BTCMining Limited operated a cryptoasset mining business, but customers say they took payments for services they did not receive. Insolvency Service investigation was the result of complaints made to Action Fraud from people as far away as New Zealand. The company was subject to a winding up hearing at the High Court in Manchester on…
The interior design retailer Casa was declared bankrupt in the Netherlands on Tuesday. This follows the company’s bankruptcy in Belgium which was finalized at the beginning of march. Bankruptcy administrator Bart Louwerier has said that the 19 stores in the Netherlands will remain closed on Wednesday, according to De Telegraaf. The salaries of the 130…
AI company Anthropic recently added web search to its chatbot Claude. It joins other artificial intelligence tools like Perplexity and ChatGPT in delivering one clear answer to a web search query instead of pages and pages of links. We’ll dig into what that means for consumers and content publishers on today’s Marketplace “Tech Bytes: Week…
Casa’s Dutch shops remained closed on Wednesday morning: the retailer was declared bankrupt on Tuesday, a logical consequence of the earlier bankruptcy of its parent company in Belgium. ‘The staff are appalled’ A month ago, Casa Netherlands’ works council had already filed for bankruptcy because wages had not been paid and shops were no longer…
News30.04.2510.30 AM by Max Colbert The construction industry has the highest number of insolvencies across all recorded sectors in England and Wales, a trend which has continued across the past decade. Picture: Alamy Sharelines Construction sector in England and Wales most affected by company insolvencies #UKhousing The construction industry has the highest number of insolvencies across…
In a landmark judgment, the Bombay High Court in Nagpur has clarified that a company undergoing insolvency cannot shirk its statutory obligations towards employees. The Court directed Dalmia Cement (Bharat) to settle over Rs 25 crore in outstanding Employees’ Provident Fund (EPF) dues owed to workers of Murli Industries, a company it had acquired through…
Environmental group puts in symbolic £1 bid as UK licences auctioned off Greenpeace UK lawyers have written to the UK government to express serious concern about its lack of control over two deep sea mining exploration licences that it sponsors via UK Seabed Resources (UKSRL). UKSRL’s parent company, Loke Marine Minerals AS, recently declared bankruptcy…
1. Overview 1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions? German insolvency proceedings place a high priority on protecting creditors, but they are not completely creditor-friendly. Section 1 of the German Insolvency Code states that satisfying creditors is the primary goal of German insolvency proceedings, which would seem…
Several strategic buyers as well as investors are actively scouting for cement manufacturing companies which are currently undergoing the corporate insolvency resolution process under the Insolvency & Bankruptcy Code. One of the most sought-after assets in the sector is the cement business of debt-laden Jaiprakash Associates Ltd (JAL). The company has four plants in North…
Liam James Hennessey, 28, has been disqualified from being a director of a company for the next 11 years. Mr Hennessey, of Manchester Road, Haslingden, applied for Nero Plant Limited to receive a £50,000 Bounce Back Loan during the Covid-19 pandemic. Under the BBL scheme, businesses could apply for a loan of between £2,000 and…