Types and How It Works

What Is Bankruptcy? Bankruptcy is a way to get a fresh financial start (as an individual or business) if you can’t repay your debts. Typically, this requires filing a petition with a bankruptcy court. From there, a judge decides whether you must liquidate any of your assets or if the debt can be restructured to…

Moorland School parents redirected to insolvency company

Private school Moorland, in Clitheroe, informed parents and teachers on Wednesday it would be shutting its doors on Friday, March 28, citing financial strains. The shock announcement left parents frantically trying to contact former proprietor and headteacher Jonathan Harrison, but they were redirected to consultancy firm Begbies Traynor Group. However, the business said it has…

Don’t scrap sale of firm as going concern – Opinion News

By Surendra Raj Gang On February 4, the Insolvency and Bankruptcy Board of India (IBBI), issued a discussion paper on proposed amendments for solutions to operational challenges encountered in the Corporate Insolvency Resolution Process (CIRP) and the liquidation process under provisions of the Insolvency and Bankruptcy Code, 2016 (IBC). One of the proposed amendments is…