Fraud investigation into insolvency firm P&A Partnership is dropped – The Times

Government abandons inquiry into multimillion-pound fee scam James Hurley, Enterprise Editor Jeremy Priestley, P&As controlling partner, strenuously denies there was any wrongdoing at the company, which went bust two years agoSWNS The Department for Business, Energy and Industrial Strategy has dropped a criminal investigation into a firm of insolvency practitioners accused of a multimillion-pound fee fraud.…

Lok Sabha passes amendment in Bankruptcy code – Zee Business

The much-awaited Insolvency & Bankruptcy Code (Amendment) Bill which will tighten norms on willful defaulters,  was passed by Lok Sabha.  Amendment in IBC, excludes willful defaulters and existing promoters from bidding to purchase stressed asset of companies, which are under going insolvency proceedings.  Union Finance Minister Arun Jaitley during the discussion on IBC, said, “The government…

BA owner IAG to buy insolvent Austrian holiday airline Niki – Business Insider

Empty Niki check-in counters are seen at Vienna International Airport in Schwechat Thomson Reuters FRANKFURT (Reuters) – British Airways’ owner IAG said on Friday it would buy Niki, Air Berlin’s insolvent Austrian holiday airline, for 20 million euros ($24.01 million) and provide additional liquidity to the company of up to 16.5 million euros. The sale…