Belgian outlet chain Mega World is bankrupt: after the Court of Appeal decided on Monday morning that the retailer would not be protected against creditors, there was no other way out. 650 jobs will be lost. Over-indebted The shadowy story of outlet chain Mega World has come to an end, a story that began in…
Law360, London (December 22, 2020, 2:12 PM GMT) — The Pensions Regulator said workplace savings plans for failed high street giant Arcadia Group will soon be assessed by theU.K.’s lifeboat schemeto determine if they need support. The watchdog said Monday the Pension Protection Fund would begin the assessment as soon as it had carried out…
Monday, December 21, 2020 The United Kingdoms Corporate Insolvency and Governance Act 2020 (CIGA) shifted the focus of the United Kingdoms insolvency regime from administration and liquidation to rescue and recovery and introduced a number of interesting new features that apply to companies experiencing financial difficulties. This article considers how certain of these features fit…
By Reuters Staff 2 Min Read ROME (Reuters) – Italian police said on Monday a man who ran a cryptocurrency exchange that was declared bankrupt last year is suspected of being responsible for a series of hacks that caused losses of 120 million euros ($146 million). More than 230,000 people were defrauded by the cyber-theft…
By Reuters Staff 2 Min Read ROME, Dec 21 (Reuters) – Italian police said on Monday a man who ran a cryptocurrency exchange that was declared bankrupt last year is suspected of being responsible for a series of hacks that caused losses of 120 million euros ($146 million). More than 230,000 people were defrauded by…
The Nordic Resistance Movement marched with swastika flags in Helsinki on Independence Day 2018. Image: Martti Kainulainen / Lehtikuva The neo-Nazi organisation Pohjoinen perinne (or ‘Nordic Tradition’ in English), a registered association of the Nordic Resistance Movement (Finnish acronym PVL), has been declared bankrupt by Pirkanmaa District Court on Monday. A request for bankruptcy was…
LONDON The breakup of Arcadia has begun with administrators Deloitte selling off the first brand from the bankrupt clothing group, Evans. The plus-size brand, its ecommerce and wholesale businesses, have been sold for 23 million pounds to City Chic Collective Ltd., an omnichannel retailer that specializes in apparel, footwear, and lingerie in a wide range…
The continued suspension of new insolvency proceedings has hit not just recovery for lenders, but also affected small businesses who typically form the bulk of suppliers to many corporates. Operational creditors are those seeking to recover their dues with respect to goods or services they have provided, while financial creditors are the lenders. The government…
Under the law, a person declared bankrupt is disqualified from holding any key government office. Justice Duncan Gaswaga of the Commercial Court declared Ndawula bankrupt following a bankruptcy application filed by Hirra Traders, Uganda Limited on August 31, 2020. File Photo Under the law, a person declared bankrupt is disqualified from holding any key government…
Another patient, Jade Bruce, told The Sydney Morning Herald she was woken by Dr Blackstock midway though her surgery. I have tubes hanging out me, no clothes on, blood everywhere and there is my brother and neighbour on a large screen, she said. Ms Bruce said the doctor had rung them on a video call…