Insolvency Guardian Media Centre
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Nearly 1,000 Belgian businesses went bankrupt in April The Brussels Times
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Legal action against the operators of Walleys Quarry cannot proceed now that the business has entered liquidation.
Newcastle-under-Lyme Borough Council was preparing legal action against Walleys Quarry Ltd for failing to properly control emissions from the landfill in Silverdale, in breach of a court-agreed Abatement Notice.
But now that the site operator’s business is in the process of being liquidated, the prosecution cannot be continued.
Gordon Mole, Chief Executive of Newcastle-under-Lyme Borough Council, said:
For legal reasons the action for breaching the Abatement Notice had to be against the site operator.
Now that the company no longer exists, the action cannot continue.
It is frustrating that we no…
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It’s rare to see a company founded in the 17th century still operating today, but that was the case for the renowned Hudson’s Bay Company. Once a dominant force that governed what is now Canada for over 200 years, and one of the most legendary businesses in North America, it now finds itself on the brink of bankruptcy. Today, the company owns just six remaining stores, and a judge has given it until early May to avoid full liquidation.
Origins of the Hudson Bay Company
While countries like Spain, France, and Portugal created “state-companies” focused on conquering land and establishing trade, it was the British and Dutch East India Companies that became known for ruling entire territories independently.
Around 1650, two French…
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Builder spent clients’ deposits on renovating his own house and race horses Stuff
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A man who refused to pay a measly $46 speeding fine has ended up racking thousands of dollars worth of debt.
In 2016, Peter Prescott received a speeding ticket ordering him to pay $46 (translated to USD) for driving 64km/h in a 50km/h zone. However, he failed to pay the ticket and insisted that he wasn’t driving the car and the car in question wasn’t his.
After Prescott didn’t pay up, the matter was taken to court and when he didn’t turn up to the hearing, Prescott was fined another $46 and was told to pay $17.50 in court fees.
Fast forward two years and Prescott, from New Zealand, still hadn’t paid the fines he was facing. He tried to appeal them but the appeal was unsuccessful, sparking him to seek a judicial review of that decision.
A…
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A court in Palma has taken over the investigation into two alleged rapes of women, several months apart, committed by a former British tycoon at a five-star hotel in Portals Nous, Calvia. The suspect apparently contacted the victims through a luxury sex services website and both women travelled to the island after arranging to meet the man. After being located by officers from the Calvia Guardia Civil and questioned at the barracks, he was released.
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Animal rights activist Tash Peterson and her partner Jack Higgs have kissed their passports goodbye as the couple declared bankruptcy.
The declaration comes after Bicton vet Kay McIntosh won bankruptcy orders against the pair in late April.
The orders followed a messy defamation trial between the activist couple and Dr McIntosh, her husband Andrew and Bicton Veterinary Clinic.
In a dramatic announcement on Instagram late Friday, Ms Peterson said: “We are officially bankrupt and our passports are being taken away from us.”
Mr Higgs said as a result of last year’s trial they “now owe over half a million dollars to a vet clinic”.
“So we’re going to head into a bankruptcy office and we’re gonna officially surrender our…
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1. Overview
1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions?
Until fairly recently, the Dutch jurisdiction was primarily creditor-friendly. The Dutch Bankruptcy Act (“DBA”) primarily aimed to satisfy creditors, rather than providing debtors with a reorganisation mechanism. However, the introduction of the Act on confirmation of private restructuring plans (Wet homologatie onderhands akkoord, the “Dutch Scheme”) on 1 January…
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NCLAT rejects EPFO’s belated ₹34.31 crore claim in Nirmal Lifestyle insolvency case | Image Source: Wikipedia (Representative)
Mumbai: The National Company Law Appellate Tribunal (NCLAT) has rejected the appeal filed by the Regional Provident Fund Commissioner, Employees Provident Fund Organisation (EPFO), challenging the order passed by the NCLT-Mumbai. The NCLT had upheld the decision of the Resolution Professional (RP) rejecting EPFO’s claim of Rs 34,31,98,854.
In its order, the Appellate Tribunal held that when claims are filed belatedly during the insolvency resolution process, the RP’s decision to reject them through a reasoned reply cannot be faulted.
On August 4,…
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