13 Firefighters Declared Bankrupt Taken Disciplinary Action – BERNAMA
13 Firefighters Declared Bankrupt Taken Disciplinary Action BERNAMA Read the original article here
Hassan Nawaz hit with 5.2m pounds tax penalty despite recent bankruptcy
Pakistan Hassan Nawaz hit with 5.2m pounds tax penalty despite recent bankruptcy … Read the original article here
Kuti Miah has denied owing £15,000 in latest court papers
Kuti Miah, the charismatic entrepreneur who ran Kuti’s Brasserie in the city for decades, is being pursued over an unpaid bill for refurbishing the Grade II listed restaurant building at The Royal Pier, which the business moved into in 2018. A recent county court case brought by painter and decorator Wayne Holbrook, of Design Dec, will…
UK includes Hasan Nawaz in ‘deliberate tax defaulters’ list – Pakistan
LONDON: Almost a year after he was declared bankrupt by a UK court, Hasan Nawaz, the son of former prime minister Nawaz Sharif, was included on a list of “deliberate tax defaulters” by the UK government. The list, which was published on Tuesday, features the names of scores of individuals and companies that the HM…
BCCI And Byju’s Co-Founder Challenge NCLT’s Insolvency Decision
The Board of Control for Cricket in India (BCCI) and Riju Ravindran, the co-founder of Byju’s, are embroiled in a legal battle over a National Company Law Tribunal (NCLT) order impacting the insolvency resolution of the popular edtech company. This dispute centers on a Rs 158-crore settlement deal that was reached between BCCI and Think…
After $70 mn in bank, e-commerce aggregator 10Club close to bankruptcy
The Bengaluru-based startup’s lack of success in orientating its business model towards stronger target markets and failure to pivot to an alternate strategy in time led to the current state of affairs, four people with direct knowledge of the matter told Mint, seeking anonymity. Over the past six months, payments to multiple vendors have been…
KTM Says Everything Will Be Fine, But Should We Believe It?
“KTM is saved!”, many outlets proclaimed a few short weeks ago when the Austrian insolvency courts stated that the company, its debtors, and its shareholders had come to an agreement on how to move forward after basically declaring bankruptcy last year. They were saved! Production is set to resume. And the company’s beleaguered CEO, the…
IBBI mandates enhanced disclosure of carry forward losses for resolution professional, ET LegalWorld
Highlights The Insolvency and Bankruptcy Board of India has mandated that the Information Memorandum must disclose the carry forward of losses as per the Income Tax Act, 1961, enhancing the transparency and comprehensiveness of the insolvency process. Insolvency Professionals are now required to conduct thorough financial and tax analyses to accurately capture the details of…
Global business insolvencies forecasted to rise this year
Latest analysis by Allianz Trade has predicted that global business insolvencies will keep rising over the next two years. Insolvencies rose by 10% in 2024, and are expected to grow by 6% in 2025 and 3% in 2026. This would result in five successive years of increasing insolvencies (2022 – 2026). The UK bucks both…
Hospitality Insolvencies In January Not As Bad As Feared
Today’s company insolvency statistics show accommodation and food services insolvencies fell 7% from 3,747 in the 12 months to January 2024 to 3,474 in the 12 months to January 2025. However, insolvencies in the sector increased 21% month-on-month, from 225 in December 2024 to 273 in January 2025, and were up 3% when compared to…