Four construction companies linked to single business owner collapse in single day leaving dozens of projects at an impasse

Four construction companies linked to one sole director have collapsed in a single day. Adroit Constructions, Maximus Builders, Maxim Builders and Maxus Builders went into liquidation on Tuesday. The companies are registered to a single address in Ryde, north-west of Sydney, with one sole director overseeing the companies, one of which was forced to cease…

UK’s 2nd largest city declares bankruptcy

The city centre of Birmingham. [Photo/VCG] Fears grow over fate of more councils after Birmingham files for insolvency Local governments in the United Kingdom went into panic mode on Wednesday after Birmingham City Council effectively declared itself bankrupt. Authorities warned that more councils across the UK could declare themselves in financial dire straits. Birmingham City…

Company insolvencies in England and Wales higher in past year than during financial crisis; gold hits record highs – as it happened | Business

More companies went bust in past year than during financial crisis More companies in England and Wales went bust in the last year than at the height of the financial crisis, the latest insolvency figures show. There were 25,551 insolvencies in the 12 months from August 2023 to July 2024, new data from the Insolvency…

Singapore High Court decides in landmark decision that legal and equitable set-offs are not permissible against a company in liquidation and clarifies application of the insolvency moratorium with respect to counterclaims: Allen & Gledhill

5 June 2024 Park Hotel CQ Pte Ltd (in liquidation) & Ors v Law Ching Hung and Park Hotel Management Pte Ltd (in liquidation) & Ors v Law Ching Hung & Ors [2024] SGHC 105 The General Division of the Singapore High Court (“High Court”) in…