Retail Therapy Denied: Court Dismisses Motion to Assign Hudson’s Bay Leases – Fasken
Retail Therapy Denied: Court Dismisses Motion to Assign Hudson’s Bay Leases Fasken Read the original article here
Defaults rise amid elevated insolvency risk warnings – Insurance Business
Defaults rise amid elevated insolvency risk warnings Insurance Business Read the original article here
B2B payment defaults rise amid elevated insolvency risk warnings – Insurance Business
B2B payment defaults rise amid elevated insolvency risk warnings Insurance Business Read the original article here
What the new Companies House identity verification framework means for insolvency professionals – Dentons
What the new Companies House identity verification framework means for insolvency professionals Dentons Read the original article here
New taskforce to tackle phoenix firms
A new dedicated taskforce is being created to target rogue directors setting up new firms from the ashes of their failed ones to avoid repaying debts. Under a raft of measures to tackle fraud announced in the Autumn Budget, chancellor Rachel Reeves said she will give the Insolvency Service an extra £25m over the next…
UK Insolvency Service taskforce “not a quick fix”: UHY Hacker Young
The additional funding will be directed towards creating a dedicated Abusive Phoenixism Taskforce within the Insolvency Service. Credit: andriano.cz/ Shutterstock.com. Accounting network UHY Hacker Young partner Peter Kubik has called the new Insolvency Service taskforce targeting rogue directors as “a welcome first step but it’s not a quick fix.” In the Autumn Budget 2025 presented…
Citizens Advice: Getting paid if your employer goes out of business
But employees in the UK do have rights and routes to recover the money they are owed. If a company becomes insolvent, an appointed insolvency practitioner takes control. They are responsible for managing the company’s remaining money and assets, and for paying creditors where possible. Employees are classed as “preferential creditors,” meaning they are near the top…
Finance company shut down after investigators uncover fraud concerns
Insolvency Service investigations into Basic Prime Limited discovered concerns that the company was involved in fraud The company, which claimed to be based in Croydon, had no genuine business presence, contact details not in operation, and a director who failed to provide information and documents that were requested Basic Prime Limited has been wound up…
German furniture company König + Neurath files for insolvency after 100 years
König + Neurath AG, a century-old German office furniture manufacturer based in Karben, Hesse, has filed for self-administration insolvency at Frankfurt/Main District Court, affecting its 830 employees. The company will continue operations under trustees, aiming to restructure © König + Neurath AG…
Austrian furniture manufacturer faces multi-million euro bankruptcy
A furniture retailer in Lustenau, Vorarlberg, has declared bankruptcy, leaving creditors with a payout of just 0.9 percent on nearly €1.9 million in recognised claims. The company, employing around ten staff, counted approximately 50 creditors, including the Austrian tax office and Health…