It is a common misconception that closure means failure, but directors increasingly choose to dissolve in good condition, either because the industry has changed or they simply fancy something new. The first thing to understand about company closure is the distinction between solvency and insolvency. If the company is solvent, there is much more flexibility…
Lieutenant Governor Tregenza Roach explained how residents can recover claims owed by Real Legacy Assurance Company. The Lieutenant Governors Office has been named a receiver of the defunct Real Legacy Assurance Company, which Lt. Gov. Tregenza Roach said Monday will ensure that outstanding claims filed by local policyholders can be paid. During a news conference…
Published: 16:03 Tuesday 12 March 2019 Share this article Three men have been declared bankrupt for failing to pay 1.6m to the victims of the 1998 Real IRA Omagh bombing. The High Court ruling in Dublin is the first time in the world that anyone has been declared bankrupt for refusing to compensate victims of…
Aodhan O Faolain Michael McKevitt was among four men found liable for the attackPACEMAKER PRESS Three men found liable for the Omagh bombing have been declared bankrupt by the High Court after failing to pay damages to relatives of the victims. The car bomb on a street packed with shoppers killed 29 people, including nine…
Theodoric Meyer is a Politico reporter. On a February morning in 2005 in a hearing room in the Dirksen Senate Office Building, Joe Biden confronted Elizabeth Warren over a subject theyd been feuding over for years: the countrys bankruptcy laws. Biden, then a senator from Delaware, was one of the strongest backers of a bill…
One of Australias most heavily touted tech startups – custom footwear-maker Shoes of Prey – has filed for insolvency. Helpfully, co-founder Michael Fox has explained why in a Medium post. The TL;DR: even though it had a loyal fan base among well-heeled women who appreciated its shoe customisation service, the company was never profitable and…
Aodhan O Faolain Michael McKevitt was among four men found liable for the attackPACEMAKER PRESS Three men found liable for the Omagh bombing have been declared bankrupt by the High Court after failing to pay damages to relatives of the victims. The car bomb on a street packed with shoppers killed 29 people, including nine…
The Pensions Regulator has dropped its probe into whether Johnston Press used a controversial insolvency procedure to dump 300m in pension liabilities on the industry lifeboat fund. The UK regulator opened an investigation in November after Johnston, the publisher of the Scotsman and Yorkshire Post, used a pre-pack insolvency to keep the business afloat. Pre-packs…
THE depth of debt owed by the failed Sunshine Coast Pet Resort is yet to be confirmed as liquidators chase up a $169,000 loan from the business to directors Jack and Sam Brown. Ms Brown has indicated a total debt of more than $660,000 but liquidator Cameron Crichton has not put a final figure on…
The longtime abode of the flamboyant financier Jim Byrnes has hit the market in Bellevue Hill. It is the address where bullets were fired into the five bedroom family home in 2012 in a dramatic drive-by shooting. It last sold in 2004 when $4.5 million was paid by his wife, Gina. MORE: Nicole Kidman and…