With all eyes in the contractor sector on IR35 reform, its easy to miss a pledge at Autumn Statement 2016 to develop HMRCs ability to spot emerging insolvency risks, writes Mike Smith, managing director of company turnaround specialists Jameson Smith & Co. The first thing to appreciate when trying to fathom why the Revenue wants…
Published Dec. 16 at 10:52 am The traffic passes by the National Bank of Ukraine (NBU) headquarters in Kyiv. Photo by Kostyantyn Chernichkin Popular on social media The National Bank of Ukraine (NBU) on Dec. 15 declared PJSC Investbank insolvent, since after assigning it to the category of problem the shareholders did not take sufficient…
Swiss Space Systems (S3), a space technology firm whose CEO was violently attacked earlier this year, has been declared bankrupt by a court in the canton of Vaud. S3, based in Payerne in northern Vaud, aims to make space more accessible by creating low-cost, reusable satellite launchers, a development not welcomed by all in the…
THE chief executive officer and executive director of interior design contractor Serrano Ltd has been declared bankrupt by the court. Catalist-listed Serrano said on Friday morning that the court had a bankruptcy order made against Chia Wing Keong after a hearing on Thursday. The proceedings were initiated by Bank of East Asia. Mr Chia has…
The European Commission launched its proposals for changes to insolvency law a few weeks ago, noting that Malta ranked last out of all the member states when it came to the efficiency of its procedures. The Finance Minister Edward Scicluna said the government had pre-empted the work of the Commission and decided to bolster the…
The number of bankruptcies in Ireland increased last year, according to the Insolvency Service of Ireland (ISI)s latest annual report. According to the report, there were 479 bankruptcies in 2015 up seven per cent from 448 in 2014. There was also a massive increase in the number of people who were returned to solvency thanks…
Former Billabong boss Matthew Perrin has accused his ex-wife of fabricating a confession and making him sign it when he was “contemplating suicide”. The former CEO is on trial in Brisbane District Court for fraud and forgery after he allegedly faked signatures on bank documents in 2008. Play Video Don’t Play Market calls: what was…
The number of bankruptcies in Ireland increased last year, according to the Insolvency Service of Ireland (ISI)s latest annual report. According to the report, there were 479 bankruptcies in 2015 up seven per cent from 448 in 2014. There was also a massive increase in the number of people who were returned to solvency thanks…
NDP administrators have told unsecured creditors they could expect as little as five cents in the dollar, under a deed of company arrangement (DOCA). NDP CREDITORS: NDP’s unsecured creditors include dairy farmers Alex Robertson, Donna Edge and Fiona Plant. In a letter to unsecured creditors, joint and several administrators Salvatore Algeri and Glen Kanvesky said…
A Manchester-based company that operated a business rates mitigation scheme for clients has finally been wound-up after it withdrew an appeal to close the business in the public interest. The High Court in Manchester ordered the winding up of PAG Management Services Ltd on 9 October 2015 after it was found to have operated a…