Tata Steel UK’s pension scheme deficit is set to balloon to 1-2 billion pounds ($1.25-$2.5 billion) and Britain’s largest steelmaker believes it could face insolvency unless a way can be found to tackle it, the scheme’s trustee has told members. Indian parent company Tata Steel has held talks to merge its European assets with Germany’s…
EBR Motorcycles To Liquidate Product Equipment and Parts Less than a year after an EBR Launch Party that featured the 2016 EBR 1190SX and 1190RX, and just months after the debut of the new Black Lightning (shown above), EBR will begin a wind down of production operations commencing next week, it announced. The East Troy,…
Unimpressed: Carpendeit dairy farmer Donna Edge is among local suppliers unimpressed with the offer by National Dairy Products to creditors. The owner of embattled milk broking company, National Dairy Products (NDP), Tony Esposito, has defended his business practices, saying he was only trying to support farmers. Mr Esposito said he wanted to keep NDP afloat and…
Former senator Rod Culleton’s appeal against his bankruptcy declaration is set to return to a Perth court on Friday for a full hearing before three judges. The former One Nation member-turned independent was declared an undischarged bankrupt on December 23 but denies he is insolvent and secured a one-week extension to a 21-day stay on…
Keith Flynn was the principal of Keith Flynn & Co, which had offices in Cork and Dublin. Another solicitor who worked for the firm, former Fine Gael local election candidate Lyndsey Clarke, also had her practising certificate suspended before Christmas. They were simultaneously suspended last month by the court’s president, Mr Justice Peter Kelly, pending…
The first insolvency case under the new bankruptcy code was filed last month, more than two years after the idea of the code was floated in the first budget of the National Democratic Alliance government led by Prime Minister Narendra Modi in 2014. The case under the new Insolvency and Bankruptcy Code, 2016, was filed…
The National Company Law Tribunal (NCLT) at Hyderabad has accepted the insolvency petition of Synergies Dooray Automotive Ltd, from which Ford used to source automobile components. This was the first such case filed at any of the NCLT benches under the new insolvency code. Also, one of the earliest cases accepted from the…
Former senator Rod Culleton’s appeal against his bankruptcy declaration is set to return to a Perth court on Friday for a full hearing before three judges. The former One Nation member-turned independent was declared an undischarged bankrupt on December 23 but denies he is insolvent and secured a one-week extension to a 21-day stay on…
Recent Bank of England figures have shown a strong growth in consumer credit, prompting charities to warn the figures should be ringing “alarm bells” The number of people whose financial situation deteriorated so badly that they became insolvent is expected to have increased year on year in 2016 in official figures released on Friday. Restructuring…
The number of people whose financial situation deteriorated so badly that they became insolvent is expected to have increased year on year in 2016 in official figures released on Friday. Restructuring firm RSM said it expected to see around 90,000 people having entered personal insolvency in England and Wales across 2016, which would be an…