Henry Boot has put its affordable housing company Starfish Commercial into a creditors voluntary liquidation. The firm, which it acquired just over a year ago, has been hit hard by the coronavirus crisis, a statement from the contractor said. Whilst we have been encouraged by recent increases in activity within our construction division, which is…
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades. Now they are slouching further into the corporate world. “In the corporate world, a zombie is defined as a company which hasnt actually…
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades. Now they are slouching further into the corporate world. “In the corporate world, a zombie is defined as a company which hasnt actually…
On 25 June 2020, the new Corporate Insolvency and Governance Act (the “Act”) received Royal Assent. We anticipate that the changes introduced by the Act will have a significant impact on the future direction of the UK restructuring market. The purpose of the Act is to promote a stronger rescue culture in the UK, providing…
Translated into western culture via Haitian voodoo and West African mythology, the living dead have certainly been reanimated in a plethora of movies and television series over the last couple of decades. Now they are slouching further into the corporate world. “In the corporate world, a zombie is defined as a company which hasnt actually…
The low down According to the OECD, the UK economy will shrink by 11.5% this year and by as much as 14% in the event of another lockdown. Unsurprisingly, the government has rushed through legislation to avert a deluge of corporate insolvencies, pushing it through parliament in just six weeks. It moves UK law closer…
While the disconnect between markets and the real economy has widened further, there is no guarantee that it will narrow, especially with central banks acting as the buyer of last resort. Yet the risk of an extended run of corporate insolvencies remains. In this environment, high-quality income generation is the key, together with the flexibility…
Fixed income investors have long held a reputation in markets as the smart money. With a focus on stability, income, and capital protection, and a propensity for complicated formulas and spreadsheets, fixed income investors often have a better idea of whats happening in markets than just about anyone else. So, when Jay Sivapalan, one of…
Hamish McNeilly/Stuff An injured person is taken off a rescue helicopter at Dunedin Hospital. A tour bus company involved in a crash that caused a girl to lose both her hands and a woman to lose her arm has gone into liquidation, owing more than $1 million. Awing Travel NZ, a Christchurch-based company that provided…
Under normal circumstances, directors have a strict duty to cease trading if their company is facing insolvency and may face financial or legal liabilities if they seek finance instead of doing so. In June, the government introduced emergency coronavirus legislation to suspend the threat of liability for such ‘wrongful trading’. This protection runs out on…