Member Article Over 8 in 10 respondents to a national survey of members of the insolvency and restructuring profession carried out by insolvency and restructuring trade body R3, expect personal insolvency numbers to increase within the next 12 months. Nearly half (44.5%) of the respondents to R3s member survey who work in personal insolvency say…
Steinhoff, the corrupt South African retail group who changed their name to Greenlit Brands in Australia and were responsible for the questionable sale of Harris Scarf, that saw consumer and appliance distributors owed millions is offering up A$1.4 Billion dollars to settle a multi-billion dollar accounting scandal. Greenlit Brands CEO Michael Ford, he was not…
The customers had established SMSFs with one financial advisory outfit and then ultimately were told in 2013 that it was becoming Arion Financial, the court heard. All of the witnesses who are making a complaint … dealt with somebody called Craig, Mr Copley said. A director of Arion would testify that person was Craig Gore,…
Proposed changes will provide clarity for consumers about when they will own goods they have pre-paid for, particularly if a retailer becomes insolvent guidelines will set out ways of identifying the consumer as legal owner, including if goods have been labelled or altered for the buyer such as an engraved ring the current rules on…
BusinessConsumer MORE than 80 per cent of respondents to a national survey of insolvency and restructuring professionals said they expect personal insolvency numbers to increase over the next year. Sunday, 26th July 2020, 12:03 pm Updated Sunday, 26th July 2020, 12:06 pm Eleanor Temple, the chair of R3 in Yorkshire and a barrister at Kings…
Robert Barnes | Getty Images A number of retailers were already teetering on the brink of collapsing prior to the coronavirus pandemic slamming the industry. The pressures have intensified immensely. A few big names in retail, including Pier 1 Imports and Modell’s Sporting Goods, filed for bankruptcy much earlier in the year, weighed down by…
Andorra-based European LED screen and lighting manufacturer Llum Creativa, trading as ARCH LED, has been declared insolvent. An administrator, Lourdes Alonso Martnez, has been appointed by the court in Andorra and creditors have 30 days to make contact. The company was founded in 2003 by Belgian entrepreneur Sebastian Clement, and initially served the entertainment and…
British High Commissioner to India Philip Barton says no time frame can be given for Mallyas extradition. IN LONDON Vijay Mallya has managed to stave off the attempt by Indian banks to declare him bankrupt. UKs chief insolvency and companies court Judge Briggs on Thursday refused permission to both Mallya as well as the consortium…
23 Jul 2020 Nearly two thirds of insolvency professionals who expect personal insolvencies to rise this yearbelievethe increase will kick inbetween October and December,a study has found. Lauren Tavener Recent History and Economics graduate and content writer for Credit Strategy. Lauren Tavener Recent History and Economics graduate and content writer for Credit Strategy. R3, the…
When the pandemic eventually recedes and you feel comfortable shopping in malls again, theres a good chance the retail landscape will look very different. For instance, there will be far fewer Ann Taylor, Lane Bryant, and Loft stores to shop from. Ascena Retail Group, the umbrella company that owns these brands along with Catherines, Justice,…