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Posted: 10/02/2025 Introduction Digital assets, including cryptocurrencies and non-fungible tokens (NFTs), have seen exponential growth. With the continued adoption and
A Co Antrim woman who lost more than £8,000 after entering the FBA Brand Builder programme says her life has been “destroyed” and is now struggling to pay off a loan she took out to enter it.
The Ballymena company, owned by entrepreneur Darren Campbell, announced it was being liquidated on Monday after more than 100 people signed up to a group legal action alleging they had lost thousands due to malpractice by the firm.
Mr Campbell and the company have strenuously denied the claims and vowed to robustly defend them in court.
Portglenone woman Nicola Graffin, 35, said she signed up to the FBA Brand Builder in August 2024. Months later after never getting to the launch stage of her business, she had borrowed £8,500 which she says she…
THE Pastoralists and Graziers Association of Western Australia is preparing to take back control of its affairs now that its creditors have accepted a Deed of Company Arrangement.
Proposed by voluntary administrators RSM Australia, the deed was accepted at the second meeting of creditors held in Perth on March 7.
RSM Australia partners Jerome Mohen and Greg Dudley were appointed as joint and several voluntary administrators of the PGA on January 30 after the PGA executive and committee identified “financial irregularities and a funding shortfall”.
The administrators are now working with the PGA executive to return control of the PGA to the committee in coming weeks, and distribute the deed fund to creditors.
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Digital assets, including cryptocurrencies and non-fungible tokens (NFTs), have seen exponential growth. With the continued adoption and expanding personal ownership of digital assets, they will increasingly become a regular part of insolvency proceedings. This is true whether they are assets to be realised in the insolvency or if an insolvent company operates a digital asset-related business, such as the high-profile crypto exchange insolvencies of FTX and Three Arrows Capital.
Digital assets in an insolvency raise various practical issues which every insolvency practitioner (IP) needs to prepared for so that they can identify, secure and realise them…
This year was brutal for several well-known companies and their bottom lines.As inflation continued to rear its ugly head, consumers slashed their discretionary spending, tilting some companies to file for bankruptcy. Other brands fell victim to changing trends or even more malicious ailments, like cyberattacks.At least 19 companies have cut a combined 14,000 jobs because of bankruptcies, according to Challenger, Gray & Christmas, an outplacement services firm.Notably, retail closures have picked up this year because the sector’s sugar high of 2021 and 2022 — when consumers were buying new furniture, televisions and clothing — has ended. There have been more than 7,100 store closures through the end of November, according…
Gary Glitter has been declared bankrupt after the paedophile pop star refused to pay a six-figure compensation to one of his victims.
Glitter, real name Paul Francis Gadd, was ordered last year to pay £508,800 damages to a woman he abused when she was aged 12.
The disgraced rocker, 80, has now been made bankrupt after her lawyers at Slater and Gorden filed an enforcement order to the High Court, reported The Mirror.
Glitter is listed on the insolvency register under his real name with the case details confirming his bankruptcy was declared at Torquay and Newton Abbot county court on March 20.
Trustees could now be appointed to seize Glitter’s assets and use them to pay for the compensation figure.
Apropos of ‘How Punjab can contain its debt burden’; the state may consider establishing an independent Public Debt Management Cell as an interim arrangement. A similar cell is working at the Centre under the Department of Economic Affairs, Ministry of Finance. It will help in the execution of efficient cash management practices. Later, the state can establish a permanent Public Debt Management Agency that can plan domestic borrowings for the government. It can be tasked to manage the state’s liabilities, monitor cash balances, improve cash forecasting, advice on investment and capital market-related operations, undertake R&D on debt and risk assessment and develop adequate procedures. Help can be taken from other stakeholders and…
The Bill is a follow-up to the General Scheme of the Bill (General Scheme) and regulatory impact analysis that was published earlier in the year. The Bill generally follows the proposals in the General Scheme but with some changes – for example, some provisions around the Corporate Enforcement Authority (CEA) being able to exercise certain surveillance functions have not been included. It may be that such provisions will be included in subsequent legislation.
We have taken a look at some of the main provisions in the new Bill.
Corporate governance and administrative matters
The Bill seeks to place, on a permanent statutory footing, the right of companies to hold general meetings virtually or in a hybrid manner, while requiring that…
Proposed by voluntary administrators RSM Australia, the deed was accepted at the second meeting of creditors held in Perth on March 7.
