Checklist of steps to close a business and declare insolvency – Accountancy Age

It is a common misconception that closure means failure, but directors increasingly choose to dissolve in good condition, either because the industry has changed or they simply fancy something new. The first thing to understand about company closure is the distinction between solvency and insolvency. If the company is solvent, there is much more flexibility…

Lieutenant Governor: April 18 is Deadline to Recover Real Legacy Assurance Claims – St. John Source

Lieutenant Governor Tregenza Roach explained how residents can recover claims owed by Real Legacy Assurance Company. The Lieutenant Governors Office has been named a receiver of the defunct Real Legacy Assurance Company, which Lt. Gov. Tregenza Roach said Monday will ensure that outstanding claims filed by local policyholders can be paid. During a news conference…

Pensions Regulator drops probe into publisher Johnston Press – Financial Times

The Pensions Regulator has dropped its probe into whether Johnston Press used a controversial insolvency procedure to dump 300m in pension liabilities on the industry lifeboat fund. The UK regulator opened an investigation in November after Johnston, the publisher of the Scotsman and Yorkshire Post, used a pre-pack insolvency to keep the business afloat. Pre-packs…