Government officials are hopeful a saviour can be found for British Steel after speaking to 80 potential bidders, saying multiple parties have expressed an interest in taking on all or part of the business. The Insolvency Service has been seeking buyers since the company collapsed last week, a financial failure that threatens the future of…
A court in Rotterdam declared Rerum Technics (formerly Entropia Digital bv) bankrupt on 23 May, Connection. KPN filed for the bankruptcy, after a cooperation failed and KPN claimed that Rerum Technics had payment arrears. According to the ruling, the court agreed that Rerum Technics did not meet its payment obligations. The company said it will…
A liquidator has been put into WA Aboriginal resources contractor Indigenous Construction Resource Group. Set up in 2010 to create employment opportunities for regional Aboriginal communities, ICRG has undertaken work for companies including Fortescue Metals Group, Buru Energy and Roy Hill Holdings. At its peak in 2016, it had more than 150 workers on its…
Published 27 May 2019 A High Court test case which would have significantly clarified the law around debt-for-equity personal insolvency arrangements has been struck out on a technicality. The case was brought by Start Mortgages against a personal insolvency arrangement approved in Trim Circuit Court, which saw a mans mortgage written down from almost…
Attempts to find a buyer for British Steel could be abandoned by midsummer despite reassurances to trade unions that the government would prop up the business indefinitely, according to Whitehall sources. More than 4,000 jobs are hanging in the balance after the company entered into insolvency on Wednesday, three years after private equity group Greybull…
The State Bank of India has dragged energy firm Bhatia Coke and Energy Limited into insolvency process for non-payment of dues of about 125.9 crore to a consortium of banks. In September 2009, the company availed itself credit from State Bank of India and the erstwhile State Bank of Mysore. Further, it availed itself a…
In last years Federal Budget, the Coalition government announced it would expand the scheme, so it can be accessed by a far greater number of pensioners. To qualify, you or your partner have to be at least age pension age, own your own home outright or own an investment property outright, have adequate insurance covering…
To see the Scunthorpe steelworks in action is to witness British manufacturing prowess at its most visually stunning. Huge slabs of steel, glowing orange with heat, flow seamlessly through the plant, destined to become anything from paperclips to the steel ropes that support the Humber Bridge. Even from a safe distance, the searing 1,000-degree temperature…
The judge was not happy. A vulture fund that had bought bad mortgages from banks questioned the legality around how a couple went about seeking a remedy to their severe financial problems. The couple in question, musician-composer Frank McNamara and his wife Theresa Lowe, the TV presenter-turned-barrister, are among the best known people to have…
A High Court case that could have set a landmark ruling to keep distressed borrowers in their homes by ceding part-ownership to their lenders was settled this week. Mr Justice Denis McDonald heard on Monday that the case of a Co Meath widower had been resolved, removing a possible test case that could have created…