More than 1,000 directors disqualified following Insolvency Service investigations. Of these, 736 were banned for Covid loan abuse. The report also highlights the average length of a ban was eight years. Latest figures from the Insolvency Service show the agency banned more than 1,000 directors in 2024-25, of which 736 were for Covid loan abuse.…
Although section 442A of the Corporations Act 2001 (Cth) (‘the Act’) gives administrators the power to remove a director from office or appoint a replacement to a company, section 437A of the Act sets out the role of an administrator and specifies that while a company is in administration, the administrator has control of…
Posted: 03/03/2025 The case of SBP 2 S.À.R.L v 2 Southbank Tenant Limited [2025] EWHC 16 (Ch) highlights the importance of careful drafting and robust legal advice when looking to forfeit a lease. Background 2 Southbank Tenant Limited is a WeWork company and the tenant in this claim. WeWork Companies LLC was a guarantor of…
IBC Weekly Round-Up [7th April-13th April 2025] Live Law Read the original article here
BUSINESSES are struggling to repay Bounce Back Loans (BBLs) five years after the pandemic, a Bournemouth-based insolvency practitioner has said. These loans, introduced by the Government in May 2020, were crucial for many during the Covid 19 crisis. However, for some, the repayment journey has been tough. Elaine Wilkins, director at Antony Batty and Company Licensed…
A month ago, on Friday, Feb. 21, Technicolor began to alert employees that it was in dire financial trouble and could (and did) begin to shut down that Monday. The stunning collapse of the iconic century-old company sent shockwaves through the industry, affecting its brands and thousands of employees around the world, as well as…
Vertical farming company Plenty has filed for bankruptcy, the company said in a press release on Monday. In its statement, Plenty said it has received a commitment for $20.7 million in debtor-in-possession financing as part of a proposed restructuring plan. It plans to continue to operate a strawberry farm in Virginia and a plant science…
DNA testing firm 23andMe files for bankruptcy as demand dries up Reuters Read the original article here
State Bank of India (SBI) has initiated insolvency proceedings against SU Toll Road Private Limited (SU Toll Road), a wholly-owned subsidiary of Anil Ambani-led Reliance Infrastructure Ltd. (R Infra), by filing a petition with the Mumbai bench of the National Company Law Tribunal (NCLT). The regulatory disclosure, made by Reliance Infrastructure on December 12, 2025,…
Sudesh recently appeared in actor Archana Puran Singh’s vlog where he shared his life’s story and struggles. He shared that before he became a successful comedian, he had worked really hard in his life and saw struggles. he now owns a big apartment in Mumbai which has all the luxurious amenities. Meet man who worked…