Category Archives: Bankruptcy

Michael Reid: Is personal liability the way to tighten insolvency issues? – Scottish Business News (press release)

Recently-published UK government proposals to tighten up insolvency laws and address the business practice of phoenixing have put a fresh spotlight on a notoriously tricky area of financial regulation. Under the plans, company directors who dissolve their business to circumvent obligations such as staff payments and pension commitments could face substantial fines. The legislative backdrop…

Viral publisher Unilad faces insolvency action by HMRC – The Guardian

The viral publisher Unilad, known for its commitment to student-friendly online banter, is facing insolvency proceedings following a demand from HM Revenue and Customs (HMRC) amid concerns over the future of the sites Facebook-centric business model. HMRC issued a winding-up petition against Unilads parent company in July, which is due to be heard at the…

Troubled Sheffield pub announces immediate closure – The Star

A troubled Sheffield city centre pub which ran into financial difficulties has announced its immediate closure. The Sentinel Brewhouse in Shoreham Street has shut its doors immediately and laid off seven staff  although the attached brewery will continue to trade while a buyer is sought. The Sentinel Brewhouse. Last year, it was revealed that the…

Fenella Fielding: actress known for roles in Carry On and Doctor comedy capers – The Sydney Morning Herald

Vocally she could range from the plumminess of a duchess to the raucous expletives of the charwomen she used to meet as a footloose single girl sharing a Mayfair flat with a West End prostitute. But in person, as the journalist Gyles Brandreth recorded in his diary, that husky, purring voice is for real. On…

Taking Stock Of The Financial Crisis: Ten Years Later – Forbes Middle East

This autumn will mark the tenth anniversary of the most spectacular bankruptcy of all times. On 15 September 2008, banking heavyweight Lehman Brothers knocked sideways by the bursting of the sub-prime mortgage bubble a year earlier, declared itself insolvent with 613 billion US dollars worth of debt. This whipped up a storm that raged through Wall…

RBI’s deadline for bankrupt companies: Supreme Court stays insolvency proceedings against defaulters – Economic Times

New Delhi: The Supreme Court halted insolvency proceedings against defaulters in the power, sugar, shipping and textile sectors, providing relief to borrowers hours before the deadline for referring them to insolvency court expired by staying a Reserve Bank of India (RBI) circular issued in February. Bankers said the decision will delay the process at least…

Soccer – Italy’s Serie B to stick with 19 teams after chaotic close season – SBS

Franco Frattini, president of the Italian Olympic Committee (CONI) tribunal, told reporters CONI had voted 3-2 not to allow any additions to the championship which started two weeks ago. Serie B usually has 22 teams but three of those who should have played this season were barred for financial reasons. Bari and Cesena, both former…

A perilous edge – The Indian Express

Written by Prem Shankar Jha | Published: September 12, 2018 12:42:42 am Are all the owners and managers of these companies, and their bank managers corrupt, as the government would have us believe? The idea is absurd. Indian industry is in meltdown. Seventy-eight of the largest companies in India are facing dissolution under the Bankruptcy…

Debenhams confirms store closures but denies insolvency plan – The Guardian

The Debenhams chairman has confirmed the ailing retailer will close stores but denied that the company is actively planning to do so through an insolvency process. Sir Ian Cheshires comments come after weekend reports that Debenhams was working with advisory firm KPMG on a company voluntary arrangement (CVA), a form of insolvency that enables a…

Debenhams chairman denies insolvency rumours – The Times

updated Deirdre Hipwell, Tom Knowles The department store chain said it expected to report pre-tax profits of £33 millionNICK ANSELL/PA The chairman of Debenhams has hit back at suggestions that the retail chain may be looking into an insolvency process, saying it is simply not true. Sir Ian Cheshire spoke out after the department store published…