Walleys Quarry landfill owner owed millions to creditors

Liquidation

Of this, £245,604 is earmarked for HM Revenue & Customs (HMRC) and £2,728 towards employee arrears or holiday pay. Once this was paid, the firm would still owe more than £3.4m to creditors, the document said. This included an additional £1,589,738 owed to the HMRC, £591,993.60 to the EA and £132,097.20 to Newcastle-under-Lyme Borough Council.…

Acorn Press and MPD Offset enter liquidation

Liquidation

Print companies Acorn Press and MPD Offset had ceased trading on Friday, January 31, less than six months on from the two companies completing a merger. As of 27 February, Huw Powell and Andrew Hook of insolvency practitioners Begbies Traynor have been appointed as joint liquidators for both companies, according to filings at The Gazette.…

Payments From Corporate Debtor’s Account Post-CIRP Commencement Without IRP Approval Is Breach Of Moratorium: NCLT Mumbai Directs Refund

Liquidation

The National Company Law Tribunal, Mumbai bench comprising Prabhat Kumar (Technical Member) and Justice V. G. Bisht (Judicial Member) have held that any payments made from the Corporate Debtor’s account after the commencement of the Corporate Insolvency Resolution Process (CIRP) without the Interim Resolution Professional’s (IRP) approval are in contravention of the moratorium under Section…