The Court has the discretion to liquidate the company which is unable to pay its debts. This was held in a judgment delivered by Mr Justice Ian Spiteri Bailey presiding over the Civil Court (Commercial Section) on 29 January 2025. The case is ICE Net SA vs EFT Global Limited. In its sworn application the…
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A group of linked kitchen design and fitting companies based in Manchester have been shut down following an investigation by the Insolvency Service. Smart Choice Kitchens Limited, Empire Kitchens and Bathrooms Limited and Connect Kitchens Limited were all wound-up at a hearing of the High Court in Manchester on Tuesday (February 4). The Insolvency Service…
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Bensons rescued as creditors approve bailout deal The Australian Read the original article here
International law firm Addleshaw Goddard has recruited insolvency litigation specialist Sophia Harrison as a Partner in Restructuring, focusing on its insolvency dispute resolution (IDR) practice. Sophia is dual qualified in England & Wales as a barrister and in Scotland as a solicitor. She has a UK-wide practice focusing on corporate insolvency litigation, asset recovery and…
Construction Contracts and the Corporate Insolvency and Governance Act 2020 Herbert Smith Freehills Read the original article here
On August 31, 2022, Part V of the Cayman Islands Companies Act (the “Companies Act”) was amended to introduce the new role of a court-appointed “Restructuring Officer” and a dedicated “Restructuring Petition” (the “RO Regime”). The RO Regime was largely intended to replace the pre-existing restructuring framework by way of ‘light touch’ provisional liquidation (the…
In a significant relief for distressed homebuyers, resolution professionals can now hand over possession of plots, apartments, or buildings during the insolvency process, provided all obligations are met and the committee of creditors (CoC) approves. This will prevent prolonged delays in property handovers. This was part of several key amendments introduced by the Insolvency and…
Germany records highest company insolvencies since financial crisis Reuters.com Read the original article here