A bankrupt builder from Devon persuaded pensioners to pay him 271,000 to construct a home – but his poor workmanship has led to the couple having to live in a caravan. James Prentice was sentenced to six months in prison, suspended for two years, was ordered to carry out 150 hours of unpaid work and…
The High Court has approved Personal Insolvency Arrangements that will allow former newspaper owner John Sheils, and his wife businesswoman Susan Casey, continue to make mortgage payments on their Co Kilkenny home until they are in their mid-eighties. The approval, made by Mr Justice Mark Sanfey, will see the couple retain their family home, Annamult…
Advertisement Monday, July 5, 2021 Last year, the Corporate Insolvency and Governance Act 2020 made a number of changes to the UK insolvency landscape. Amongst the changes, was the addition of the ipso facto regime, which prevents suppliers terminating supply contracts as a result of insolvency-related events. Up until 30 June 2021, small suppliers were…
A builder who broke his bankruptcy order by taking thousands of pounds in deposits before carrying out substandard work has received a suspended jail sentence. Exeter Crown Court heard that James Prentice, 41, of Kingsbridge, Devon, was declared bankrupt in 2014 but was allowed to continue working through his company JSP Woodworx, provided he did…
Personal Insolvency arrangements have been approved by the High Court that will allow former newspaper owner John Sheils and his wife businesswoman Susan Casey continue to make mortgage payments on their Co Kilkenny home until they are in their mid-eighties. The approval, made by Mr Justice Mark Sanfey, will see the couple retain their family…
Exeter Crown Court sentenced James Prentice, 41, from Kingsbridge in South Devon, to six months imprisonment suspended for two years, and 150 hours of unpaid work. He was also ordered to pay compensation of 4,500 to his victims after the prosecrtuin brought by the Insolvency Service. The court heard that Prentice was declared bankrupt in…
Diageo has challenged an order of Indias Prevention of Money Laundering Act court, which permitted the sale of assets seized from Vijay Mallya to repay a consortium of banks some of the 1.15 billion they claim he owes to them. (Photo: Wiki) Last month the Indian courts allowed the sale of shares Mallya held in…
A group of anonymous Maltese investors, who last week reportedly forked out 500,000 to save the Sicilian football club Calcio Catania from bankruptcy, are currently discussing the possibility of buying into the same club despite the embattled Serie C teams reported 65 million debt. While the Calcio Catania administration has failed to disclose the identity…
James Prentice, 41, from South Devon, was sentenced to 6 months imprisonment suspended for 2 years, ordered to carry out 150 hours of unpaid work and ordered to pay compensation of 4,500 to his victims. Exeter Crown Court heard Prentice was declared bankrupt in December 2014 and although he could continue working as a builder…
The recent Supreme Court ruling, confirming the amendment to Insolvency Bankruptcy Code allowing creditors to proceed against personal guarantors of defaulting companies to recover debt has not only opened up a new dimension in the corporate insolvency resolution, but also caused a furor among the promoter families. In Lalit Kumar Jain vs Union of India,…