I. Introduction Leading cases show Quistclose trusts being used by companies nearing insolvency.Footnote 1 Their use in this context raises serious normative problems: allowing a lender or, in a Re Kayford trust, a purchaser, to make itself a beneficiary may prefer that lender or purchaser to the borrower’s other creditors. Use of funds subject to…
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Airport transfer business Resorthoppa went into administration this month owing £8.25 million, according to administrators. A statement of proposals by joint administrators James Saunders and Michael Lennon of KR8 Advisory confirmed the extent of the failure and warned funds are unlikely to be realised to pay preferential creditors or the full costs of administration, let…
Zorzi family owed millions from former building empire The West Australian Read the original article here
Enjo clean queen bins operating firm amid $1m rental stoush The West Australian Read the original article here
9 LIVES: Tender tycoon Cat Matlala faces liquidation as R360m police contract hits the skids News24 Read the original article here
Ghana performed creditably in areas such as labour, utility services and business insolvency in 2024, the latest World Bank Group Business Ready Report 2024 has revealed. The flagship report of the World Bank Group and the International Finance Corporation (IFC) said the country implemented good practices in its labour dispute resolution mechanisms, transparent information (connection,…
Photo: 123RF Proposed reform to the Companies Act is a step in the right direction to prevent companies from illegal phoenixing but more needs to be done, advocates and lawyers say. Employment law advocate May Moncur said several clients had yet to receive compensation following a ruling in their favour by the Employment Relations Authority…
Breadcrumb Trail Links News Canada More than 8.2 million Canadian customers hold about $58.5 million in unused points Author of the article: The Canadian Press Tara Deschamps Published Mar 26, 2025 • 4 minute read You can save this article by registering for free here. Or sign-in if you have an account. Shoppers on an…
TORONTO – Canada’s oldest company, Hudson’s Bay, may be on the verge of landing more time to save the six stores it has temporarily been able to rescue from liquidation. An Ontario court has spent the last two days hearing from lawyers about a proposed restructuring plan that could help the beleaguered department store find…