Limavady business enters insolvency owing total of 14 creditors including taxman

A building company once owned by two of Ireland’s richest men has commenced insolvency proceedings after racking up debts of more than £3.4m.

Taggart Homes, in Limavady, Co Londonderry filed a notice of voluntary arrangement on April 1, announcing it had held a meeting of creditors in Derry on Monday.

A family-run business in the Midlands, Thomas Kitchens, is now in the process of liquidation after more than four decades of operation.

The Kitchen renovator, based in Nuneaton, has faced a struggling market and is now selling its assets through an online auction.

Kumar and Company has been appointed by insolvency practitioners Poppleton & Appleby to manage the sale of the business’s assets.

The auction, which runs until 11am on Thursday, 10th April, includes a variety of kitchen equipment and display units.

Raj Kumar, Managing Director of Kumar and Company said: “It’s a business that’s been around for a long time but just can’t make the money it needs to anymore. The market has been tough, and unfortunately,…

Underscoring the massive scale of America’s medical debt problem, a nonprofit has struck a deal to pay off old medical bills for an estimated 20 million people.

New York-based Undue Medical Debt, which buys patient debt, is paying off $30 billion worth of unpaid bills in a single transaction with Pendrick Capital Partners, a Virginia-based debt trading company. The average patient debt being retired is $1,100, according to Undue Medical Debt, with some reaching the hundreds of thousands of dollars.

The deal will prevent the debt being sold and protect millions of people nationwide from being targeted by collectors, though this will overwhelmingly benefit residents of Texas and Florida, who…

The move came after Nishant Pitti-backed airways showed interest in acquiring the airline, citing reasons like Go First’s valuable intangible assets, including its Directorate General of Civil Aviation (DGCA) license. Busy Bee had initially shown interest in acquiring Go First and had moved a bid worth Rs 1,600 crore for the same. But later, as the airline lost operational aircraft, Busy Bee pulled back only to re-enter the race with an increased bidding amount worth Rs 1,800 crore.  

Even as the National Company Law Appellate Tribunal (NCLAT) on Friday upheld the liquidation order for Go First Airways, it has paved the way for a potential revival—at least in part—by allowing EaseMyTrip co-founder Nishant Pitti’s company to propose an asset buyout scheme.

The appellate tribunal dismissed a batch of appeals, including one filed by Pitti-led Busy Bee Airways, which had challenged the National Company Law Tribunal’s (NCLT) January 2025 order to liquidate the cash-strapped airline. However, in a significant move, the NCLAT permitted Busy Bee to file a scheme with Go First’s liquidator to acquire the airline’s assets.

As per the order, the liquidator is empowered to “consider” the scheme submitted by Busy…