Colorado’s highest court has ruled that when a primary insurer goes broke, the excess carrier above it doesn’t have to pick up the tab. The Supreme Court of Colorado answered a certified question from federal court on September 21, ruling unanimously that “not covered” in umbrella/excess policies refers to coverage scope – not whether the…
Will OpenAI Go Bankrupt? Brownstone Research Read the original article here
Advertisement Advertisement Advertisement The Corporate Affairs Commission, CAC, and other stakeholders in business recovery and insolvency have called for a homegrown insolvency framework that reflects Nigeria’s economic realities and addresses emerging global business risks. They made the call on Thursday in Lagos at the 2026 Annual International Conference of the Business Recovery and Insolvency Practitioners…
The administrators were ordered to immediately return all company property taken pursuant to the appointment, including title deeds, leases, logbooks, records, keys, devices, passwords, the company seal, statutory registers, bank mandates, contractual documents, physical assets and money. Read the original article here
The High Court has granted businessman Paddy McKillen jnr a protection certificate that will protect him from his creditors for 70 days. Barrister Keith Farry, appearing for personal insolvency practitioner Eugene McDarby, successfully applied for the certificate for the businessman, co-founder of the Press Up hospitality group. Farry told Judge Michael Quinn that McKillen jnr,…
Data insight: UK Insolvency Service investigations bounce back Lexology Read the original article here
Vita Cellular Foams (UK) Ltd, based in Middleton, has instructed its solicitors, Spratt Endicott Limited, to present a winding-up petition against ZAS Furnishings Ltd to the High Court of Justice. The creditor claims it is owed money by the company and has asked the court to place the business into compulsory liquidation. If the petition…
BUSINESSMAN PADDY MCKILLEN junior has been declared insolvent and has been granted a protection certificate by the High Court under the Personal Insolvency legislation which will protect him from his creditors for 70 days. Barrister Keith Farry, who appeared for McKillen in a pre-lunch application to the High Court, outlined before Mr Justice Michael Quinn…
The trio, involved in Singapore’s largest Ponzi scheme, are unable to repay S$26.6 million in clawbacks [SINGAPORE] Three former employees of the Envy group of companies – at the heart of the S$1.5 billion nickel-trading Ponzi scheme that Ng Yu Zhi allegedly perpetrated – have been declared bankrupt after having been ordered by court to…
Paddy McKillen Jr tells court he has just €270 in his bank account as debts of €27.8m revealed Irish Independent Read the original article here