London CNN — The UK government has moved to take control of the country’s second biggest city, Birmingham, after the local council effectively declared itself bankrupt earlier this month. In a letter to the council Tuesday, the government proposed appointing commissioners to take charge of the daily running of the local authority and to oversee…
UK town halls are slashing spending on everything from parks to adult social care and the arts in the face of an unprecedented funding crisis. Long-running financial pressures caused by central government cuts, rising demand for services and risky investment bets have been compounded by double-digit inflation, pushing many councils deep into debt. The crisis…
In this week’s TGIF, we examine the recent case of Re Eliana Construction and Developing Group Pty Ltd [2023] VSC 639 which considers guarantor subrogation rights in insolvency scenarios. Key takeaways This case provides a pertinent reminder that deeds and guarantor agreements may alter the rights of parties in a liquidation scenario. Creditors, particularly those…
Birmingham city council has voted to approve spending control measures, as well as endorsing a “financial recovery plan” that is already under way. The council debated the plan to tackle an estimated £760m equal pay liability before giving the go-ahead for the section 114 notice it issued earlier this month. The notice in effect declared…
Look, if you’ve been plotting an investment strategy using tips from Instagram influencers, you’re probably beyond our help. But we have to try – it’s our job – and the latest instalment in the sorry tale of Tyson Scholz, the online stock trading “educator” with a taste for Ferrari, Bugatti and Rolls-Royce cars, high-end champagne,…
Insolvency upswing – the surge in company dissolutions and the residual assets dilemma Dentons Read the original article here
Dutch arm of vertical farming startup Infarm declared bankrupt Sifted Read the original article here
The Body Shop‘s Belgian branch has been declared bankrupt. A German buyer is reportedly already in place to acquire the profitable remains. Done deal The bankruptcy was declared in the Netherlands, because the Belgian activities are part of the same entity as the Dutch shops. The receiver has not yet announced what the consequences are…
Methodological process Figure 1 shows our research framework. First, we collected datasets on the technological feasibility assessment used in the actual lending progress to SMEs. In the preprocessing step, we extracted technological feasibility assessment information of the manufacturing industry. We divided the datasets into three types, a general type, a technology development type, and a…
Nippon Electric Glass’ (NEG) site in Westerbroek, The Netherlands was declared bankrupt yesterday (Tuesday). It means around 275 employees are at risk of losing their jobs as well as 50 temporary workers. District Curator Jeroen Reiziger said its Japanese owner had decided it could no longer afford to keep absorbing losses of up to €1…