Environment Secretary Steve Reed signed off the appointment of FTI Consulting to act as an administrator in case Thames fails to secure funding from lenders, Sky News reported. Contingency plans could see Britain’s biggest water firm placed into a special administration regime (SAR), meaning it would be put into an insolvency process. A spokeswoman for…
Ministers have lined up insolvency practitioners to prepare for the potential collapse of Thames Water, Britain’s biggest water utility. Sky News can exclusively reveal that Steve Reed, the environment secretary, has signed off the appointment of FTI Consulting to advise on contingency plans for Thames Water to be placed into a Special Administration regime (SAR).…
The Federal Office of Public Health (FOPH) has withdrawn the health insurance company’s license. KEYSTONE Zug-based health insurer Klug is insolvent and will cease operations at the end of 2025 after more than a century. The reasons are financial problems and internal disagreements. No time? blue News summarizes for you After 107 years, Zug-based health…
Vilnius Regional Court has filed a bankruptcy case against the company “United Catering Forces”, which managed the capital’s in the old town “Wok to Walk” restaurant, which opened in 2011, reports “Verslo žinios”. Asian food restaurant It started operating on Vilnius Street in 2009 and operated under the franchise wing of the Amsterdam chain “Wok…
David Smith submitted false VAT returns on behalf of long-established Scottish machinery firm Balgownie Limited across a three-year period In total, more than £1.5 million was undeclared to HM Revenue and Customs (HMRC) between 2019 and 2022 Smith has been banned as a director for 11 years and the company was bought out of administration…
In a development with potentially significant implications for the construction and insolvency sectors, the Ontario Superior Court granted an initial order under the Companies’ Creditors Arrangement Act (“CCAA“) that included a rarely seen measure: a stay on calls against performance bonds. The decision in Re Earth Boring Co. Limited raises important questions about the limits…
UK ministers appoint insolvency advisers for Thames Water collapse ‘contingency plans’ UK ministers have lined up insolvency practitioners to prepare for the potential collapse of Thames Water, Britain’s biggest water company. Steve Reed, the environment secretary, has signed off the appointment of FTI Consulting to advise on contingency plans for Thames Water to be placed…
CAPELLE ON THE IJSSEL, Netherlands (CelebrityAccess) –Dutch concert promoter Bon Bon Entertainment has been declared bankrupt by a local judge, ending nearly 15 years in the live entertainment business. Founded in 2010, Bon Bon staged concerts by international artists such as Wizkid, King Promise, Tory Lanez, Tiwa Savage, and…
The IBBI has proposed making it mandatory for the committee of creditors (CoC) to formally record its deliberations on the eligibility of resolution applicants under Section 29A of the IBC Code aimed to enhance transparency in the corporate insolvency resolution process (CIRP). Section 29A of the Insolvency and Bankruptcy Code (IBC) lays down the ineligibility…
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