Category Archives: Liquidation

Members’ Voluntary Liquidation (MVL) and Notices of Intended Dividends (NOIDs) — insolvency practitioner bulletin 8 (2025)

Since the end of Members’ Voluntary Liquidation (MVL) clearance, there has been an increase in Notices of Intended Dividends (NOIDs) submitted by insolvency practitioners (IPs), under Rule 14.29(1)(b) Insolvency (England and Wales) Rules 2016 (IR16). This has created operational challenges for HMRC. Operational challenges for HMRC High volumes There has been a significant increase in…

Christchurch company owes IRD more than $1m in unpaid tax

Christchurch company CProPainterPlaster has collapsed owing Inland Revenue an estimated $1 million-plus in unpaid tax. The business working in the house construction industry went into liquidation under an application filed by the IRD at the Christchurch High Court on July 10 with the New Zealand Insolvency and Trustee Service appointed as liquidator. In the first…

Resolution Professional’s Failure To Individually Inform Homebuyers About Insolvency Proceedings Goes Against Principles Of IBC: NCLAT

The National Company Law Appellate Tribunal (NCLAT), New Delhi Bench of Justice Rakesh Kumar Jain, Mr. Naresh Salecha (Technical Member) and Mr. Indevar Pandey (Technical Member) has held that the failure of the Resolution Professional to individually inform the homebuyers about the insolvency proceedings as mandated under Regulation 6A of the CIRP Regulations, 2016, so…

From liquidation to liquid gold: Cork’s newest brewing company brings news beers to the market

Pat Falvey’s new Cork brewery is already making its mark with sustainable ambitions and a strong local identity Ireland’s newest ‘Blarney’ branded brewery has a gift, but it’s not the gab According to the latest statistics from Bord Bia, there are around 80 microbreweries operating in Ireland. Cork already has a strong brewing tradition. The…

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British Indian Tycoon’s Speciality Steels UK Pushed Into Government Control

London: Speciality Steels UK, the country’s third-largest steelworks part of British Indian metals tycoon Sanjeev Gupta group, was on Thursday pushed into compulsory liquidation. The UK government-run Insolvency Service confirmed it will be acting as the liquidator after a High Court ruling. Liberty Steel said the decision to put the firm into compulsory liquidation was…

UK Makes Plan to Take Control of Sanjeev Gupta’s Steelworks – Bloomberg.com

UK Makes Plan to Take Control of Sanjeev Gupta’s Steelworks  Bloomberg.com Read the original article here

Bistro at Cherry Hill remains closed as restaurant's owner vows to fight liquidation ruling – The Business Journals

Bistro at Cherry Hill remains closed as restaurant’s owner vows to fight liquidation ruling  The Business Journals Read the original article here

UK’s third-largest steelworks collapses into government control

Lawyer for the creditors, Ryan Perkins, argued UK steel-making would be better served if the company’s assets were sold off with assistance from independent special managers acting on behalf of the government after it is wound up, rather than allowing administrators appointed by Mr Gupta to conduct the process. In a separate court hearing on…

Claire’s Gets Interim Approval For $22.5M DIP Facility

By Yun Park ( August 21, 2025, 6:32 PM EDT) — A Delaware bankruptcy judge on Thursday gave interim approval to bankrupt jewelry chain Claire’s to receive a $22.5 million debtor-in-possession facility from a private holding company that plans to buy the majority of the company’s U.S. stores through an asset purchaser agreement. … Law360 is…