Category Archives: Bankruptcy

Innovation statement’s significant insolvency changes are well overdue – Manufacturers’ Monthly

Image: AAP/Mick Tsikas Those looking for the detail on insolvency changes announced in the Federal Governments long awaited innovation statement wont find it on the government website. But the Productivity Commissions report, Business set-up, Transfer and Closure, also released yesterday, acts as a companion piece to explain the Federal Governments intention to introduce significant changes to Australias…

Over 100000 businesses owed money by insolvent companies and individuals – Fresh Business Thinking

More than 100,000 businesses were owed money by companies and individuals that became insolvent during 2015, according to insolvency trade body R3. In total, around 113,000 businesses, the equivalent to 6% of all businesses in the UK were creditors in an insolvency procedure. Medium-sized businesses those employing 51-250 people were most likely to have been…

Court grants creditor respite – Irish Examiner

Businessman Kevin McConnon, joint owner with his wife, Yvonne, of McConnon Meats Ltd, was yesterday granted a 40-day extension to a High Court order protecting him from any action by creditors pending negotiation of a personal insolvency arrangement. Barrister Keith Farry, counsel for Mr McConnon told Mr Justice Robert Eagar that a 70-day protective certificate…

BRIEF-Macintosh Retail Group: Hoogenbosch Retail Group declared bankrupt – Reuters

Jan 6 Macintosh Retail Group NV : * Hoogenbosch Retail Group BV and subsidiaries declared bankrupt by the court in Limburg * Suspension of payment for Scapino has been granted Source text for Eikon: Further company coverage: (Gdynia Newsroom) Read the full article at: http://www.reuters.com/article/idUSFWN14P04520160106

Insolvencies hurting MSBs – economia

More than 100,000 businesses in the UK were owed money from insolvent companies and individuals in 2015 Approximately 6% of all UK businesses, or 113,000 in total, were creditors in an insolvency procedure in last year, according to research by insolvency trade body R3. Phillip Sykes, R3 president Growing businesses encounter two classic problems:…

Vural Öger- V.Ö. Travel Öger Türk Tur tour operator declares insolvency – Tornos News International Edition (press release)

V.Ö. Travel, the tour operator launched two years ago by veteran Turkey tourism entrepreneur Vural Öger, has declared insolvency and stopped trading. The loss-making company remained behind its targets this year and bookings for 2016 have also started badly, owner Vural Öger told fvw. In addition, Öger was impacted by 16 million worth of debts…

Insolvency lawsuit against Latvia’s KVV Liepajas Metalurgs steelmaker dismissed – GlobalPost

RIGA, Jan. 5 (Xinhua) — A court in the southwestern Latvian city of Liepaja on Tuesday threw out a request to declare KVV Liepajas Metalurgs steelmaker insolvent over an outstanding six-figure debt. The insolvency lawsuit had been filed by Elme Messer Metalurgs, an Estonian-owned producer of industrial gases which has been supplying oxygen to KVV…

McConnon Meats owner gets High Court order extension – Irish Times

Businessman Kevin McConnon, joint owner with his wife, Yvonne, of McConnon Meats has been granted a 40-day extension to a High Court order protecting him from any action by creditors pending negotiation of a Personal Insolvency Arrangement. Barrister Keith Farry, counsel for Mr McConnon, joint owner with his wife, Yvonne, of McConnon Meats, told Mr…

Medium-sized firms most at risk of insolvency exposure – CRN – UK

Medium-sized businesses were the most likely to be exposed to other firms’ insolvencies in 2015, according to new research from insolvency professionals trade body R3. The research, which was based on R3’s Business Distress Index which surveyed 500 UK businesses, found that 14 per cent of medium-sized firms (which employ 51 to 250 staff) were…

Deposit Guarantee Fund sells insolvent banks’ assets worth UAH 1.2 bln in 2015 – Interfax

2016-01-05T15:36+02:00 15:36 05.01.2016 The Individuals’ Deposit Guarantee Fund in 2015 sold the assets of insolvent banks for UAH 1.2 billion, according to the website of the fund. According to the report, in the last week of last year insolvent banks’ assets that were sold amounted to UAH 120 million. As reported, the Individuals’ Deposit Guarantee…