The High Court has overturned Personal Insolvency Arrangements (PIAs) that would have allowed a married couple write off a debt of approximately 250,000 owed to a bank. In a detailed judgement Mr Justice Mark Sanfey upheld EBS DACs objections to the Circuit Court approving PIAs in respect of Niall McKiernan, a garda sergeant, and his…
Wobbly firms are increasingly finding shelter in insolvency law. But is this just a case of delayed burial rites? Early adopters of the Insolvency Act 2015 such as construction firm Spencon Kenya Limited, which was placed under administration in 2017, do not look like they are coming back. Nakumatt Holdings, Midland Energy, ARM Cement and…
Exclusive: Exlusive: Former Atomic Kitten singer Kerry Katona has bagged a brand-new business deal as Creative Adviser of Thrillz and the mum-of-five has opened up on how she went from rock bottom to the top of her empire Video Loading Video Unavailable Click to playTap to play The video will auto-play soon8Cancel Play now Kerry…
By Michael Reid, managing partner, Meston Reid & Co THEREs been a great deal of talk in recent months around the various options open to any business looking to deal with creditor pressure now that trading activity is resuming always assuming that it can meantime source both product and staff. Ive taken the view that…
The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted a personal insolvency petition against Videocon promoter Venugopal Dhoot just a day after the Ministry of Corporate Affairs (MCA) received permission to freeze his assets. In a virtual hearing on Wednesday personal insolvency proceedings against Venugopal Dhoot were admitted and allowed. Asish Narayan…
Tobi Soniyi A Federal High Court in Lagos, has dismissed a bankruptcy petition filed against the former Managing Director of Staco Insurance PLC, Dr Sakiru Olanipekun Oyefeso. The court also awarded costs of N50,000, against the Insurance firm that wrote the petition against Oyefeso. In its statement of facts, Staco Insurance had alleged that while…
To prevent crops from going to waste, the Dutch bankrupt greenhouse company Eden Tech was allowed to continue operating for a few more months. Now the trustee investigates a relaunch. For several years, the Eden Tech team has been working on their technology to grow crops in the most efficient way possible, minimizing the use…
Hugh Fearnley-Whittingstalls television production company has collapsed, leaving behind millions of pounds of debts. The River Cottage chef co-founded the award-winning KEO Films in 1995, which has made popular programmes such as Hughs War on Waste and Easy Ways to Live Well. The company describes itself as having a strong ethical brand reputation and has…
Corporate insolvencies continue to rise year-on-year according to insolvency and restructuring trade body R3 in the South West. Although the figures show a slight fall between June and July 2021, it was the third consecutive month in which year-on-year corporate insolvency levels have risen. Related Articles R3 said the month-on-month fall in corporate insolvencies was…
Outlook August 28, 2021 19:59 IST ”Insolvency resolution plans should look to maximise biz value rather than just recover dues” outlookindia.com 1970-01-01T05:30:00+0530 New Delhi, Aug 28 (PTI) The focus of an insolvency resolution plan should be to maximise the value of the business concerned and not just to recover the dues or liquidate the company,…