Insolvency Guardian Media Centre
Introduction to Insolvency Law and Important Concepts
– Introduction to Insolvency Law, important concepts, understanding insolvency, bankruptcy, liquidation, and restructuring.
– Evolution of Indian Insolvency Law
– Pre-IBC framework, the need for reform, and the enactment of IBC, 2016.
– Key Features of IBC, 2016.
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(Credits: Mark St George / Scotland Yard)
Former pop singer and convicted paedophile Gary Glitter has been declared bankrupt after failing to pay his sexual abuse victims.
Glitter, real name Paul Gadd, was first sentenced in 1999 for downloading child pornography. He was then convicted once again in 2006 for child sex abuse. Gadd was later again sentenced to 16 years in 2015 for sexually abusing three schoolgirls.
The disgraced former musician was automatically released in 2023 after serving half of his sentence. Six weeks later, he returned to prison after breaking his licence conditions. Gadd was later refused release in 2024.
Last year, Gadd was ordered to pay £508,800 in victim damages related to the…
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Himley Environmental, which operated a landfill site next to the pub, has been put into voluntary liquidation following court action over environmental breaches.
At the time of the breaches, the company was controlled by Adam Taylor, who is sole director of the company which bought the Crooked House from Wolverhampton-based pub group Marston’s in 2023.
The pub in Himley, near Dudley, dated back to 1765, was famous around the world as ‘Britain’s wonkiest pub’ due to the mining subsidence which left it 4ft lower on the one side than the other.
Himley Environmental operated the landfill site next to the pub.
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Convicted sex offender Gary Glitter has been declared bankrupt after failing to pay more than £500,000 to a woman he abused when she was 12, her lawyers have said.
The disgraced pop star, whose real name is Paul Gadd, was convicted in 2015 of abusing the woman between 1975 and 1980, as well as two other young people, and was last year ordered to pay the victim damages of £508,800.
The sum included £381,000 in lost earnings and £7,800 for future therapy and treatment.
Richard Scorer, head of abuse law at Slater and Gordon, which represents one of the victims, confirmed 80-year-old Gadd had been made bankrupt, adding he had refused to co-operate and “continues to treat his victims with contempt.”
In a statement, he added: “We hope and…
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Retailer Select Fashion has reportedly collapsed after closing 35 stores last month and left staff without redundancy pay or owed wages.
It is understood that insolvency firm Moorfields has launched a wind down of the womenswear chain after a creditors’ meeting was held last Friday to approve a voluntary liquidation.
The group had already shut 35 shops in mid-March having quietly trimmed down its estate since the start of the year.
Workers at the shops that shut have been told that they will not be paid outstanding wages for hours worked before the closures and many have been advised to apply for redundancy pay from the Government, according to The Sun.
Employees at the remaining 48 shops have also reportedly been warned their wage…
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Convicted sex offender Gary Glitter has been declared bankrupt after failing to pay more than £500,000 to a woman he abused when she was 12, her lawyers have said.
The disgraced pop star, whose real name is Paul Gadd, was convicted in 2015 of abusing the woman between 1975 and 1980, as well as two other young people, and was last year ordered to pay the victim damages of £508,800.
The sum included £381,000 in lost earnings and £7,800 for future therapy and treatment.
Richard Scorer, head of abuse law at Slater and Gordon, which represents one of the victims, confirmed 80-year-old Gadd had been made bankrupt, adding he had refused to co-operate and “continues to treat his victims with contempt.”
In a statement, he added: “We hope and…
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In a statement, he added: “We hope and trust that the parole board will take his behaviour into account in any future parole applications, as it clearly demonstrates that he has never changed, shows no remorse and remains a serious risk to the public.”
Gadd was jailed for 16 years after his conviction in 2015, and released in February 2023 after serving half his sentence.
He was returned to prison six weeks later after it was found he had breached his licence conditions by allegedly viewing downloaded images of children.
The woman, who cannot be named for legal reasons, brought a compensation claim against Gadd. The High Court heard that she had been unable to work for decades due to the abuse, and had suffered lifelong mental scarring.
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Gary Glitter has been made bankrupt after failing to pay more than £500,000 in damages to a woman he abused when she was 12 years old.
She sued the disgraced singer, whose real name is Paul Gadd, after he was found guilty of attacking her and two other schoolgirls between 1975 and 1980.
Glitter, 80, was jailed for 16 years in 2015 and released in 2023 but was recalled to prison less than six weeks later after breaching his parole conditions.
A judge awarded the woman £508,800, including £381,000 in lost earnings and £7,800 for future therapy and treatment, saying she was subjected to abuse “of the most serious kind”.
The court heard she had not worked for decades due to the trauma of being repeatedly raped and…
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Revealed: Every Geelong insolvency for 2024 Geelong Advertiser
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Ola Electric has disputed the claims and said it plans to challenge the petition through legal proceedings.
“The company will take all necessary and appropriate steps to protect its interests and challenge the allegations in this matter,” the Bengaluru-based…
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Watch Bankruptcy Trends in Focus Bloomberg.com
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A corporate debtor may still argue pre-existing problems, particularly if they were brought up prior to the notice being given, even if they do not reply to a section 8 notice within 10 days
The National Company Law Tribunal (NCLT) Mumbai has held that failure to respond to a demand notice within 10 days under Section 8 of the Insolvency and Bankruptcy Code, 2016 (the Code) does not bar the Corporate Debtor from asserting the existence of a pre-existing dispute especially when such dispute was raised before the issuance of the demand notice.
The Application was filed on 27.07.2022 under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority)…