The government appointed commissioners to help run the council in February. Changes were already being overseen by a government-appointed board following the collapse of council-owned Robin Hood Energy in 2020, but commissioners now have direct decision-making powers. Council leader David Mellen said councillors voted “with great reluctance”. “Nobody was pleased to vote in favour of…
MILAN — La Perla’s financial troubles have reached a tipping point. According to media reports, a Bologna, Italy, court declared the state of insolvency Thursday, with judge Michele Atzori naming a trifecta of court commissioners tasked with leading the Italian subsidiary La Perla Manufacturing Srl out of the quagmire. This marks the exit of the brand’s…
The Supreme Court on Wednesday stayed a recent judgment delivered by the National Company Law Appellate Tribunal (NCLAT) closing insolvency proceedings initiated against ed-tech firm Byju’s (Glas Trust Company LLC v. Byju Raveendran and ors). A Bench of Chief Justice of India (CJI) DY Chandrachud with Justices JB Pardiwala and Manoj Misra passed the…
25 Jun 2024 • 4 min read The latest insolvency statistics for May 2024 for company and individual insolvencies have been published on 18 June 2024 for England and Wales. This comes just before the announcement on 19 June 2024 by the Office for National Statistics, that UK inflation fell to the Bank of England’s…
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12…
Zulu Travel Services Ltd was wound up at the High Court of Justice in Manchester following an investigation into its trading practices, and the official receiver appointed as liquidator Company director Dr Darren Anderson had changed his name three times and was already banned from running a company for 15 years under his previous name Anderson…
Annual ASIC insolvency data reveals increase in companies failing The National Tribune Read the original article here
Fact Check: Has Trump declared bankruptcy four or six times? The Washington Post Read the original article here
At least 26 councils in some of Britain’s most deprived areas are at risk of effective bankruptcy within the next two years, according to a leading local government group, which says many authorities simply have “nothing left”. Britain’s local government network has been shaken by a string of financial collapses in the past two years,…
Birmingham city council, the largest local authority in the country, has in effect declared itself bankrupt after issuing a section 114 notice, signalling that it does not have the resources to balance its budget. The notice, preventing all but essential spending to protect core services, was issued on Tuesday with council leaders blaming a £760m…