UK parliamentarians have criticised as wholly inadequate attempts by the former owner of retailer BHS to address the companys pension deficit and called for significant contributions to address the schemes underfunding. Philip Green was the focus of the parliamentary investigation into the retailers insolvency earlier this year, which followed Greens sale of BHS to Retail…
The High Court has adjudicated convicted fraudster Breifne O’Brien as being a bankrupt. In 2014 the former businessman was given a seven year prison sentence, which he is currently serving, for inducing others to advance millions of euro to him for investment in bogus property deals. O’Brien with an address at Monkstown Grove, Monkstown, Co…
By Press Association Published: 20:23 EST, 25 July 2016 | Updated: 20:23 EST, 25 July 2016 The estate of the late Russian oligarch Boris Berezovsky is “hopelessly insolvent” a High Court judge has said. Mr Justice Arnold says about £34 million remains in the estate but creditors’ claims run into hundreds of millions of pounds.…
The estate of the late Russian oligarch Boris Berezovsky is hopelessly insolvent, a High Court judge has said. Mr Justice Arnold says about £34 million remains in the estate but creditors claims run into hundreds of millions of pounds. The judge outlined financial facts in a ruling on the latest stage of litigation involving insolvency…
The Gibraltar Financial Services Commission (GFSC) has directed Enterprise Insurance Company, under section 105 of the Financial Services (Insurance Companies) Act, to cease writing any new insurance business or contracts after the company was declared insolvent. GFSC has also issued certain directions under Section 100 of the Financial Services (Insurance Companies) Act that prohibits Enterprise…
GRACE Mugabe turned 51 Saturday to gushing praises from officials and insolvent government owned companies while the State media published a 12-page supplement in her honour. The Herald supplement carried adverts from struggling parastatals, which had been asked to pay for advertising despite the country’s crippling economic crisis. For the second year…
Como have been declared bankrupt due to debt payments but are hoping to appeal the decision. After putting an end to a 12 year-wait for a return to Serie B, Como were unable to sustain their position in the 2nd tier of Italian Football and are now struggling with an even bigger issue than trying…
The future of 14,000 motor insurance policies in Ireland is in confusion after the Enterprise Insurance Company, which is regulated out of Gibraltar, was declared insolvent. Established in 2004, the insurer only started selling car policies here through a brokerage network less than three years ago. It emerged late yesterday that Gibraltar regulators who had…
The Central Bank has advised 14,000 Irish motorists caught up in the collapse yesterday of a Gibralta-based insurer, Enterprise Insurance Company, to seek alternative cover. Many of the people affected may not be immediately aware, as policies were written through brokers around the country viaWexford-based insurance underwriting agency, Wrightway Underwriting. While the Central Bank in…
Introduction Pre-bankruptcy composition agreement in business continuity Pre-bankruptcy composition agreements in liquidation Third-party initiatives Additional changes Introduction By a decree of January 28 2015 the minister of justice set up the Rordorf Commission, a ministerial commission to develop and submit draft legislation designed to reform, review and reorganise the rules governing insolvency procedures in Italy…