Bus operator enters voluntary insolvency deal – AOL.com
Bus operator enters voluntary insolvency deal AOL.com Read the original article here
Nottinghamshire bus operator enters voluntary insolvency deal
A bus operator providing services across Nottingham and Nottinghamshire has will continue trading after confirming it has entered a company voluntary arrangement (CVA). Community Transport for Nottingham (CT4N) announced last week it was looking to enter an insolvency process due to “challenging trading conditions”. The decision was unanimously approved by voting creditors, and means 75…
Sisters banned for enabling insolvency phoenix scheme
Sisters Karen Mortimer, 67, and Joanna Seawright, 54, became directors of 138 failing companies without verifying their financial positions, failing to investigate the location of more than £42m in assets, and leaving creditors £67m in debt. When the Insolvency Service launched an investigation, Mortimer and Seawright did not dispute their misconduct and agreed to be…
70% rise in construction firms in critical financial distress
The number of construction companies in “critical” financial distress has soared in the past 12 months, according to an insolvency specialist. Begbies Traynor said that the number of construction sector firms in its worst financial category rose to 7,361 in the third quarter (Q3) of 2025, compared with 4,324 at the same point in 2024…
Aban Offshore Enters Corporate Insolvency Resolution Process, IRP Appointed – scanx.trade
Aban Offshore Enters Corporate Insolvency Resolution Process, IRP Appointed scanx.trade Read the original article here
Sharp rise in ‘critical’ distress for construction firms
Latest figures from Begbies Traynor’s Red Flag Alert, which monitors the financial health of UK companies, show that the number of construction companies in ‘critical’ distress in the third quarter of 2025 reached 7,361. This is 70.2% higher than in the same period last year. The number of construction firms experiencing ‘significant’ distress – a…
Richa Industries Issues Letter of Intent for Company Sale Under Liquidation – scanx.trade
Richa Industries Issues Letter of Intent for Company Sale Under Liquidation scanx.trade Read the original article here
TGIF 31 October 2025 – COVID-19 safe harbour provisions: no shelter for the already insolvent – Corrs Chambers Westgarth
TGIF 31 October 2025 – COVID-19 safe harbour provisions: no shelter for the already insolvent Corrs Chambers Westgarth Read the original article here
Birmingham was never bankrupt, say finance experts
Bridie Adams,West Midlandsand Sarah Julian,in Birmingham LDRS The academics and experts argue that mistakes in financial forecasts were among reasons Birmingham City Council declared itself effectively bankrupt in 2023, when it did not need to There should be a public inquiry into how Birmingham City Council declared itself effectively bankrupt in 2023 – a decision…
Experts in public inquiry call over Birmingham council bankruptcy
However, the council said that when the section 114 notice was issued it faced an £87m budget shortfall and had not at that point secured government approval to cover equal pay liability through borrowing or asset sales. According to the council Carol Culley, executive director of finance, said that most chief finance officers would likely…