The corporate debtor may be sold as a going concern or its assets may be sold after liquidation The Calcutta High Court has held that in light of the bar under Section 33(5) of the Insolvency and Bankruptcy Code, 2016 (Code), all proceedings, including those that were ongoing at the time of the order, under…
Plymouth company with links to royal family collapses business-live.co.uk Read the original article here
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Latest annual data analysis by the Accountant in Bankruptcy has shown that there were 1,175 corporate insolvencies in the year 2024-2025. This was a slight increase of 0.6% from 2023-2024’s figure of 1,168, and an increase of 3.8% on 2022-2023’s figure of 1,132. Commenting on the data, Tim Cooper, President of insolvency and restructuring trade…
8. “Life changes at the drop of a dime. I went from a nice-paying job to going through my first job loss during a company restructure in COVID to being unable to find work and having to resort to serving at a restaurant and doing delivery apps. The restaurant went bankrupt.” “I got a temp…
Brighton’s GAK – a pillar of the UK music retail industry – has faced weeks of speculation after closing its store and shutting down its website in March. As rumours of the retailer’s fate swirled, industry spectators spotted a listing on UK business marketplace Business Sale Report, advertising a “Musical Instrument Retailer and Supplier” seeking…
A GERMAN club has been declared bankrupt, with all players released immediately. Fourth-tier side KFC Uerdingen will no longer be able to finish the 2024/25 season. 1 KFC Uerdingen will no longer be able to complete the remainder of the season after being declared bankrupcyCredit: Getty On Tuesday, an insolvency administrator ordered the immediate suspension…
Embattled retailer with ties to Montréal tech set to shutter stores on May 18. UCG Canada Holdings (UCG)—which does business under the name of clothing seller Frank And Oak—is set to close all of its stores and sell its brand, marking the end of an era for a former heavy-hitter in Montréal’s retail tech…
“We’re talking about workers who’ve spent years working for this company, and now they’re being denied income they’ve rightfully earned and are entitled to,” said Lana Payne, Unifor national president. HBC started its full liquidation in March. That came after the company went through Companies’ Creditors Arrangement Act (CCAA) proceedings following an initial order for…
A payroll director who was the boss of an umbrella company which failed to pay more than £2.5m in VAT has been banned as a director. Hubert Omukhulu failed to accurately declare the amount of VAT that Remedy Payroll Solutions Ltd had to pay in 2020 and 2021, leading to his disqualification as a company…