Lynette Horsburgh BBC News, Lancashire Getty Images John Allen, who has since been declared bankrupt, was also ordered to pay £3,600 in compensation A plasterer fraudulently exaggerated his turnover by more than £200,000 to take up huge business loans during the coronavirus pandemic and blew the money on “gambling and fantasy football”. Jordan Allen “blatantly”…
The number of people falling into financial insolvency in England and Wales last year was 14 per cent higher than in 2023, driven by a record high in debt relief orders (DROs), the Insolvency Service said, writes David Connett. A total of 117,947 personal insolvencies were registered in 2024, up from 103,434 in 2023. The…
The National Company Law Tribunal (NCLT) has dismissed Bollywood actor Akshay Kumar’s petition to start insolvency proceedings against Cue Learn Pvt. Ltd, according to a news report. The bench, consisting of Judicial Member MS Shanmuga Sundaram and Technical Member Dr. Sanjeev Ranjan, ruled that Kumar’s claim was based on pending payments under a contract, which…
The National Company Law Tribunal (NCLT), New Delhi bench comprising Justice Manni Sankariah Shanmuga Sundaram (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member) has dismissed petition filed by Bollywood actor Akshay Kumar, seeking initiation of insolvency proceedings against Cue Learn Private Limited, an ed tech company. The Tribunal noted that the claim in question pertained…
Scottish business insolvencies saw a significant year-on-year decrease in December 2024, despite the overall annual figures remaining stable. The latest data reveals a complex picture of Scotland’s economic health as the country navigates through challenging times. In December 2024, there were 82 company insolvencies registered in Scotland, marking a substantial 24% decrease compared to the…
Allen claimed he was “optimistic” at the time that a business opportunity which failed to materialise would have seen his turnover increase to the level he submitted in his application. But the Insolvency Service said it was an actual – rather than projected – turnover that should have been declared. Allen, was also ordered to…
The National Company Law Tribunal’s (NCLT) Delhi bench has dismissed Bollywood actor Akshay Kumar’s plea to initiate insolvency proceedings against ed-tech company Cue Learn Pvt. Ltd. Kumar had filed a plea against the edtech under Section 9 of the Insolvency and Bankruptcy Code (IBC) over the non-payment of ₹4.83 crore as part of a 2021…
Business insolvencies rise 50% amid cost pressures, with projections reaching 16,000 this financial year. Business failures in Australia have surged by 50% this financial year due to high operating expenses, cost of living pressures, and increased tax office debt collection efforts. Expected insolvency appointments could reach 16,000, surpassing last year’s high of 11,053. The Australian…
Fall in company collapses last year but experts warn of ongoing ‘headwinds’ Evening Standard Read the original article here
The National Company Law Tribunal (NCLT) has ordered the liquidation of Go First Airways following a petition filed by its Committee of Creditors (CoC). The decision, made by a Bench led by Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan, marks the end of the budget airline’s operations. Go First had filed…