The city of Huntsville, as well as other north Alabama government entities, have fully recovered incentives used to lure Remington Arms to open a gun manufacturing facility in the Rocket City. Huntsville officials made the announcement Friday in a statement, saying that $12.5 million in incentives to Remington has been regained through the sale of…
Thursday, July 22, 2021 Even prior to the global impact of COVID-19, commercial bankruptcy filings were already on the rise. As stay-at-home orders caused many businesses to close or significantly curtail operations in 2020, financial struggles in the commercial sector mounted. Government assistance through the passage of different stimulus programs such as the Coronavirus Aid,…
Mr Greensill was recruited by a former colleague at Morgan Stanley, Jeremy Heywood, who by 2011 was back in government as cabinet secretary, the governments most senior mandarin. Lord Heywood died of cancer aged 57 in 2018. Mr Boardman said Lord Heywoods initial appointment of Mr Greensill for a three-month stint in early 2012 followed…
A Government-commissioned probe into the Greensill scandal has found that the lobbying system largely worked well, prompting accusations of a whitewash. The long-awaited 141-page report by Nigel Boardman was commissioned by Boris Johnson amid a lobbying controversy which had former prime minister David Cameron at its heart. The inquiry was launched in April after it…
GCUKs administration process is not due to end until at least March 7, 2022, and is likely to be extended. On the basis that the GCUK administrators do not indicate an earlier date of insolvency in relation to GCUK, we consider that the company became insolvent on or around 2 March 2021, which coincided with…
The number of corporate insolvency cases admitted in tribunals stayed low at 164 in the three months ended 30 June despite the governments decision to lift the one-year moratorium on creditor action against defaulters in March. This is expected to offer relief to the government, which decided to lift the suspension on 25 March amid…
Resolution Professionals (RPs) managing the operations of distressed companies undergoing corporate insolvency proceedings will now be required to assess and report whether the company has completed any transactions to siphon off funds prior to insolvency proceedings. Under the Insolvency and Bankruptcy Board of India (IBBI) (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016…
The Boardman Review has criticised the current lobbying transparency rules 3 min read2 hr A new report has criticised David Cameron over his role in the lobbying scandal and concluded Lex Greensill had “privileged” access to ministers. The review, commissioned by the Prime Minister, also found that businessman Lex Greensill had been given access to…
Thursday, 22 July 2021, 11:32 amPress Release: BWA Insolvency The economic effects of the COVID-19 pandemic have seen an increase in demand for insolvency services. We believe this demand will only increase over the next few years. While New Zealand hasnt seen the anticipated business failure that was predicted in early 2020, this is largely…
Two former bankrupt brothers convicted of appalling animal cruelty face having their aged care accreditation revoked over the failure of their aged care business in Victoria to return deposits to families of former residents. The Aged Care Quality and Safety Commission has ordered Chronos Care, which owns aged care homes in Alphington, 7km north-east of…