Stats released today by The Insolvency Service unveiled a 6% increase in company insolvencies in the year ending January 2025 compared to the month before, and 11% more than in January 2024, as the dust beings to settle following a disruptive Autumn Budget for British business. According to Giuseppe Parla, Business Recovery Director at Menzies, December stats bucked…
A Chinese government linked property company with unpaid claims from Queenstown contractors has gone into liquidation, leaving the future of over 100 Fernhill residential units in doubt. Triple Connection Ltd was put into liquidation on February 13 after landscaping company Top Garden failed to get a response to a statutory demand linked to an unpaid…
Haydale places “loss-making” US arm into corporate insolvency process Insider Media Read the original article here
Feb. 17, 2025 A bankruptcy judge last week approved Joann Inc.’s plan to begin closing 500 of its 800 stores, including one in Brookings. The 500 stores were deemed as “underperforming” by the crafts and fabric retailer and its advisers, according to court filings. The goal of the Ohio-based company, which filed for Chapter 11…
Joann, a major retailer of fabrics and crafts, said in a bankruptcy filing on Wednesday that it intends to close 500 locations and begin going-out-of-business sales. The retailer currently has 800 locations. When it initially filed for bankruptcy in 2024, it said it did not intend to close any locations. The company said at the…
NCLT Approves JSW Energy’s Rs 160 Bn Bid for KSK Mahanadi Power Construction World Read the original article here
This sounds tempting, especially if you sell them at a knockdown price to the other company. But this action may be a breach of s238 of the Insolvency Act 1986 – Transactions at Undervalue. It sometimes happens that directors overlook or even fail to disclose all the company’s property to a liquidator. Consequently, the Insolvency…
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By Alex Davidson ( February 17, 2025, 2:13 PM GMT) — Payment services company Nvayo has entered into special administration, six months after it was banned from electronic money services because of serious concerns about its compliance with anti-money laundering regulations, the Financial Conduct Authority has said…. Law360 is on it, so you are, too.…
The boss of a collapsed building company may have transferred $2.5 million to its boss as a “director’s loan” in the months before the business went bust, according to the liquidator left to wade through the mess. That figure is more than the total money owed to creditors. Victorian construction firm Area Projects Pty Ltd…