redeemable Preference Shares Not Financial Debt
Introduction In a decision shaping the contours of India’s insolvency jurisprudence, the Supreme Court of India in EPC Constructions India Limited (Through Its Liquidator) v. Matix Fertilizers and Chemicals Limited[1] clarified that holders of Cumulative Redeemable Preference Shares (CRPS) cannot be treated as financial creditors under the Insolvency and Bankruptcy Code, 2016 (IBC). The Court…
Dr. Phil loses major ruling in bankruptcy case, TV network is ordered into liquidation
TV personality Dr. Phil‘s bankruptcy case is not going the way he wanted it to. Dr. Phil, whose full name is Phil McGraw, cannot keep the bankruptcy of his media startup Merit Street Media in Chapter 11, Judge Scott W. Everett of the U.S. Bankruptcy Court for the Northern District of Texas ruled on Tuesday,…
ISG-affected lighting subcontractor moves into liquidation
Seventynine Lighting, which went into administration a year ago shortly after being hit by the collapse of ISG, has now gone into liquidation. The Gloucestershire-based subcontractor owed more than £2m when it went under in October 2024. Mark Boughey and Rebecca Dacre of Forvis Mazars, who were appointed as the company’s administrators, have now been…
Preference shareholders aren’t financial creditors under IBC, can’t initiate insolvency: Supreme Court
A Bench of Justices JB Pardiwala and KV Viswanathan dismissed an appeal filed by EPC Constructions India Ltd (in liquidation) against Matix Fertilizers and Chemicals Ltd, affirming the findings of the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) that the preference shares held by EPC represented an investment and not…
Immersive Hertfordshire horror maze goes bust before Halloween
The event featured actors dressed in costumes, fairground rides, bars and food stands. Organisers said it was the first time the character Leatherface from the Texas Chainsaw Massacre franchise had been featured at a UK scare attraction. There was also a maze based on the 2023 horror film Winnie the Pooh: Blood and Honey. Earlier…
BMZ Germany insolvent under self-administration following major client loss – Bike Europe
BMZ Germany insolvent under self-administration following major client loss Bike Europe Read the original article here
Builder goes belly up after court battle with ATO – The Courier Mail
Builder goes belly up after court battle with ATO The Courier Mail Read the original article here
Fastway Parent company in Liquidation as Galway jobs at risk – Galway Beo
Fastway Parent company in Liquidation as Galway jobs at risk Galway Beo Read the original article here
Scotland’s Kenny’s Music becomes the latest musical instrument retailer to close its doors, “despite our strongest sales ever in recent years”
Scottish musical instrument retailer Kenny’s Music has ceased trading, the firm confirms in a new communication with its supplier partners, seen by Guitar.com. The company – which ran an online store, as well as brick-and-mortar stores in Glasgow, Aberdeen, Dunfermline and formerly Dundee – reveals its intention to move into Creditors’ Voluntary Liquidation (CVL), “despite…