One of the UK’s last remaining steel companies has been pushed into compulsory liquidation. Speciality Steels UK (SSUK), part of the Liberty Steel empire owned by metals tycoon Sanjeev Gupta, employs nearly 1,500 people at sites in Rotherham and several other locations across South Yorkshire. Behind Tata Steel and British Steel, it is the third-largest…
On 21 August 2025, a winding-up order was made against Speciality Steel UK Limited, and the court appointed the Official Receiver, Gareth Jonathan Allen, as Liquidator. Following an application made by the Official Receiver, the court has also appointed Matthew James Cowlishaw, Hywel Phillips and Robert Fishman of Teneo Financial Advisory Limited as Special Managers…
Gupta and his companies have struggled ever since their major funder, Greensill Capital, collapsed into insolvency in 2021. Since then, many GFG assets have been faced with insolvency proceedings initiated by creditors seeking to be repaid what they are owed, including various Greensill entities. An Australian steelworks owned by Gupta was taken over by the…
(Reuters) -Teneo said on Thursday it has acquired the Australia business restructuring services unit of auditing firm PwC, as the management consultancy seeks to expand its financial advisory presence in the region. Under the deal, about 80 members of PwC’s Australia business restructuring services team will join Teneo and will provide wide range of financial…
Delays in the admission process continue to be a challenge in the insolvency cases in India, said Ravi Mital, chairperson of the Insolvency and Bankruptcy Board of India (IBBI) on Thursday. He stated that a new framework being planned is aimed at making resolution faster and more efficient without compromising the rights of stakeholders. “The…
Liquidation starts for company run by fatal Dunkeswell skydiving business director Totnes Times Read the original article here
Liquidation starts for company run by fatal Dunkeswell skydiving business director Wellington Weekly News Read the original article here
The Mumbai bench of the National Company Law Tribunal (NCLT) allowed the liquidation of Reliance Capital Ltd. with the provision of the Insolvency and bankruptcy Code(IBC), 2016 and appointed the liquidator. The Application has been filed under Section 33(2) of Insolvency and Bankruptcy Code, 2016 (“theCode”) read with applicable provisions of the Insolvency and Bankruptcy…
The National Company Law Tribunal (NCLT), Mumbai Bench has held that it is not the appropriate forum to adjudicate matters related to copyright violations related to ‘Kaithi’ movie and contract termination and rejected application preferred by Dream Warrior Pictures. The applicant, Dream Warrior Pictures file application under Section 9 of the Insolvency and Bankruptcy Code,…
Many North East firms at “crossroads”, insolvency expert says business-live.co.uk Read the original article here